Redevelopment SiteA group of neighbours living on Clune Road, Finglas, are offering their rear gardens collectively to form a substantial landbank.

The site of more than 1.3 acres will be sold by tender and selling agent Ganly Walters suggests it could achieve over €7.5 million.

This is believed to be the first section of assembled development land to come on the market in Finglas village under Dublin City Council's urban rejuvenation plans.

Up to 22 neighbours were involved in putting the property together, which is in four block sites extending to 0.55 hectares (1.36 acres) in the north-east section of the village.

It adjoins sites belonging to Dublin City Council, the HSE, Eircom and An Post on the Seamus Ennis Road, and lies in a zoned residential area under the Dublin City Council development plan.

With the council's latest feasibility plans showing a scheme of terrace houses, duplexes and four apartment blocks, it is suggested that the Clune Road sites have potential for 80-90 residential units.

The feasibility plan prepared by Dublin City Council in relation to the adjoining properties on Seamus Ennis and Jamestown roads highlights potential for further residential units with commercial elements fronting onto the Seamus Ennis Road.

"This presents an excellent opportunity for a developer/investor to work closely with Dublin City Council on this framework plan to create a new residential and commercial hub for Finglas village," says Ganly Walters' director Mark Smyth, who is handling the Clune Road site sale.

Smyth says that Dublin City Council has recently completed a revised feasibility study for the north-east section of Finglas village - the Seamus Ennis Road, Jamestown Road and Clune Road triangle.

"Regeneration looks like a real possibility at last, mainly because the Seamus Ennis Road sites are in the ownership of Dublin City Council, the HSE, Eircom, An Post and the credit union," says Smyth.

Ganly Walters is offering the Clune Road four-block sites for sale in a single landbank as lot one.

The public tender closing date is June 13th.