A COMMERCIAL developer has paid almost £1 million for 125 acres of land at Portmarnock, Co Dublin, in the expectation that at lest some of it will be rezoned for development.The land is currently zoned as a green belt. It had once formed part of Beechwood Stud and was sold by Hamilton Osborne King and Keane Mahony Smith on behalf of the estate of the late Bill McHenry, a former Wall Street stockbroker. His home, Beechwood House, was sold some years ago along with part of the estate to Malahide Golf Club.