FOR SALE BY PRIVATE TREATY - 7 REGIONAL DEVELOPMENT SITES IN CORK, GALWAY, LIMERICK & TIPPERARY - Cushman & Wakefield
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FOR SALE BY PRIVATE TREATY 7 REGIONAL DEVELOPMENT SITES IN CORK, GALWAY, LIMERICK & TIPPERARY
TOTAL
ACREAGE
105
Macroom Moycullen
Moycullen Galway 8.70 Acres 18.23 Acres
Clonmel Tipperary
Alandale Limerick
Bloomfield Limerick
Cobh Clonmel
18.35 Acres 13.75 Acres
Midleton Cork
Cobh Cork
Macroom Cork Midleton Alandale
18.00 Acres 12.08 Acres
Bloomfield
16.23 Acres
Areas Approximate
Summary
On behalf of Kieran Wallace & Padraic
Monaghan of KPMG, Receivers to McInerney
Homes Ltd (In Receivership), DTZ Sherry
FitzGerald are delighted to present the
Market
Overview
The development land market has
performed well over the last numbers of
42.49 Ha
(105 Acres)
7
Regional residential
Compass Collection; an outstanding years, however has been slow to deliver development sites
collection of residential development up new opportunities, particular in key approximately
opportunities located across the south regional centres. This is beginning to turn Former McInerney Homes
& west of Ireland. The entire offers an however, with the recovery in regional
exceptional opportunity to acquire a regional house prices, bringing confidence back to
residential development portfolio which the development market. The viability of
offers asset management & development residential development in the regional
7
opportunities to add value. urban centres has improved significantly as
49
house prices have improved.
The collection of sites offers the purchaser
a unique opportunity to gain a significant There have been very few sites of this nature
foothold in the rapidly recovering regional released to the market in recent times and
land market, with a broad geographic spread the fact that this is available as a portfolio
Residential units at
of assets. The sites offer significant scope is likely to appeal to a wide range of buyers. Commercial units various stages of
for large scale residential development to These unfinished housing estates attract
benefit from the lack of supply of new home active participants in the market as they completion
development in these key regional centres. are ready to go as opposed to traditional
greenfield development opportunities,
which generally have a lead in time of 2
Proposal years before revenue can be realised.
Planning permission/ Available in
1
The entire is for sale by Private Treaty or in This is an exceptional opportunity to acquire
potential to deliver circa
800
individual lots. We are inviting offers for the partly complete units that are now viable
entire in excess of €13,000,000 (Thirteen to complete and be ahead of the curve in
million euro) subject to contract and capitalising on the turn in the market.
exclusive of VAT.
homes or more lots
TO ACCESS THE DATA ROOM, PLEASE REGISTER HERE
http://dtzsherryfitzgerald-thecompasscollection.com
Moycullen, Galway
Bun Na Coille, Moycullen, Galway
DATAROOM
http://dtzsherryfitzgerald-thecompasscollection.com
LOCATION
The subject lands are located in the village of Moycullen, 10km
north-west of Galway City along the N59. The properties are
located in the Coill Ard and Bun na Coille estates approximately
0.5km from the village centre on Mountain Road.
Moycullen
DESCRIPTION Galway
The subject property comprises development land located within
the Coill Ard and Bun na Coille estates. The land extends to a
total of approximately 7.37 hectares (18.23 acres) with planning
permission for 113 residential units on a portion of the lands
allowing for further development SPP. The property includes
seven housing units at various stages of completion.
CEARNOG
PLANNING NUA SC
An extension of planning permission was granted by Galway
County Council under reference no. 12/1112 for full permission
MOYCULLEN
for a residential development consisting of 113 residential units.
Original planning reference no. 06/5813.
