120-home potential at €2.75m top of the town Cobh site

23 acres of residential development land, off Tay Road, is being sold subject to planning permission 

23 acres near Ticknock in Cobh is for sale for €2.75m via Sherry FitzGerald Commercial. 

RESIDENTIAL development land with potential to accommodate up to 120 homes is on the market in Cobh for €2.75m, subject to planning permission.

The substantial 23a/9.3ha site, just off the Tay Road, on the northern outskirts of Cobh town, has a trio of zonings under the Cork County Development Plan, of which the largest relates to residential (8.4a/3.39ha). The remaining acreage is zoned as Business and General Employment (8.26a/ 3.34ha) and Community (6.46a/2.61ha).

It’s the first time the privately-owned land has come to market and it’s quite close to where a greenfield development site sold in 2023 for €1.65m. That sale, jointly handled by Savills and Cohalan Downing, involved a 54-acre site at Ticknock, also by the Tay Road, of which 34 acres was zoned for medium density housing. It was bought by a small private company that invests in and holds onto land. Based on housing density guidelines, it could accommodate more than 400 homes. Sold without planning permission, it has so far not been developed.

The 54-acre site that sold in Q1 2023 for €1.65m

Sherry FitzGerald is handling the sale of the nearby 23a site, which has two access points, 320m of road frontage and a substantially higher guide price of €120,000 per acre compared to €30,550 per acre for the 54-acre landbank. However as Sherry FitzGerald commercial agents David McCarthy and Amanda Isherwood pointed out, their deal is subject to planning permission.

“As the sale is subject to planning permission, it limits the risk for developers,” the agents said.

While the current zoning allows for up to 120 homes on the site, the agents believe there could be wriggle room.

“We think there is an opportunity to increase the residential zoning on the site,” they said.

Their optimism is fuelled by the current Cork County Development Plan which sets out a target population growth of 12% in Cobh by 2028. In order to accommodate this anticipated increase, an additional 1,316 housing units will be required up to 2028.

Mr McCarthy said the site “presents a rare opportunity to acquire a substantial landholding positioned in an area of continued residential demand and infrastructural growth, offering medium to long-term development opportunity, subject to rezoning.”

The site is adjacent to existing residential development Cooline (originally by Fleming Construction) where four-bedroom semi-ds are currently selling for well into the €400,000s. It’s close to Cluain Ard too, a newer scheme by Sirio Homes, where three-bed semis are selling for in excess of €300,000.

West of Ticknock Retail Park, which is anchored by SuperValu, Aldi and Lidl, the site is within walking distance of Cobh town centre, local schools, supermarkets and all local amenities, while the huge appeal is the availability of a rail link between Cobh and Cork city.

Cobh town centre: Picture: H-Pix

As well as Cork city centre, the line links to the major employment hubs of Little Island and Carrigtwohill and back east to Midleton, where a Greenway along the balance of the original rail line to Youghal was recently completed.

Along with the commuter rail service, Cobh has regular bus services, including Cobh Connect, an hourly service between the town and Cork city, 23km west.

Cobh, an historic seaport town, boasts natural beauty, a variety of schools and services, and internationally acclaimed heritage attractions like Spike Island and the Titanic Centre. Its booming cruise liner trade injects significant revenue into the local economy, while boosting Cobh’s global profile. Greater affordability of homes and excellent rail connections makes it an increasingly attractive destination for house hunters

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