A 10-member syndicate has outbid four house-builders for a development site at Blackwood Lane, Malahide, Co Dublin. The group has paid £1.5 million for 10.25 acres, which are zoned to accommodate not more than 10 houses. Most members of the syndicate are understood to be from Malahide and Portmarnock. It is thought they plan to sell their existing houses when they build homes at Blackwood Lane. The land was sold by Declan Cassidy of Gunne on behalf of Portmarnock GAA club, which is to spend the £1.5 million on a new grounds.