Waterock a solid land bank option

Cities around the country are screaming out for housing stock. The knock-on effect is skyrocketing prices, leading to claims that it will soon be beyond the average family to afford to live in any of our cities. In fact this could well already be the case in some sectors.

It has led to an onus on towns outside of cities, but close enough for reasonable access, to step up to the mark. It has also put towns like Midleton, on a good infrastructural line just 20km east of Cork city centre, firmly on the map.

The town has had a busy 2017 with a number of high profile blocks of land changing hands. The former Agricola site on Mill Road, which came with full planning permission for 38 houses, was sold for €500,000 per acre. Zoned land at Charleston House, which has now gone sale agreed, is thought to have fetched in the region of €300,000 per acre. It has also been rumoured that the sale of a large portion of land within the overall Waterock development has recently been agreed, subject to planning permission, in an off market transaction.