Partially-developed sites among properties for sale in county
The Irish Times reports that a partially devoloped site and investment property in Rathdrum, are to be offered for sale from today at €800,000 through joint agents DTZ Sherry FitzGerald and Sherry FitzGerald O’Gorman O’Reilly.
The same agents are also marketing a development site on Main Street in Ashford.
The two Wicklow properties are being sold by receivers on behalf of the Irish Nationwide Building Society.
The Rathdrum property includes a completed retail building on Main Street extending to 852sq m (9,173sq ft). The ground is let to a Centra franchisee until 2034 at a rent of €51,000 per annum. The upper floor is currently vacant.
Also for sale is a two-story commercial building known as Teach an Cheoil ready for fit out and providing 626sq m (6,742sq ft) of space. There is permission for commercial/retail use on the ground floor and offices overhead.
The northern side of Market Square also has a substantially completed Market House with commercial use on the ground floor and planning for two apartments overhead. A development site extending to 2.93 acres is located to the west of these buildings, while the entire complex, zoned for town centre use, covers an area of 3.25 acres.
Eoin Ryan of DTZ Sherry Fitz-Gerald said that if a single buyer does not emerge for the entire property, they will offer it for sale in five lots in the knowledge that they will appeal to a wide range of purchasers including investors, occupiers and developers.
In Ashford, a guide price of €350,000 is being quoted for a development site of 4.12 acres on Main Street. It is currently let to Ashford Auctions until May 2013 at an annual rent of €18,000.
The site includes two detached agricultural buildings and an extensive yard with car parking. About 1.48 acres are zoned for town centre use, while a further 1.73 acres are zoned for a residential development. Around 0.91 of an acre along the eastern boundary is envisaged as open space.
Blessington
THE REMNANTS of a ghost housing estate in Blessington, Co Wicklow, is to be offered for sale at auction on November 21st through agent Savills.
Loman Dempsey is quoting a guide price of €350,000 plus VAT for the Milltown Gate housing scheme which was partially built by Willowbridge Developments before the market collapsed. KPMG was subsequently appointed receivers over the company.
The 4.5-acre former grounds of the local GAA club were originally acquired in 2006 for €9.2 million. The site has full planning permission for 54 houses, of which nine have been sold and occupied.
Another six houses are 80 per cent completed and are included in the sale along with 39 partly serviced sites.
The sites are laid out in two cul-de-sacs directly opposite the row of completed houses. A tarmac base has been put in place along the proposed roads on the site.
The planning permission provides for detached, semi-detached and terraced houses with a mixture of two, three and four bedrooms.
Dempsey said that with the slowdown in housing construction in all areas they had noticed “pockets of demand” in some locations including Blessington. The fact that there were six houses almost ready-to-go and a further six sites with foundations in place to allow for a phased development meant that the site should have immediate appeal to developers seeking a low entry cost and a low development opportunity.
