18-house site for €1.4m in much in demand Kinsale

Tommy Barker says the setting has the highest Eicode property values outside of Dublin

This Kinsale site with full planning permission for  18 units is on the market for €1.4 million with Savills, Cork.

A KINSALE address, within a short walk of one of the country's top tourist and lifestyle relocation towns in Covid-19 times will pique interest in a residential development site fresh to the market.

Add in the fact it has full planning permission for 18 market-friendly units in a setting with the highest Eicode property values outside of Dublin, and it might even see development start off by 2021.

The site, along Barrack Street, linking to Cork Street and five minutes from the new SuperValu, is being sold for the Graepel family, who have a 60-year-old steel perforating and weaving business, with a plant nearby on Barrack Green.

It's on offer with agent James O'Donovan of Savills Cork, with a  €1.4 million-plus price guide: this equates to €77,000 per stand.

Described as a greenfield site (there are a  few older detached houses currently on it) it adjoins the now-completed Kinsale Manor development of 136 houses done by Gannon Homes and which is now effectively sold out with three-bed semi-ds of 1,200 sq ft topped out there at c €350,000, and 1,560 sq ft detacheds at c €500k.

As Kinsale Manor wrapped up this year, its selling agents (Sherry FitzGerald) started registering names for an even larger Kinsale development of  200 houses due at AbbeyFort, the former Dunboy Construction site on the town's fringes, now being developed by Dublin-based Hatley Construction, which is associated with Gannon Homes.

AbbeyFort is the largest development in Kinsale in many years, and Kinsale was one of the Munster towns to bounce back from the last recession nearly five years ago with a number of new house developments, including Cumnor's major ongoing project at Convent Garden.

New home sales, post-recovery, have been in excess of 200 units.

This site provides developers with an opportunity to develop a high-end residential scheme within walking distance of Kinsale town centre

The lot-size now at this 3.4 acres makes it attractive for development, especially to smaller operators, given it has FPP for 14 semi-detacheds of 1,250-1,400 sq ft, and four four-bed detacheds of 2,320 sq ft, with design by Cork-based Meitheal Architects.

Expecting interest from both developers and builders, Savills' James O’Donovan says this compact and easily developed land offer via private treaty is "a fantastic opportunity to acquire a superb residential development site with the benefit of full planning permission in one of Cork's most popular residential addresses.

"The demand for housing in Kinsale has been evident over the last number of years:  this site provides developers with an opportunity to develop a high-end residential scheme within walking distance of Kinsale town centre," he says, adding it's rare for an "unencumbered" site like with FPP  permission come to the open market.

The expectation is that the 18 units to be built here will hit a mid-higher end of the local market, abetted by the recent expansion of the Help to Buy (HTB) scheme which enables First Time Buyers claim income refunds of up to €30,000 on a new house purchase.

Median prices in this south/west  Cork setting and at the start of the Wild Atlantic Way are c €350,000, nearly €100,000 over the overall median for County Cork, it's reported.

Details: Savills 021-4271371