GUIDE PRICE €2.25m
20
L13
N5
9
General Enquiries Donal Kellegher Contact Details Patricia Staunton
+353 1 639 9248 patricia.staunton@dtz.ie
donal.kellegher@dtz.ie
Sean Coyne SITE
Rory Breen sean.coyne@dtz.ie
+353 1 639 9644 DTZ Sherry FitzGerald
rory.breen@dtz.ie Unit 2, Dockgate
Dock Road
DTZ Sherry FitzGerald Galway
164 Shelbourne Road Tel: +353 0(91) 569 181
Ballsbridge, Dublin 4
Tel: +353 (0)1 639 9300
Clonmel, Tipperary
Crann Ard, Clonmel, Tipperary
DATAROOM
http://dtzsherryfitzgerald-thecompasscollection.com
LOCATION
Clonmel town is located in the southeast, approximately 180km
southeast of Dublin, 49km west of Waterford, 80km south east of
Limerick and 95km north east of Cork. It is the key administrative town
in South Tipperary with a population of 20,885 people (Census 2011). The
subject property is located on the west side of the Fethard Road (R689)
approximately 3km north of Clonmel town and approximately 2km north Clonmel
of the N24 which acts as a ring road on the northern edge of Clonmel and Tipperary
is the principal route into and out of the town.
DESCRIPTION
The property comprises approximately 5.56 hectares (13.75 acres)
of development land. These lands did form part of a larger planning
permission grant (04/1175, 07/1627 & 06/1317) which was partly developed.
The floor slab for 11 of the houses have been laid. SITE
There is also a built ground floor retail unit with a fully fitted office unit
overhead located at the entrance to the development which extends to
approx. 151 sq m (1,629 sq ft).
R689
PLANNING
Under the Clonmel and Environs Development Plan 2013 the property is
located in an area zoned part ‘New Residential’ ‘Residential’.
R6
GUIDE PRICE €550,000
88
General Enquiries Donal Kellegher
+353 1 639 9248
donal.kellegher@dtz.ie
Contact Details John Buckley
john.buckley@dtz.ie CLONMEL
Muireann Griffin LIT
muireann.griffin@dtz.ie TIPPERARY
Rory Breen
+353 1 639 9644 DTZ Sherry FitzGerald
COLLEGE
N24
rory.breen@dtz.ie 6 Shannon Street
Limerick
DTZ Sherry FitzGerald CLONMEL
Tel: +353 0(61) 418 111 TRAIN
164 Shelbourne Road STATION
Ballsbridge, Dublin 4
Tel: +353 (0)1 639 9300
Alandale, Limerick
Alandale Square, Courtbrack Avenue, Limerick
DATAROOM
http://dtzsherryfitzgerald-thecompasscollection.com
LOCATION
Alandale is a mature and sought after residential location situated in close
proximity to the South Circular Road, approximately 1km south west of
Limerick City Centre. The area surrounding Alandale has a combination
of residential, educational and commercial uses. The site which is close to
Mary Immaculate College, benefits from direct access to the Dock Road
which services Limerick city centre and the Southern Ring Road/Limerick
Tunnel.
Alandale
DESCRIPTION Limerick
The subject property comprises approximately 4.88 hectares (12.08 acres)
of development land together with a mixture of completed office units
and 3 housing units at various stages of completion. These lands did form
part of a larger planning permission grant (06/230, 09/31, 09/289, 09/323)
which was partly developed.
PLANNING
Planning policy for the area is contained within the Limerick City 27
Development Plan 2010 - 2016. Under this plan the subject site is located R5
in an area zoned 2A “Residential” and partially zoned “5A Mixed Use”.
Y
Q UA
GUIDE PRICE €2.5m
NON
AT
BO MA
AN
M LL
R SH
EA OW
ST
RIVE
ST
.
R 510
General Enquiries Donal Kellegher Contact Details John Buckley
+353 1 639 9248 john.buckley@dtz.ie AD
ALANDALE
RO
donal.kellegher@dtz.ie DO
CK
Muireann Griffin
Rory Breen muireann.griffin@dtz.ie
UE
ELL AVEN
+353 1 639 9644 DTZ Sherry FitzGerald ASHTOWN
SHOPPING MARY
SITE
rory.breen@dtz.ie 6 Shannon Street CENTRE
AS
HB
IMMACULATE
COLLEGE
OU
Limerick
O’CONN
RN
EA
DTZ Sherry FitzGerald Tel: +353 0(61) 418 111
VE
NE
164 Shelbourne Road W
ST.
