DevelopmentLand: The high level of apartment building currently under way in the greater Dublin area is expected to lead to an over supply in a number of areas.

One of the districts where this will not occur for the foreseeable future is Malahide, where there is a pent-up demand for good homes, largely because little or no development land has come on the market there in recent years.

That is all the more reason why there is likely to be strong interest in an attractive, secluded site for large, detached homes at Dublin Road, Malahide, now going for sale by private treaty through Lisney.

The agency is understood to be seeking offers over €20 million for the site of 2.15 hectares (5.3 acres) which is located in a beautiful rural setting beside Mabestown House.

The land has been zoned for low density housing under the Fingal County Council Development Plan 2005-2011.

The density would allow four houses per acre, suggesting that 20 or 21 large luxury homes could be provided on the site.

The land is located on the eastern side of the Dublin Road, within a few minutes drive of Malahide.

It is also about 2kms from the Malahide Road extension of the M50.

Malahide is easily one of the most attractive villages in the Dublin area where there is a huge choice of restaurants, bars, shops and leisure facilities.

The development of the local marina has proved an important boon to the area.