With the demand for new houses in the greater Dublin area expected to remain strong for several years to come, University College, Dublin, can expect a handsome return from the sale of 91 acres of farmland on the outskirts of Lucan, in west Dublin. Joint agents DTZ Sherry FitzGerald and McDonald Brothers are likely to secure in excess of £2 million for the land, which is to be sold by tender on June 2nd.
St Catherine's Farm is located between Lucan and Leixlip, just eight miles from the city centre. It has been farmed by the college for many years and offers short to medium-term development potential, says John McDonald, of McDonald Brothers.
Lucan has been one of the fastest growing urban areas of the country over the past decade with thousands of houses being completed within a few miles of the village.
A considerable amount of land was recently rezoned for housing but with builders still looking for sites on the outskirts of Dublin, and well able to pay for them because of the sharp increase in new house prices, the Lucan land will attract strong attention.
The fact that it is currently zoned for agricultural use is unlikely to deter interested parties.
With the Government exerting pressure on local authorities in the greater Dublin area to rezone an adequate volume of land to meet the housing needs of the next decade, there seems little doubt that areas such as St Catherine's Farm will eventually be built on.