Ballsbridge, Dublin 4
Tel: +353 (0)1 639 9300
Annacotty, Limerick
Bloomfield, Annacotty, Limerick
DATAROOM
http://dtzsherryfitzgerald-thecompasscollection.com
LOCATION
Bloomfield is situated in Annacotty, a popular residential location, on the
Newtown Road, approximately 6km east of Limerick City centre. Annacotty
is well served by local amenities including schools, shops and entertainment
options and is within close proximity to University of Limerick and the
National Technological Park. The area also benefits from direct access to
the M7 Motorway servicing Dublin and the Southern Ring Road.
DESCRIPTION Alandale
Bloomfield
The subject property comprises approximately 6.57 hectares (16.23 acres) Limerick
Limerick
of residential development land together with 6 housing units at various
stages of completion. Full planning permission is in place for a further
170 units. Planning was granted under planning reference 09/374 and
extended under reference 14/70454 until September 2019 for 170 residential M7 / N24
properties. The proposed scheme provides for a mixture of semi-detached CASTLETROY
and detached houses together with terraced units and apartments.
R445
PLANNING
Planning policy for the area is contained within the Limerick County Council LIME
ANNACOTTY
RICK
“Castletroy Local Area Plan 2009 – 2015”. The property is located in an area
zoned “Existing Residential”.
SITE
GUIDE PRICE €2.7m
M7
General Enquiries Donal Kellegher
+353 1 639 9248
Contact Details John Buckley
john.buckley@dtz.ie R5
BLOOMFIELD
27
donal.kellegher@dtz.ie
Muireann Griffin M7 / N24
Rory Breen muireann.griffin@dtz.ie BALLYSIMON
+353 1 639 9644 DTZ Sherry FitzGerald
rory.breen@dtz.ie 6 Shannon Street
Limerick
DTZ Sherry FitzGerald Tel: +353 0(61) 418 111
164 Shelbourne Road
Ballsbridge, Dublin 4
Tel: +353 (0)1 639 9300Midleton, Cork
Broomfield, Midleton, Cork
DATAROOM
http://dtzsherryfitzgerald-thecompasscollection.com
LOCATION
Midleton is a satellite town situated in metropolitan Cork, approximately
20km east of Cork city. The area benefits from excellent transport links to
and from Cork city centre via the N25 and the Cork–Midleton train line.
Broomfield is situated in a mature residential area 1.5km approximately
north of Midleton town centre.
DESCRIPTION
The subject property forms part of Broomfield, an existing residential
development and comprises approximately 4.86 hectares (12 acres) of zoned
Midleton, Cork
land, 2.43 hectares (6 acres) outside the settlement boundary, 8 housing
units at various stages of completion, floor slabs laid for 3 detached houses
and a former apartment block site.
ME
PLANNING
ADO
The 4.86 hectares (12 acres) of undeveloped lands is contained within SITE
WLAN D
the existing built-up area in the Midleton Local Area Plan 2011. The 2.43
hectares (6 acres) are located outside the settlement boundary, however
S LA
were previously included in a grant of planning permission for residential
R6
NE
development (Planning Ref. 08/8103) which provided for 137 residential
26
units.
MIL
GUIDE PRICE €2.25m
27
.
RD
LR
R6
EF
LI
OA
MA
D
MIDDLETON
NORTHERN RE
IN
TOWN
ST.
General Enquiries Donal Kellegher Contact Details Seamus Costello CENTRE
+353 1 639 9248 seamus.costello@dtz.ie
MIDLETON
donal.kellegher@dtz.ie N25
DTZ Sherry FitzGerald
Rory Breen 6 Lapp’s Quay
+353 1 639 9644 Cork
rory.breen@dtz.ie Tel: +353 0(21) 427 5454
DTZ Sherry FitzGerald
164 Shelbourne Road
Ballsbridge, Dublin 4
Tel: +353 (0)1 639 9300Cobh, Cork
Cluain Ard, Cobh, Co. Cork
DATAROOM
http://dtzsherryfitzgerald-thecompasscollection.com
LOCATION
Cobh is a satellite town located approximately 22km south east of Cork
City centre. It has excellent accessibility to Cork City, by road, frequent rail
service and cross river Ferry. Cobh is well serviced by schools, shopping,
and sport & leisure facilities along with being a tourist centre. Cluain Ard is
situated approximately 1.5km north of Cobh Town Centre.
