A residential site of 6.14 acres near the Silver Tassie bar at Loughlinstown, Co Dublin, is expected to make over £6 million (€7.62m) when it is sold by tender on March 21st. The joint selling agents are Insignia Richard Ellis Gunne and Andrew Bradley of Bradley Estates.
The site, partially in woodlands, has been assembled from six private owners and the Eastern Regional Health Authority. The last Bacon report identified Cherrywood as an area suited to high density development because of the likelihood of the Luas being extended to the area.
Accordingly, the selling agents say there is a strong case for revising the low density zoning objective for the site. A density of 30 to 40 apartments to the acre would be considered the norm in this area. However, with development restrictions at the rear of the site, the agents say that just over 100 residential units could be provided, half of them at the front of the site.
There has been considerable development in the Loughlinstown area in recent years, much of it on the adjacent Druid's Glen, where the Wexford-based housebuilders, William Neville and Co, have persuaded the planners to allow a higher density development than originally allowed. However, Nevilles has been slow to develop the site. Dunloe Ewart and British Land are developing the Cherrywood Science & Technology Park on adjoining land.
The site going for sale is particularly well located along the N11, a short distance from where it will link into the final extension of the M50 ring-road.
