€9m guide price for prime development site on Naas Road
By William O'Connor
APPROXIMATELY 7.45 acres of land on the Naas Road, close to the Red Cow roundabout, with significant development potential has been put on the market.
CBRE say the land is by way of private treaty, and has a guide price of €9m.
7.45 acres close to Red Cow roundabout is currently occupied by several dwellings
The subject site is located on the northern side of the N7 Naas Road, west of its intersection with the Monastery Road Luas station overpass.
The subject lands extend to approx. 7.45 acres and benefit from extensive frontage of 250m onto the Naas Road.
The site is currently occupied by several dwellings, industrial structures and a disused yard.
The site has two separate zoning objectives under the South Dublin County Council Development Plan 2016-2022. Approx. 2.35 acres of the site is zoned R2 – Existing Residential, while the remaining 5.1 acres are zoned “EE – Industrial, Enterprise & Employment”.
Whilst the site does not currently have planning permission in place, a planning report undertaken by Hughes Planning and Development Consultants will provide interested parties with comfort regarding the future development potential of the subject site.
Earlier this year, a significant land holding of approx. 440 acres of EE zoned lands in the Naas Road/ Ballymount area were rezoned to ‘Regeneration’ (REGEN) under the SDCC Development Plan which allows for residential development (SPP).
These lands are located within close proximity to the subject site and should assist in setting a precedent for residential development of previously industrial zoned lands.
Darragh Deasy, Senior Surveyor, Development Land commented: “The site presents interested parties with the opportunity to acquire a strategic land holding, within close proximity to existing transport infrastructure and residential amenities, with significant future development potential.
“The recent acquisition by Hibernia REIT of 92 acres of unzoned land on the Naas Road would suggest that there is strong investor confidence in the future development potential of the surrounding area which should appeal to interested parties.”