DESCRIPTION
The subject property forms part of Cluain Ard, an existing residential
development and comprises approximately 7.08 hectares (17.5 acres) of Cobh, Cork
undeveloped residential zoned land, a former crèche site 0.34 hectares
(0.85 acres), 4 housing units at various stages of completion and 3 serviced
sites.
PLANNING
The 7.42 hectares (18.35 acre) parcel of lands is contained within a medium
density residential development zone (R-03) in the Midleton Local Area
Plan 2011; Dec ’14 Amendments (Housing Density) to LAP. These lands did
form part of a larger planning permission grant (04/6297 & 08/5240) which
was partly developed. SITE
GUIDE PRICE €1.75m
COBH
TOWN
CENTRE
General Enquiries Donal Kellegher Contact Details Seamus Costello
+353 1 639 9248 seamus.costello@dtz.ie
donal.kellegher@dtz.ie
DTZ Sherry FitzGerald COBH TRAIN
Rory Breen 6 Lapp’s Quay R624 STATION
+353 1 639 9644 Cork
rory.breen@dtz.ie Tel: +353 0(21) 427 5454
DTZ Sherry FitzGerald
164 Shelbourne Road
Ballsbridge, Dublin 4
Tel: +353 (0)1 639 9300Macroom, Cork
Meadowlands, Macroom, Cork
DATAROOM
http://dtzsherryfitzgerald-thecompasscollection.com
LOCATION
Macroom is the principal town in the mid-Cork region approximately
40km west of Cork City, on the N22 (Cork to Killarney roadway).
Macroom acts as a service centre for the town and its surrounding
hinterland and is well serviced by retail, local services, schools,
sporting and leisure facilities. Meadowlands is approximately 1km
north of Macroom town centre.
DESCRIPTION
The subject property forms part of Meadowlands, an existing
residential development and comprises approximately 3.52 hectares Macroom, Cork
(8.7 acres) of undeveloped residential zoned land and a former
crèche site 0.07 hectares (0.19 acres). There are also 10 housing units
at various stages of completion.
PLANNING
The lands have planning permission for 106 dwellings as granted
under Planning Ref. No. 08/54057 which has been extended by Ref.
No. 14/05160 until 07/01/2020. The lands are contained within a
medium density residential development zoning in the Macroom
Local Area Plan 2009-2015, as amended.
GUIDE PRICE €750,000 SITE
General Enquiries Donal Kellegher Contact Details Seamus Costello
R5
+353 1 639 9248 seamus.costello@dtz.ie
MACROOM
82
donal.kellegher@dtz.ie
DTZ Sherry FitzGerald
Rory Breen 6 Lapp’s Quay
+353 1 639 9644 Cork N22
rory.breen@dtz.ie Tel: +353 0(21) 427 5454 MACROOM
TOWN
CENTRE
DTZ Sherry FitzGerald
164 Shelbourne Road
Ballsbridge, Dublin 4
Tel: +353 (0)1 639 9300Regional Residential Market Overview
Regional Price Transaction
Performance Activity
The regional centres outside Dublin experienced strong price growth during the 2014 saw the volume of transactions nationwide increase year on year by 38%.
opening three month period of 2015, most notably in Cork with price growth of Activity during the year was boosted by a notable uplift in transaction numbers
3.0% in the three months to end March. during the final quarter of 2014 with 14,700 properties transacted, representing
over a third of the overall activity.
An analysis of the results of the Sherry FitzGerald barometer by NUTS 3 regions
further highlights the different performance of the individual residential markets Furthermore, there were significant regional differences recorded during the year.
across the country. Contrary to the same period in 2014, Dublin is no longer the Dublin saw an uplift in the volume of sales by 28%, while transactions activity
driver of national price inflation. Rather the strength of the national performance increased by 65% in Limerick, 45% in Galway and 39% in Cork.
was underpinned by strong price growth in the Mid-West and South-West regions,
Source: PPR/Sherry FitzGerald Research
which both grew in value by 3.2%, while the Mid-East region saw price growth of
3.1%. The price performance was more moderate in the Midlands at 2.8%, South-
East at 2.4% and West at 2.2%.
Supply Side Analysis
Regional Price The latest bi-annual analysis of stock available for sale in the open market revealed
that the regional centres outside of Dublin saw the available stock decreasing
Performance during the twelve month period, down 27% in Galway, 24% in Limerick and 22%
in Cork.
