Ready-to-go residential site in Galway city suburbs seeks €11.5m

Strong interest is expected from home builders and developers at both a local and national level in the sale of prime residential lands on the outskirts of Galway city.

Located on the Ballymoneen Road in the western suburb of Knocknacarra, the subject site comprises 9.079 hectares (22.43 acres) and comes with full planning permission for the development of 238 residential units, retail space and a crèche on its southern portion, and with potential for an additional 58 units on its northern portion, subject to the receipt of planning permission. The lands are being offered to the market by agent DNG Maxwell Heaslip & Leonard at a guide price of €11.5 million.

Situated in an area which has undergone significant residential development, the approved scheme includes a mix of semi-detached houses and duplexes together with a number of apartment blocks which the selling agent says will have “commanding views over the city to Salthill and Galway Bay”. Part of the lands are likely to be subject to a compulsory purchase order (CPO) for the proposed outer Galway City bypass, and this has been reflected in the planning permission obtained, according to the selling agent.

Adjacent developments include the Maolin scheme of over 100 residential units and the more recent development at Gleann Na Mona of 140 houses and apartments along with associated commercial space. Knocknacarra meanwhile offers an abundance of amenities, including shops, schools, woodland walks and sports facilities. Galway city centre is easily accessible via the western distributor road.

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Alan Maxwell, who is handling the sale, says: “It isn’t often that development land of this quality is offered to the market with the benefit of full planning permission in a proven area such as Knocknacarra. The attraction for developers of being able to commence construction immediately should see strong interest in this site. There is a high level of pent-up demand currently with both home buyers and investors anxious to get into the market.”