With the housing crisis showing no sign of abating, there should be keen interest among developers in a ready-to-go site for 34 houses in Chapelizod, about 6km west of Dublin city centre.
Enda Moore, who is handling the sale for agent Hooke & MacDonald, is guiding €3 million for the 2.57 acres at Chapelizod Hill Road in Dublin 20. This equates to about €83,000 per new house site and €250,000 for an existing house on site.
A larger scheme of apartments, with some blocks rising to five storeys, was once mooted for the site. This was met with stiff resistance from some homeowners on the road, who cited overlooking as a key concern.
As a result, Mr Moore believes the site will be built out according to its current planning permission, which was secured from Dublin City Council in January 2014.
Permission provides for the construction of 33 new houses and the refurbishment of an adjoining semi-detached house. The planned two-, three-, four- and five-bedroom houses are predominantly semi-detached or end-of-terrace.
The planning permission allows for two two-beds, 16 three-beds, 12 four-beds and three five-beds. These spacious family homes range in size from 108.4-169sq m (1,167-1,820sq ft).
Mr Moore suggests that completed houses will likely sell for €340,000-€350,000 for the three-beds, from €380,000 for the four-beds and from €400,000 for five-beds.
The property is close to the Chapelizod Bypass which forms part of the main Dublin-to-Galway road, providing access to the M50 in one direction and Heuston Station in the other.
Chapelizod village, within walking distance, is a pretty enclave on the banks of the Liffey that is greatly underestimated for its amenities and the convenience of its proximity to the city centre.
Also within walking distance is the Phoenix Park, while Kilmainham is about 2.7kms away. In addition, there are good public transport links to the city centre and a number of schools nearby.
A dated factory complex extending to 3,897sq m (41,947sq ft) occupies the site that is opposite a FÁS training centre.
Close by, the Iveagh Trust is currently developing a scheme of 70 one-bedroom apartments as part of a new sheltered housing development for the elderly, nominated by Dublin City Council from their housing waiting list.
The site is being sold by Shrewsbury Square Ltd, which developed Shrewsbury Square in Ballsbridge, with the consent of Nama.