Dublin 18Three families living along Brighton Road in Foxrock, Dublin 18, have secured just over €20 million for their homes and extensive gardens.

The three properties, covering an area of 1.49 hectares (3.7 acres), were withdrawn at a Lisney auction last Thursday at €19.5 million and sold subsequently for marginally over the €20 million mark. The purchasers are understood to be a group of investors who are expected to seek planning permission for a development of townhouses or apartments.

Lisney estimates that the site could accommodate between 25 to 30 townhouses or either 10 to 15 large detached houses. The three houses currently on the site, two dormer bungalows and a two-storey dating from the 1950s, are likely to be demolished.

The site is particularly well located, with 90 metres of frontage on to Brighton Road. The flat, regular-sized site backs on to the old Harcourt Street railway line and Leopardstown race track.

A top of the range apartment scheme, Hollybrook, which was built on Brighton Road by Sean Dunne's Mountbrook Homes fetched top prices. Only two units remain for sale, a large penthouse at €2.5 million and a two-bedroom apartment at €995,000.