Housing SitesThe supply of residential sites coming on the market in the Dublin area continues to increase with signs that values in most cases have probably peaked.
This week DTZ Sherry FitzGerald is seeking in excess of €10 million for a site of 4.96 acres, above, in the foothills of the Dublin mountains in Sandyford. The site is located just off the Enniskerry Road and has frontage on to both Slate Cabin Lane and Blackglen Road. It goes to tender on October 24th.
According to the selling agents, the site offers superb views of the mountains on one side and the city on another. It is conveniently located within easy reach of the south-eastern section of the M50, which will provide quicker access to Dublin Airport on the northside of the city. The area will be made more accessible within the next few months through the opening of the Ballinteer-to-Sandyfored section of the M50.
Sherry FitzGerald suggests that the site for sale, which is zoned for a residential scheme, could accommodate up to 90 units, mainly townhouses and some apartments, and possibly up to five large homes on Blackglen Road.
At present two-bedroom apartments in the area are selling for around €325,000, three-bedroom townhousing are making about €440,000 while four-bed semis are valued at around €630,000.
There have been several other successful developments in the area including a number at Stepaside, Aikens Village on the Enniskerry Road and Taylors Hill on Kellystown Road.
