A substantial residential development site of about 29.4 acres, with the capacity to build almost 400 homes in a prime south Dublin area, has come to the market seeking what is understood to be in excess of €23 million.
The “Brennanstown” plot, which is available in one or more lots, is situated off the Brennanstown Road, one of Dublin’s premier postal addresses, close to the villages of Cabinteely and Foxrock.
It is also close to the Green Luas line, and the site benefits from extensive frontage on to the Brennanstown Road and extends as far south as the Luas Green line at Laughanstown. The site, which is situated within the Cherrywood SDZ, is largely undeveloped and contains five existing residential units.
The land is for sale in one or more lots. Lot 1, known as “Druid’s Glen”, comprises about 8.8 acres of residential development land and 11.1 acres of forestry land, while Lot 2, “Lehaunstown”, consists of about 9.5 acres of residential development land, with a small portion zoned for town centre use under the Cherrywood SDZ.
Zoning status
The third lot comprises the entire 29.4 acres, with development potential for more than 370 residential units and about 600sq m of commercial space.
A report detailing the zoning status and planning potential has been prepared by McGill Planning and is available upon request.
According to selling agent CBRE, the two distinctive plots of lands offer interested parties the potential to deliver both traditional housing and private rental sector accommodation, subject to planning permission, in a well-established residential location.
Darragh Deasy, associate director with CBRE, said: “The scale, affluent location, connectivity and situation of the site within the Cherrywood SDZ offers the purchaser the opportunity to buy a rare development opportunity in Dublin 18.”
There have been significant developments within the Cherrywood SDZ in recent years, with the delivery of housing, apartments and schools well under way, further solidifying the attractiveness of Cherrywood as a residential location.
Upmarket development
Brennanstown Road itself has been home to a marked step-up in construction of late.
Park Developments is currently readying a launch in Brennanstown Wood, a mix of large spacious three-, four- and five-bedroom family homes, while Cairn Homes is planning an upmarket apartment and luxury home development, Barrington, also on the road.
The land at Brennanstown is being brought to the market by CBRE, on the instruction of Declan McDonald of PwC, acting as receiver on behalf of Nama.
The site was previously placed on the market back in 2018 for €35 million, but was withdrawn after developer Johnny Ronan issued High Court proceedings against a Nama-appointed receiver over the sale. The dispute arose over a right of way across the land.
Mr Ronan was subsequently reported to be interested in acquiring the land for about €29 million in 2020, but this sale didn’t proceed.
