Lisney in Belfast is reporting remarkable interest in apartment development sites in the "leafy" eastern suburbs of the city following a number of highly successful sales. The agents are quoting a guideline price of £350,000 sterling for one-third of an acre at Dundela Park, off the Hollywood Road, in Belfast. The site has planning permission for nine to 12 units of around 750 sq. ft.
Helen Brennan, agency surveyor with Lisney who is handling the Dundela Park sale, pointed to some significant recent sales by Lisney in east Belfast, which have set record prices for apartment development sites in the city suburbs. In March, Lisney secured £1.025 million at auction for a 1.35-acre site at Ballygowan Road/Rosemount Park on the slopes over the Craigantlet Hills, overlooking Belfast Lough. The site has permission for 19 apartments, which sets a cost per unit of around £54,000. Also this year, the same agents secured £450,000 for a half-acre site on the Upper Newtownards Road with permission for 12 units, setting a site price per unit of around £37,500.
Lisney is also selling by private treaty a 0.69-acre site on Sandown Road, in the Belmont area of east Belfast. It is understood the price on the property, for which the original guideline was £700,000, now stands close to £900,000.
