DevelopmentLand:An attractive 2.7-hectare site in the heart of Kinsealy village, Co Dublin, has come on the market and will be sold next month by tender. The property is expected to sell for over €17 million.
The land is near the Malahide Road/Chapel Road junction in the residential area surrounding Kinsealy village. Despite its bucolic setting, the village is no more than five minutes from the M50 and 10 from Dublin Airport. The park-and-ride facilities at Portmarnock and Malahide Dart stations are also close by.
Under the Fingal Development Plan 2005-2011, the property is zoned objective "RV1" - "to protect the special character of rural villages and provide for improved village facilities and local needs housing in accordance with approved local area plans and infrastructure provision".
This zoning allows for predominantly residential uses and, given that the Kinsealy local area plan allows for a density of seven houses to the acre, a luxury, low-density residential development would represent the most likely outcome, subject to planning permission.
Similar high value residential developments have already gone into the area, including Abbey Well and St Olave's residential and retail scheme.
"This is one of the last remaining substantial development opportunities in Kinsealy village," according to the director of development land at selling agent DTZ Sherry FitzGerald, Laura Somers. For this reason it is expected to generate strong interest among residential developers.
"This is a popular residential area that has seen a number of highly successful developments with proven sales records," says Somers. "We would expect that large detached houses in the area may achieve between €1.2 million/€1.3 million."
The Kinsealy area is highly desirable from a family living point of view. There are recreational and leisure facilities at nearby Portmarnock and Malahide, the renowned Royal Dublin and Portmarnock golf courses, and a proposed Abbeville golf course.
The Pavilions shopping centre in Swords and the ClareHall shopping centre are both close by. The 2.7-hectare (6.7-acre) site is being offered for sale by public tender on May 16th, 2007.
