KEEN interest in zoned housing land, coming to market in Cork’s western suburbs at a guide of €530,000 per acre, is expected due to its location — and to the rapidly advancing pace of an adjoining O’Flynn Construction new development, Steeplewoods.
Listed this week with agent Trevor McCarthy of Irish & European is 6.14 acres of development land site just off the Model Farm Road at Carrigrohane, within easy reach of Bishopstown, Ballincollig, UCC, and CIT, and the city’s main hospitals and business campuses, as well as being close to the Ballincollig bypass link road. It is zoned for development, and is being sold ‘as is’, without planning permission having been sought for it which leaves options for developers/builders as to what house types and density they’d envisage for it.
It’s an executors sale, being sold for the same family which early last year put 4.17 acres with planning in place on it for 27 houses, mostly large detacheds (16), with the balance being large semi-d s of close to 1,500 sq ft.
That first, smaller tranche of land was bought (also via Irish & European) by developer Michael O’Flynn, and O’Flynn Construction are well advanced on the first six large detacheds of up to 2,900 sq ft, with a showhouse due in late summer when sales will kick off via Sherry FitzGerald. The scheme, called Steeplewoods, has a preregistration website, but no price details as of yet, and the 10 semis will be offered in a later phase.
It’s understood that the 4.17 acres sold for close to €3 million, which equates to a strong €115,000 average price per house ‘stand’. Planning was granted for 27 houses, but the vendors retained one site for family use.
Whoever comes to bid on this second, 6.14 acres (and O’Flynns can be expected to show an interest) would be keen to see how OFC price their offers, especially their c 1,500 sq ft semis as this is the point at which there’s strongest demand.
The land has “Medium A” density zoning which gives potential to accommodate up to a maximum 124 units in a mix of units and sizes, says Trevor McCarthy.
At that sort of density, it equates to a house ‘stand’ price of c €30,000, versus the €115,000 per stand paid for the adjoining land which will be predominantly detacheds. The land, sloping gently, is adjacent to St Oliver’s Cemetery, by the start of the Killumney Road at its junction with Model Farm Road. Access will be via Steeplewoods to the south. If further access can be negotiated to Model Farm Road, it would add a cachet to the any future development. Model Farm Road is set to accommodate several other new home schemes in the coming few years, including at the former Nangles nurseries site.
Details: Irish & European 021-4277606.
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