Suburban site selling for €800,000 per acre in Ballintemple

Yet more millions of euros is being paid for prime Cork development sites, including the Eir site at suburban Ballintemple.

This top suburban residential site of 5.1 acres is understood to be sale agreed, to a Dublin buyer, for about €4 million, via agents BNP Paribas and Lisney.

It’s one of the best infill residential sites to come for sale in Cork in years, and demand for houses here will be high, given its proximity to Mahon’s office parks, Blackrock, Douglas and the city.

The sale price equates to about €800,000 an acre, and has lapsed planning for 140 units, mostly apartments.

It shows a huge recovery in site values: three years ago, the former nine-acre Nemo Range site off the Douglas Road sold to an unidentified speculative purchaser, for €3m via Savills.

Even stronger is this month’s Savills ‘sale agreed’ to a Dublin purchaser of a 0.8 acre site, being vacated by Square Deal on the city’s Washington Street, for an unconfirmed €6-7 million. It may take a mix of retail/discount retail, and apartments.