Development LandA site beside Newcastle village in Co Wicklow with planning permission for a low density scheme is expected to make over €17 million when it goes to tender on March 28th.
Laura Somers of DTZ Sherry FitzGerald is handling the sale of the 5.35 hectares (13.2 acres) which has full planning permission for 49 semi and detached houses. The houses are all particularly spacious, ranging from 128sq m (1,382sq ft) to 231sq m (2,487sq ft) in a mix of three, four and five-bedroom units on large individual sites.
The density of 3.7 houses per acre leaves the way open for the purchaser to achieve a higher density. This might well be achieved in the town plan for Newcastle being prepared by Wicklow County Council. Last May, a submission was made to the council seeking a higher zoning and the draft town plan is due to be published in the next two months. Agreement has already been made with the council to provide 12 affordable houses measuring 92sq m (990sq ft) each at an agreed price of €185,000.
The site is located beside the successful Racefield development containing 12 large family homes which sold last year. Newcastle is within minutes of the park-and-ride facility at Greystones Dart station.
It is also close to the N11, making it within easy commuting distance of the city.
Laura Somers says the site has "all the right elements" - an excellent planning permission for large family homes and the potential to increase the density.
