Blarney's Stoneview €4.6 million 105-acre land parcel rekindles development designs of 2006
Stoneview Blarney development land, with 105 acres for sale for Nama guiding €4.6m via agent Pat Falvey of Coldwell Banker Cork
IMPORTANT development lands which formed the sizeable section of a mixed-use masterplan on the edge of Blarney for up to 2,500 new Cork homes have come to the market for Nama.
Finally put to the open market is what’s billed as “a landmark landbank,” of 42 hectares or 105 acres at Stoneview, just north of Blarney and fringing the N20 Cork-Mallow/Limerick road, as well as the main rail line linking the southern capital and Mallow/Dublin.
Given its strategic setting so close to the city, by expanding Blarney and critically served by a rail line capable of serving as a commuter link, it formed part of a very strategic land assembly in the early to mid-2000s of over 250 acres, principally involving John Fleming of Fleming Construction, and John and Michael Coleman of Coleman Brothers.
Also involved was John Bowen of Bowen Construction, who developed the Blarney Business Park alongside, where the balance of that business park's undeveloped lands are now in the ownership of John Cleary of JCD Group.
This Stoneview land parcel of 105 acres is now formally offered this week via estate agent Pat Falvey of Coldwell Banker, acting for Nama via receivers Crowe, with a price expectation of c €4.6m, or €43,000 an acre.
That is a guide sufficiently modest to attract the eye of a cross-section of stronger Munster developers who can take a medium to longer-term view of its prospects.
Given Stoneview’s original masterplan outline, designated Strategic Lap status at the time in the overall Metropolitan Cork development expectations and its mixed-use development prospects led by residential but also to include a town centre, parkland, educational, and medical opportunities, the land may be bought as a joint venture prospect, involving developers with diverse skillsets.
On the residential front, interest could be expected from the likes of O’Flynn Construction, who recently developed the other side of Blarney at Kerry Pike, as well as from O’Callaghan Properties, Glenveagh Homes, and others.
It is understood that a significant portion of the original Stoneview land, which may have extended to c250+ acres in all, have been bought separately over recent years, including some sold to a local farming family, after 178 acres was put for sale in 2012 as part of a Fleming land asset disposal in Blarney, Mallow and Clonakilty.
Primarily zoned agricultural, that 2012 land offer included pasture and tillage, while there was planning for over 400 homes on a section, subject to conditions. The guide price was €3m-€4m, or c €16 to €22,000 an acre.
With the 105 acre Stoneview balance now available, Coldwell Banker’s Pat Falvey says the subject lands “had previously formed part of a 2005/6 joint venture between Coleman Brother Developments and Fleming Construction” proposing several thousand houses.
“The lands were later subject to several large scale planning applications subject, to infrastructural improvements to the local road network along with a proposed rail stop connecting the lands to Cork City nine kms to the east and the town of Mallow to the north.
“Several years later, the land now provides a rare opportunity to avail of a land offering that has the potential to support a large scale mixed-use development [subject to planning permission, and are being sold on an ‘as-is’ basis]," said Mr Falvey.
Since 2019's Cork City boundary extension, the land is now part of the city local authority's jurisdiction, and is close to another sizeable ear-marked future development location at Mondard: both need considerable infrastructure delivery and provision under NPF/Project Ireland 2040 guidelines.
Details: Coldwell Banker 021 4274323
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