Development Land: Hooke & MacDonald is bringing to the market two development sites - one off Brennanstown Road in Cabinteely, Dublin 18, and the other off the Malahide Road in Dublin 17.
The 5.6-acre site at Lahaunstown Lane, off Brennanstown Road, includes Springdale, a six-bed detached home about 1km from Cabinteely village. About 2.8 acres are zoned residential and the remainder is designated as open space. Though the selling agent is not providing a guide price, other sales in the area indicate that residentially zoned land can make from €2 million to €3 million per acre. The general area is experiencing significant development at the moment, particularly around Cherrywood.
The draft of a local area plan to be published shortly is expected to recommend the development of a new urban quarter to cover the Cherrywood/Rathmichael area. It is planned to create a riverside park, including a pedestrian route and a cycleway from the coast at Hacketts land to Cabinteely Park. Part of the riverside walk will pass through the land being sold. The second site sale being handled by Hooke & MacDonald is located at Greencastle Road, off the Malahide Road, and has planning permission for 20 apartments, two ground floor retail units with a total of 290 sq m (3,122 sq ft) and an underground car-park. Eleven of the apartments will be two-bedroom units and the remainder will be three-bedroom homes.
The selling price for the site is likely to be around €1.75 million. The agents say there will be a substantial cost saving as 29 underground car-parking spaces are already in place in the adjoining, recently completed, development at Castle Elms. Another adjoining development includes The Orchard and building work is also under way on the City Junction Hilton Hotel.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/6BDEAESQEJH4BHNFRSVZH3W4TM.png)