The scarcity of family homes in popular Dublin suburbs has led to considerable competition between investment and construction companies for housing sites coming on the market.
For that reason, CBRE expects considerable interest in a ready-to-go development site extending to 0.39 hectares (0.96 of an acre) at Vernon Avenue in Clontarf, Dublin 3, which will be offered for sale by private treaty.
The land, previously used as a sports grounds, has full planning permission for 17 family homes.
Peter Garrigan of CBRE's development land division is guiding €3.85 million – equating to €226,470 per unit – for the site, which has about 30m of frontage on to Vernon Avenue and is ideally located close to a range of attractions, including restaurants, health and fitness clubs, golf facilities and rugby, cricket and yacht clubs.
The planning permission granted by An Bord Pleanála in June 2014, provided for the demolition of the existing buildings on the site and their replacement by 17 three-bedroom homes. These would rage in size from 98 to 179sq m (1,055 to 1,927sq ft).
Garrigan said the location of the site – 4 km north of Dublin city centre – should ensure an early sale.