€19m guide price for Cookstown site

A COLLECTION of industrial units in Cookstown Industrial Estate, including part of the site of the unsuccessful Cookstown Castle SHD proposal, has gone on the market with an expected guide price in the region of €19.6m.

The Echo understands that other properties in the area are transacting for approximately €130 per sq.ft., meaning the Cookstown site has the potential to get a price within the region of €19,630,000.

The 151,000 sq.ft. site was brought to the market by Cushman & Wakefield Dublin on Tuesday, comprising seven units, and the entire site will be sold with vacant possession.

Part of the site includes part of the former location of the proposed Cookstown Castle SHD.

The plans for the SHD, which were lodged by Joseph Costello Absolute Limousines, consisted of 1,104 build-to-rent apartments, but were refused permission by An Bord Pleanála last July.

The site highlighted red for sale

The appeals board said the development would set “an undesirable precedent” and would be “premature having regard to deficiencies in the water supply and wastewater sewerage network in the area”.

The site that is for sale, which is called The Cookstown Collection in the property listing on Daft.ie, is for sale by private treaty and the price of the site is available on application.

The Cookstown area has been the focus of numerous planning applications for apartment developments in recent years, including the permitted development of 252 build-to-rent apartments at 66 and 67 Fourth Avenue, and a 196-unit residential development at Units 5A-C on Second Avenue.

However, the subject site that is for sale, which is separate from the permitted residential developments, is described as “a mixed-use portfolio of industrial and office accommodation” in the property listing on Daft.