Estate agent explains Jackson Way valuation

JACKSON Way Properties valued their massive compensation claim against the State on the basis that the last section of the M50 motorway cut their lands off from the upmarket Foxrock neighbourhood of south Co Dublin.

Valuer John Morley, a director of estate agents Hamilton Osborne King, told the arbitration hearing into the disputed €47 million claim that equivalent lands in neighbouring Foxrock were worth €600,000 per acre.

He had deducted €150,000 per acre for the Jackson Way lands because they did not have adequate road access and they might have had to acquire extra land to link with the nearest main road. At €450,000 per acre, the total value of the 106 acre site came to just over €47m.