COSGRAVE DEVELOPMENTS will be dipping its toe back in the market in September when it launches the first new homes at the former Dún Laoghaire Golf Club in Dún Laoghaire, Co Dublin.
Cosgrave, which is one of the top 10 developers with property loans going into Nama, says it will release a small block of five houses at the 78-acre site in Dún Laoghaire and will open show houses “to test the market”.
A spokesperson said Cosgrave is taking a “wait and see approach” before building any more units. Market demand will dictate how quickly the site is developed.
Around 143 apartments are also being built which will make up the social and affordable element of the development.
Close to 1,500 homes are planned there altogether, with 848 to be built on roughly half of the 78-acre site and a further 600 in its second phase on the northern part of the site, closer to Dún Laoghaire.
Cosgrave bought the site for €20 million in 2002. There will also be offices and retail units and an eight-acre park with a lake on the southern part of the site. This covers roughly half the 78 acres and is bounded by Glenageary Road Upper (which bisects the site) and Kill Avenue. The second phase is mainly apartments in buildings of up to seven storeys.
Cosgrave bought Ballyman Glen, a 27-hole golf course in Enniskerry, and Dún Laoghaire Golf Club moved there in August 2007.
