£20m expected for two Malahide sites

Less than a month after the sale of the 6

Less than a month after the sale of the 6.8-acre Casino site in Malahide for £12m, the owners of two more housing sites beside the north Dublin village are putting them on the market in the expectation that they will also make strong prices.

Joint agents Hamilton Osborne King and O'Farrell Cleere are quoting a guideline price of £8m for 10.75 acres which originally formed part of Malahide's old golf course.

And a mile from Malahide at Wheatfield, on the Portmarnock Road, Bovale Developments - one of the companies featuring at the Flood Tribunal - is selling 13.4 acres, part of a larger parcel of land it owns in the area. Cathal McGinley of Keane Mahony Smith expects to secure around £12m for the site which was recently rezoned.

A purchaser could expect to secure a housing density of up to 14 units per acre, according to the agents, who say there is a huge waiting list for homes in the Malahide area.

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The £8m guideline for the former golf links site may prove on the conservative side, given the pent up demand for individual housing sites in Malahide. The 10.75 acres is the second part of the golf course to be offered for sale and more will eventually be developed if it is rezoned. The selling agents say the parcel of land now going on the market is ideal for a low density development of about five large detached houses per acre. The agents expect that sites of one-fifth of an acre are likely to fetch between £200,000 and £250,000 each. The estimate may prove on the low side because of the elevated location of the site and the superb views over Malahide village and across the estuary to the Island Golf Links.

The golf links site goes to auction on December 8th while the Wheatfield land is due to be sold by tender on December 10th.