Zoned house-development land at Cork’s Montenotte, with scope for 40 new homes, is selling this week for €2m.
It’s being sold for the Dominican Fathers, who run a residential and day retreat centre in a period villa, called Ennismore (original East View), on far more extensive, adjacent lands, just off the northern ring road and the Middle Glanmire Road.
Being sold via agents, GVA Donal O Buachalla, are 4.95 acres, at Ennismore: it is said to be prime residential development land, and it equates to €400,000 per acre, or c €50,000 a house, at a density of eight units/sites to the acre.
The zoned five acres are part of a larger, undeveloped landbank at Ennismore. This is currently in agricultural use and controlled by the religious order, and is deemeded surplus to their requirements.
It’s adjacent to the upmarket low/medium scheme, Woodlands Demesne, done in the early 2000s by McInerney Homes, with which it shares similar zoning.
Roger Keogh, of GVA Donal O’Buachalla, says a feasibility study of the land indicated a scheme of 36-40 units would be market-appropriate.
Also expected to come to market soon, in the same east-of-city vicinity, are 40 acres of land to the front and rear of Lotabeg House, Tivoli, the period house owned for over a century by the Hart family and where an auction of contents, last month, fetched €800,000, via Mealys.
Estate agents, Goffs, are now preparing for the sale of Lotabeg House and lands, for the Hart estate, with much wooded ground in front, and development land to the back.
It touches on the Ashmount scheme, done by O’Brien and O’Flynn, above and to the side of Silversprings’ Clayton Hotel, and may come to market by late summer or early autumn.
Meanwhile, this week’s Ennismore lands follow on from last month’s two large period homes — 20,000 sq ft of Montenotte mansion villas — on five acres priced at €1.6m with DTZ with very limited development scope.
There’ll be different interest in these zoned Ennismore lands, in an otherwise relatively built-up district, within a walk of old Montenotte and the Middle Glanmire Road, St Luke’s Cross with Cork city centre over two kilometres to the west.
Agent Jack Scales of GVA Donal O Buachalla quotes €2m, and says zoning is ‘RE/ Residential, Local Services and Institutional Uses’ in the current Cork City Development Plan, “which will make it appealing to builders and developers and nursing-home operators seeking development opportunities.”
On the city/St Luke’s side of Ennismore, the land has 200 metres of frontage to the Middle Glanmire Road, with views over the River Lee and city, and “development of the site would offer an opportunity to develop and create a contemporary residential development within an attractive parkland setting,” say the agents.
The original villa Ennismore, was built in the C19th by the Leycester family, (who also owned the Montenotte mansionVosterburg,) and they sold it in 1952.
Vendors are the Dominican Fathers, who run a community and retreat centre in St Dominic’s Retreat House, and “proceeds from the transaction will be invested to support and sustain this mission,” it’s stated.
DETAILS: GVA Donal O’Buachalla, 01-6762711
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