The rush to sell development land in the Dublin area is continuing. Hamilton Osborne King is quoting a guide price of around £10 million for a housing site of 11.4 acres near the new DART station in Portmarnock, north Dublin, which is to be sold by tender.
The site has 158 metres of frontage on to New Road and is zoned for starter homes. A feasibility study conducted by O'Mahony Pike architects says the site could accommodate a mixture of apartments, duplex units and townhouses ranging in height from two to four storeys. After preliminary discussions with the planners, the architects suggest that 385 units, or 34 per acre, might be allowed.
The location of the site, close to the new DART station, will allow commuters easy access to the city centre. The planners have begun to support the principle of high-density developments beside important transport hubs, and once this site is developed, it seems inevitable that the adjoining farmland will also be zoned for housing. The Portmarnock DART station is expected to have a car-park to encourage commuters to use the service rather than drive into the city.
Donal Kelleher of HOK estimates that at today's values, one and two-bedroom apartments in Portmarnock would sell at £130,000 and £175,000; two/ three bedroom duplex units from £165,000 to £195,000 and three-bedroom houses from £210,000 to £245,000.