Q1 2015* ER
BORD
1.0%
DUBLIN
ANDS 0.9% PRICE PERFORMANCE
%
AST
MID-E > 3%
WEST
3.1%
2.0-3.0% 2.2% DUBLIN
NDS 0.9%
1.0-2.0% MIDLA PRICE PERFORMANCE
2.8%
AST
EAST 0-1.0% MID-E > 3%
3.1%
% 2.0-3.0%
1.0-2.0%
EST
MID-W 0-1.0%
3.2% -EAST
SOUTH %
2.4
-WEST
SOUTH %
3.2
*CSO NUTS 3 statistical regions Source: Sherry FitzGerald ResearchConsumer Sentiment in the Purchaser
Irish Property Market Profile
In order to gain a greater understanding of consumer sentiment towards the In Dublin, 39% of the respondents revealed their first preference to be a three-
property market and to assess future market trends, Sherry FitzGerald Research bed property, while the same cohort for Cork stood at 37%, Galway 27% and
conduct a bi-annual sentiment survey. This is achieved through a survey of Limerick 25%. Four-bed houses are notably sought after in Limerick where 54%
all registered home buyers in the four regional centres. The latest survey was of respondents indicated preference over this type of accommodation. Interest in
conducted in February 2015. apartments remained strongest in Galway at 26%, while on average, this figure
stood at 16%.
An analysis of the responses revealed that first time buyers represented 40% of all
respondents whereas 43% of respondents indicated they were trading up or down.
A regional breakdown of these figures reveals that first time buyers accounted for
100%
the largest cohort in the regional centres outside Dublin; 47% in Cork, followed by
42% in Limerick and 40% in Galway. Respectively, 27%, 28% and 38% were trading
up or down. The largest share of investors were recorded in Galway, at 16%. 80%
60%
40%
20%
0%
Dublin Cork Galway Limerick
FTB Trade up or down Investor Other
Source: Sherry FitzGerald ResearchDATA ROOM
An online data room has been established which incorporates all relevant
documentation pertaining to the sites including, inter alia, legal/title
information, OS Maps, previous planning permissions and market analysis.
http://dtzsherryfitzgerald-thecompasscollection.com
BER
Available in data room
TENURE
Title documentation available in the data room
RECEIVER
Kieran Wallace/ Padraic Monaghan
McInerney Homes Ltd (In Receivership)
SOLICITOR
Daphne Madden, Julian O’Brien & Boland, Solicitors
43 South Mall, Cork. +353 0(21) 427 7800
BASIS OF SALE
For Sale by Private Treaty
CONTACT LIMERICK & CLONMEL
General Enquiries: John Buckley
Donal Kellegher john.buckley@dtz.ie
+353 1 639 9248 Muireann Griffin
donal.kellegher@dtz.ie muireann.griffin@dtz.ie
DTZ Sherry FitzGerald, 6 Shannon Street, Limerick
Rory Breen Tel: +353 0(61) 418 111
+353 1 639 9644
rory.breen@dtz.ie CORK
Seamus Costello
DTZ Sherry FitzGerald seamus.costello@dtz.ie
164 Shelbourne Road DTZ SherryFitzGerald, 6 Lapp’s Quay, Co. Cork
Ballsbridge, Dublin 4 Tel: +353 0(21) 427 5454
Tel: +353 1 639 9300
GALWAY Conditions to be noted
Sean Coyne
1. These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property to be relied on as a statement or
representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make or give any representation or warranty in respect to this property. 3. All descriptions,
sean.coyne@dtz.ie dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchaser or
DTZ SherryFitzGerald, Dockgate, Dock Road, Galway
tenant should not rely on them as statements or representations of fact but must satisfy himself/herself by inspection or otherwise as to the correctness of each of them. 4. In the event of any
inconsistency between these particulars and the contract of sale, the latter shall prevail. 5. The terms, Vendor and Purchaser, where the context requires shall be deemed to refer to Lessor and
www.dtz.ie Tel: +353 0(91) 569 181 Lessee and Landlord and Tenant respectively. 6. Prices are quoted exclusive of VAT (unless otherwise stated) and the purchaser/lessee shall be liable for any VAT arising on the transaction.
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