12 sites for houses at €500,000 each

An exclusive site going on the market today with planning permission for 12 prestigious houses near Malahide in north Dublin is likely to prompt many people to wonder if the good times are back again.

Joint agents Lisney and JLL are seeking in excess of €6 million for the 1.48 hectares (3.658 acres) or at least €500,000 per house site.

Planning permission for 16 five-bedroom detached houses ranging in size from 334-498sq m (3,600 to 5,360sq ft) was originally granted in May 2007, just before the property crash. A planned marketing campaign to sell the Mabestown site was postponed at the time but once reports of a housing shortage began to circulate again in 2012 , the owners of the land, Pat and Miriam Kenny, secured an extension of the planning permission from Fingal County Council until February 2018. The planners decided, however, to drop permission for four of the 16 houses planned for the site.

As a concession they also agreed to stagger the standard financial contributions towards the servicing of the land by the local authority and not to insist on part of the site being set aside for social or affordable housing.

The joint selling agents say that “given the current improving market and with increasing residential demand….this is a fantastic opportunity for any builder or investor” .

The site at Mabestown is accessed from the Malahide Road, and is located between the junctions of Swords Road and Streamstown Lane. The new homes will overlook the grounds of Malahide Castle and will be within a 10-minute walk of the village centre.