Agent Knight Frank is guiding a price of €2.95 million for a residential development opportunity at Carr’s Lane in Balgriffin, Dublin 17. The subject site currently comprises a single-storey house with adjoining lands extending to a total of 2.61 hectares (6.45 acres). The lands are laid out in two divisions separated by a band of trees, with two existing access points off Carr’s Lane which connects to the Malahide Road.
The subject property is located in a well-established residential area. Both the Northern Cross mixed-use scheme and Clarehall Shopping Centre are located approximately 1km from the property with occupiers including Tesco, Hilton, Meadows and Byrne, Fresh, Bank of Ireland and Fine Wines.
There are a number of green spaces in close proximity also including Father Collins Park. The surrounding coastal towns of Portmarnock, Malahide and Howth are all situated within a short drive of the site. Outside of the significant employment opportunities available to future occupiers of the site in Dublin city centre, Dublin Airport, which is in close proximity, provides 19,900 direct jobs, with a further 11,700 indirect jobs in firms that support or supply the airport. The site is highly accessible by car via the Northern Cross junction off the Malahide Road (R107), and both the M50 and M1 motorways. Dublin Airport is about a 10-minute drive from the property.
The subject site falls under the Fingal Development Plan 2023 - 2029 with approximately 1.46 hectares (3.6 acres) as “RA” Residential Area, the aim of which is to “provide for new residential communities subject to the provision of the necessary social and physical infrastructure” under which residential is permitted in principle. The balance of the lands, 1.158 hectares (2.86 acres), is zoned under GB “Green Belt”, the aim of which is to “protect and provide for a green belt”.
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Conroy Crowe Kelly (CCK) Architects have undertaken a feasibility study on the lands that suggests there is potential for the development of two separate residential schemes providing for either 35 houses or 66 apartments. The proposed schemes have been designed around a central open space focal point or towards trees and hedgerows along the boundaries. Both scenarios provide a potential future connection point westwards into the green-belt zoned lands. This connection could occur in the event of these lands becoming residentially zoned at a future stage.
There is a strong planning precedent for residential development with the recently completed apartment developments at Carr’s Lane, Belcamp Manor and Gannon Homes’s Belcamp development adjoining the property. Further details of the CCK study are available upon request.
James Meagher and Robert Wilson of Knight Frank say: “This area is a proven sales location and is highly sought after by home buyers. We expect this to continue as new home-buyer demand continues to outstrip supply. There has been a dearth of appropriately zoned land for residential development offered to the market recently and we would anticipate strong interest in the sale.”
