Religious order sells its site for a reported €20m
By Aideen O'Flaherty
AN 8.6 acre site, which adjoins the planned location for a HSE-run primary health care centre on Taylors Lane in Ballyboden, Rathfarnham, has been sold by the Augustinian religious order to a major property developer for a reported €20m.
The site went on the market last March with a guide price of €18m.
Aerial View of Taylors Lane
Shannon Homes, who are behind a number of sizeable residential developments around Dublin in locations such as Portmarnock, Dun Laoghaire and Stillorgan, acquired the site this week.
The sale was handled by commercial property estate agents GVA Donal O Buachalla, and a feasibility study that was carried out on the site by John Fleming Architects, in advance of the sale, shows that there could be potential for the development of a 212-unit housing development, or a build-to-rent development consisting of 436 apartments at the site, subject to planning permission.
It is understood that the money the Augustinian order has received as a result of the sale of land will be used to support the religious order’s ministry in Ireland, and the order’s missions overseas.
