The recent announcement by NUI Galway of its plans to pour hundreds of millions of euro into an infrastructure investment programme for its campus is expected to lead to strong competition between investors for a strategic five-acre greenfield site on the outskirts of the city.
Guiding at a price of €3m through agent CBRE, the site, which is regular in shape and under grass currently, is located on Headford Road just 2km from Galway city centre. The Headford Road serves as one of the primary arterial routes for Galway, linking with the M6 motorway. The surrounding area comprises a mix of residential and commercial developments. Terryland Retail Park, Dunnes Stores and the Maldron Hotel are all located directly opposite the subject site, while the Gort na Coiribe student and short-term letting scheme is located immediately adjacent to it.
While the site is currently zoned for “Recreational and Amenity” under the Galway City Development Plan, it comes with clear rezoning potential and would suit a variety of uses including residential and student accommodation, subject to planning permission. A planning report has been undertaken by the Planning Partnership and is available to interested parties upon request.
Both the Galway-Mayo Institute of Technology (GMIT) and NUIG are located within walking distance of the subject site and cater for a combined student population of 25,000 at present. The site is well served by public transport thanks to its location within an established residential and commercial area.
Galway city meanwhile offers a wide range of amenities for residents and visitors alike including restaurants, bars, cafes, shops and schools. The city has been designated European Capital of Culture for 2020.
Darragh Deasy of CBRE’s development land division says:
“The site presents interested parties with the opportunity to acquire a strategic land holding, within close proximity to existing transport infrastructure and residential amenities, with significant future development potential.”
