Appealing site ideal for grand designer

THE asking price isn’t bad, and considering how cheap it is to build at the moment, then a Castle Road, Monkstown site may prove appealing to the amateur developer.

And while that word carries odium right now, the market is wide open for the small guy like never before. Only problem is that the proto-developer has to have at least 50% of the project costs in hand.

Sites have come crashing down in price, and building costs per foot are similar, so it’s a good time for that property ladder/grand design project. Only problem is a wait of 10 years or more before capital appreciation kicks in.

In the case of this site close to Monkstown Tennis Club, the guide is now in the region of €180,000 and there’s full planning permission for two townhouses, but the option is there to re-apply for a single dwelling.

Or, someone who can afford to take a punt might stick to the original plans and build two houses – one for living and one for letting.

The selling agent is Catherine McAuliffe of Savills.