Residential Land : A residential development opportunity has arisen in Dundalk, Co Louth with the availability of about 54 acres (21.86ha) to the south-west of Dundalk town centre.
Unless previously sold, the lands go to public tender in two lots on October 21st.
Dundalk is a rapidly expanding gateway town with a population of about 32,000.
The lands are in an area known as the south-west sector by the council, which under its 2003-2008 development plan zones them as "residential pending the provision of a public mains drainage scheme".
The local authority is anxious to see the area developed and it is envisaged that the land owners will work with the authority to provide this infrastructure, according to the agents, HT Meagher O'Reilly.
Dundalk is already highly accessible as a commuter town for Dublin, given the existing M1 that halts just south of Dundalk close to the Dundalk Institute of Technology on the N1.
The extension of the M1, which will provide a complete bypass for Dundalk, will be finished by 2006, according to the National Roads Authority.
A proposed "western inner relief road" will provide further accessibility to the site, which lies between the Carrickmacross Road and the Ardee Road.
This is planned to run through a section of the lands, but this road does not have to be constructed immediately and can be built at some stage in the overall development process, according to the agents.
Dundalk Town Council and Louth County Council are currently preparing the local area plan that includes development guidelines for the site.
Currently at draft stage, it proposes zoning the lands for medium to high density residential, with a minimum of 14 units per acre. On this basis the entire lands could provide at least 750 houses.
The two lots provide 41 acres (16.6ha) and 13 acres (5.3ha) respectively. The agent is guiding over €15 million for the larger lot and over €5 million for the smaller. They will be disposed of by tender if not sold prior to October 21st.
The market in Dundalk currently favours the vendor, given the strength of property sales there in recent times. A 36-acre site across the road from these two lots had planning permission for 205 units and was agreed last April for more than €22million. A ready-to-go site for 124 units on the Old Golf Links Road recently made in the order of €8.7 million.
"The lands represent an opportunity for someone to acquire a significant land holding in the Dundalk area and we expect great interest from both builders and developers alike," according to the agent, which can provide further details of the tendering procedures.
