Site in southern suburb is a rare find

A RARE opportunity, the brochure says, and indeed, it’s probably not far wrong when you have a site of just a shave under an acre with full planning permission for a 2,500 sq ft dwelling in the salubrious, Moneygourney/Maryborough Hill area.

Pierce Cuthbert of Property Choice has given a guide price of €820,000 and has seen considerable interest already.

The directions to this part of the rolling green fields in the southern suburbs means you take Maryborough Hill all the way past the Broadale Estate and turn left, with a right turn at Douglas RFC.

Here, the density of housing is low, but the properties are big and some top the 4,000 square foot mark, according to Mr Cuthbert.

As it stands now, the land comes with full planning for a 2,500 square foot house over two floors, but considering the level of investment required for the site alone, it’s likely a buyer will build bigger, rather than smaller to maximise the investment.

Alternatively, of course, it might be possible to get two, if not three houses on this site, but is unlikely based on the profile of buyer Mr Cuthbert is seeing at present.

And when bidding ends, the eventual sale price could come close to €1 million, which, when you take in the average build cost of €120 per square foot, could see a minimum of €1.4 million spent on the property.

And what’s really intriguing about all this is the number of prospective buyers with the clout for a purchase of this size. Despite the galloping market, it’s still gob smacking that the bones of €1.5 million can be shelled out so quickly, by so many.

Meanwhile, for those who are more shriven in the mortgage money stakes, there’s the option of buying by the sea at Kilbrittain for €250,000 and you get 3.5 acres at that.

Sherry FitzGerald Brennan Busteed are selling the site at Ardnacow subject to planning for a single dwelling.

It comes with views over Courtmacsherry Bay and the Old Head and is private and not overlooked, they say.