Techrete's 5.83 acres, with mixed-use zoning beside Howth village, is one of the best sites to come on the market for years, writes Jack Fagan

One of the best located coastal sites in the Dublin area goes on the market today in Howth when the 2.36 hectares (5.83 acres) occupied by Techrete on the edge of the village is offered for sale by tender.

The expectation is that the site will sell for over €55 million because, according to Con Cronin of selling agent GVA Donal O Buachalla, it could accommodate over 300 apartments, as well as retail facilities and possibly a hotel.

The decision by Techrete to finally sell its strategically located site is not entirely unexpected, given the high value of the property and the fact that its precast concrete cladding business can be run from a secondary location.

The company, which employs 150 in Howth, is transferring its operation to Balbriggan where it has acquired a site of 6.25 hectares. Techrete also operates a substantial facility at Brigg in north Lincolnshire and is one of the leading companies in the architectural pre-cast sector in Ireland and the UK.

The site is between the Dublin Road in Howth and the Dart railway line, and has uninterrupted views over the harbour to Ireland's Eye and Lambay Island. It is within a short stroll of Howth, which is still one of the most charming villages along the coastline.

The zoning on the site is designed to "protect and enhance the special physical and social character of major suburban centres and provide and/or improve urban facilities". Uses permitted under Fingal County Council's development plan include residential, hotel, restaurant, retail and offices.

The vendors are confident that planning permission will be obtained for a fairly high density scheme, given that the owners of the adjoining Teeling car showrooms on 0.3 of a hectare (0.75 of an acre) recently secured approval for 39 mainly two-bedroom apartments in a four and five-storey block with four large shop units at ground floor level and 100 car-parking spaces at basement and surface level.

A short distance away, Cosgrave Homes got top prices for 55 apartments and penthouses it developed on the site of the former Howth Lodge.

Since then, Sean McKeon's MKN Properties secured even higher values (€1.4 million to €3.5 million) for 17 apartments and penthouses based in and around the 19th century Sutton Castle.