Whitechurch land sells for €1.1m, 40% above guide price

27 acres at Ballinvarrig were once earmarked for 200 two-storey homes.

Whitechurch lands

Lands in Co Cork formerly owned by Castlelands Construction have achieved almost 40% above the guide price in a recent receiver’s sale.

The circa 27 acres at Ballinvarrig, Whitechurch, which sold for €1.1m (guide was €800,000) were once earmarked, along with an adjoining eight acres, for 200 two-storey homes.

However Castlelands Construction, which built 17 houses at Castle Court, a site closer to Whitechurch village back in the naughties, was wound up in 2011.

The sale of the 26.78 acres, about 10km from Cork City, was closed last week by Lisney’s Edward Hanafin, on behalf of receiver McStay Luby.

Mr Hanafin said the buyer was a Cork investor, but not one of the more well-known developer names.

He said their intention was to build residential units, subject to planning permission, “not straight away, but over the next three to five years”, at a lower density than the original 2007 proposal.

A separate housing development is currently underway at Castle Court where OBR Construction Group, headquartered in Ballincollig, is building between 50 and 100 homes.

Mr Hanafin is also handling the sale of two adjoining mid-terrace warehouse/light industrial units (BERS D2 & G) at Little Island Business Park, which he is guiding at €750,000.

He said the “big attraction” of Units 8 & 8A is that they are on a site of about half an acre, with plenty scope for parking and open storage. Measuring approximately 835 sq m in total (8,990 sq ft), Mr Hanafin said they are ideal for warehousing/distribution or as light industrial units.

The Little Island property is about 1.2km south of the Waterford N25 Road and about 8km east of Cork city centre.

Little Island has easy access to the Dublin M8 and, via the Jack Lynch Tunnel, to the South Ring Rd, which provides access to the airport.

For more information contact Ed Hanafin on 087 221 8719 or email [e-mail] Also Amanda Isherwood on 021 427 5079 or email [e-mail]