RedevelopmentSite:Four houses have been rolled into one site which may accommodate up to 150 apartments, writes Jack Fagan
Four adjoining house owners on the edge of Killiney Golf Club in south Dublin are to sell their combined properties as a single lot in the expectation that it will be bought as an apartment site.
Liam Stones of Bannon Commercial is quoting a guide price of over €28 million for the four homes which stand on a site of 3.6 acres along Church Road in Killiney.
Infill sites of this quality are in constant demand because of the the popularity of the location. Agents constantly complain that "empty nesters" wanting to trade down from large homes in Killiney find it difficult to buy good quality apartments in the area.
Bannon Commercial has described the site going for sale by tender on April 26th as "undoubtedly the best development opportunity in the area". It is zoned for housing and has almost 400ft of frontage along the eastern, or higher, side of Church Road, beside the golf course. The elevated site is not overlooked to the rear and has clear south-westerly views towards the mountains.
Liam Stones estimates that new owners should get permission for 150 residential units on the site which is 2kms from Killiney Dart station.
Last October, the Dublin fashion retailer Sean Barron secured €22 million for his home and gardens also overlooking Killiney Golf Club. The six-bedroom house, Broadlands on 2.82 acres on Ballinclea Road, was bought by the Cork-based housebuilders O'Flynn. The site is likely to accommodate about 100 apartments.
