STOP and easily developed land for house builders and entrepreneurial types, in Limerick’s suburb of Monaleen, Castletroy, is guided at €300,000 an acre in advance of its planned private treaty sale next month.
Guided at €6.8 million is 22.8 acres of extremely well-located greenfields site, at Monleen.
It’s in the midst of many well-established residential schemes, as well as being next to Castletroy College, a 1,500 student strong community school.
That modern school boasts billionaire IT Stripe company founders Patrick and John Collison among its alumni: the Collison brothers’ 2010-founded online payments firm Stripe got a €20 billion valuation last month, so a c €6.8m cash transfer for a few acres back home at Castletroy may not be beyond entirely their petty cash reach?
Back on this side of the Atlantic, Savills has set up a data room for access to the sales details of this 22 acres of residential development, with private treaty bids canvassed by November 13.
Surveyor James O’Donovan and Peter O’Meara, MD of Savills Cork, confidently expect keen bidding on this “prime development site, in a superb location.”
With what they say is a well-documented shortage of housing stock, “developers and investors alike will welcome this site, particularly given its superb location and ability to deliver a large volume and wide range of unit types in a strong suburban location.”
There’s already building activity locally, with popular developments nearby at the likes of Bloomfield and Glenside, with three-bed semi-ds making up to €290,000 each over the past 18-24 months, with steady sales and demand and “a healthy growth in asking prices,” adds Mr O’Donovan.
“That level of activity bodes well for future development, with the area seen as one of Limerick’s most desirable residential locations given its ease of access to and from the city centre as well as the abundance of amenities located nearby,” he adds/.
Zoning is ‘residential’ in the draft 2019-2025 LAP. The location is 6.5 kms from Limerick city centre and rail stations, just off the main M7 Limerick-Dublin road. And, it’s quite close to the Castletroy Shopping Centre and multi-screen cinema, UL and the National Technology Park, home to many large multinational firms, as well as reasonable proximity sports amenities, golf course etc.
“It’s one of the best residential development sites to come to the market for some time in Limerick, and we expect strong interest both locally and nationally. The market will see this as an ideal opportunity to acquire a large landbank capable of accommodating a large volume of house in one of Limericks most desirable residential addresses,” says Savills Peter O’Meara.
: Savills 021-4271371