Agent Bannon is guiding a price of €3.75 million for a 46-acre landbank strategically positioned on the Slane Road between the M1 motorway and Drogheda town centre.
The property, which is in agricultural use currently, is expected to see strong interest from both residential and commercial developers, given its potential to accommodate a variety of uses. The entire holding is zoned “mixed-use (C1)” under the terms of the draft Louth County Development Plan 2021-2027. The objective of this zoning is “to provide for commercial, business and supporting residential uses”.
The final county development plan is expected to be adopted by the end of 2021. According to the draft plan, Drogheda is earmarked to further expand on its status as the largest town in Ireland with a target population of 50,000 by 2031. The town has been designated as a self-sustaining employment centre on the Dublin-Belfast Economic Corridor.
The subject site is well placed to benefit from this expected growth thanks to its location. The lands are situated on the Slane and Mell Road, with the M1 motorway (junction 10) to the northwest and Drogheda town centre to the southeast. The M1 Retail Park, which is occupied by Woodies, Smyths, Sports Direct and Dealz, is situated less than 500 metres to the northwest.
Niall Brereton, director at Bannon, said: “This is an excellent opportunity to develop a mixed-use scheme of scale, subject to planning permission, at a strategic location close to Drogheda town centre and the M1 motorway, within a town which has been identified as a regional growth centre.”
The property is being offered for sale by way of tender with a guide price of €3.75 million. The last date for receipt of tenders is noon on Thursday June 10th.