Development impetus for Fermoy as half of former €22.5m mart site bought by Tesco for €1.5m

Fermoy Mart site fetched €22.5m in 2007, undeveloped since. Now, half has resold for €1.5m to Tesco, with the balance on offer for a further €1m, after a €38m flood prevention investment

The Fermoy town centre site just bought by Tesco for c €1.5m, and the adjacent site of 3.8 acres, guided at €1m, now offered for sale by Savills.

A new development impetus is on the way for the North Cork town of Fermoy, with a long-mothballed town centre site just bought by Tesco, another alongside on the old Fermoy Mart site now offered for sale, and as new house building begins to pick up the pace, from a very low base.

The momentum comes as Cork County Council has identified a need for 800 new homes by 2028 in Fermoy, with population growth envisaged to rise by over 25% to nearly 9,000 and with the local authority keen to see commercial activity also regenerate the Blackwater river community.