Residential development site sold in excess of €5.5m

Residential development site sold in excess of €5.5m

By William O’Connor 

A 6.7 acre residential development site at Fortunestown Lane opposite Citywest Shopping centre has been sold in excess of €5.5 million.

Selling agents Knight Frank announced the recent sale which is in the Cooldown Commons area of Citywest.

Fortunestown Lane

The 6.7 acre site sold for in excess of €5.5 million

The subject site, extending to approx. 6.7 acres, has planning permission in place for 128 number residential units and commercial space and the new developer will have an opportunity to acquire a “ready to go” site in a sought-after residential location which would be popular amongst first time buyers.

The site benefits from many transport links and is situated on the doorstep of the Fortunestown Stop on the Luas Red Line and is in close proximity to the N7 Naas Road. 

A number of Dublin Bus services run along the N82 Citywest Road to the east, all of which make the site highly accessible to Dublin City Centre, Tallaght Town Centre and the M50 Motorway.

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The site also benefits from being situated in a significant employment catchment area with Citywest Business Campus, Tallaght Business Park and Baldonnell Business Park all close by.

Kieran Bray of Knight Frank commented: “The site attracted considerable interest given its attractive lot size and the dearth of ready-to-go opportunities of this scale in Dublin at present, particularly in an area that would fall into the optimum First Time Buyer price category and also qualify for the ‘Help to Buy’ rebate scheme.

“This, coupled with the property’s strategic location and excellent transport links, reflects the strong price achieved”.

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