Retail development opportunity at Navan new homes scheme guiding at €1.25m

Convenience retailers and supermarket chains looking to increase their reach may be interested in the opportunity presented by the sale of a 0.45 hectare (1.1 acre) site adjoining Cluain Adain, a large-scale residential scheme of just under 400 homes being developed by Glenveagh Properties on the outskirts of Navan, Co Meath. The subject site is being offered to the market by agent Cushman & Wakefield at a guide price of €1.25 million.

Situated at the entrance of the new scheme off the Clonmagadden Road, the lands are zoned “C1 – mixed use” under the Meath County Development Plan 2021–2027 and the property is split into two sections. Full planning permission is in place for 0.6 acres of the site for a 928sq m (9,989sq ft) retail unit, which includes a café and 45 surface car-parking spaces. While the remaining 0.5 acres of the site doesn’t have planning permission, it has potential, according to the selling agent, to add an additional unit. The purchaser may also decide to amend the plan for the entire site.

Navan is one of Ireland’s largest towns with a population of more than 30,000 and is the major economic hub of Co Meath. Cluain Adain will comprise 394 units upon completion. There are several other residential schemes being built or earmarked for development in Navan.

Paul Nalty of Cushman & Wakefield says: “Retail sites in suburban locations have experienced good levels of demand in recent years, as the end users look to capitalise on the need for local services and amenities in expanding areas. This opportunity will be particularly suited for convenience retailers and supermarkets, and we expect to see strong levels of interest from this sector.”