A private investor has bought a development site of 1.2 hectares (three acres) at Donabate village in north Dublin for a figure understood to be about €350,000. The same plot was offered for sale in 2009 at a guide price of €1.5 million.

Jonathan Preston of Savills agreed sale terms for the land a day before it was due to go to auction. He said the site was very well suited to low-density, high-quality housing – perhaps six of seven homes.

The site adjoins Newbridge House and demesne, which extends to 350 acres of parkland and woods.