€4.5m 'ready-to-go' Cork site will fit 77 homes
A ready-to-build out site for a scheme of 77 homes, most of them semi-detached, is being put up for sale, with bids sought close to €4.5m, and with interest expected from local firms, as well as possibly new arrivals to the Cork market.
The c 19 acre site is at Sallybrook, Glanmire, near the Brook Inn, and was acquired as part of a portfolio purchase in 2015 by a Dublin-registered company Bluescape Ltd, whose directors Rita Dattain, David Palmer and Christopher Hough appear to be UK based.
The portfolio acquired by Bluescape had been associated with developer Dan Mulvihill of Rossdale Ltd, who built extensively in Cork in the early to mid 2000s.
The 2015-founded company Bluescape has been associated with planning moves in Lackenroe, Glanmire, and Woodville, Rochestown. Bluescape put the Woodville site with planning for 24 apartments on a 1.2 acre site up for sale earlier this month, guiding €1.2m via Cushman & Wakefield.
Selling agents for the Sallybrook, Glanmire site for 77 houses, designed by O’Mahony Pike architects, are James O’Donovan and Peter O’Meara of Savills Cork, who say “a ready-to-go site with a recent full planning permission is a rare commodity in today’s market.” They guide at €4.3m-€4.5m, with bids sought by September 11.
The price equates to €58,000 per house stand, or €235,000 per acre.
The original plan submitted in June 2016 had been for 89 new homes on the elevated 20-acre site at Knocknahorgan, Sallybrook, north of Glanmire.
During the local authority planning stage, the density was reduced to 77 units by applicants Bluescape Ltd, in response to a request for further information from Cork County Council.
The council gave its approval to the project last March but a number of third-party appeals were made, and the case was considered by An Bord Pleanála, whose planning inspector recommended permission be given.
In the same Sallybrook vicinity (a growing settlement on the edge of Glanmire,) permission has also been granted for additions to a housing estate already under construction.
DCN Developments Ltd lodged plans with Cork County Council in March of this year for 102 houses in a mix of two, three and four-bedroom units in an extension of the Glashaboy Woods development.
In a decision issued last month, the planning authority gave the go-ahead for the works which also include associated ancillary works, including vehicular and pedestrian access.
Savills say the Knocknahorgan site now for sale for Bluescape Ltd is elevated with “spectacular views,’ and to the north is the highly regarded Glenrichmond scheme of over 40 detached houses, with Sallybrook valley views, and this site on offer covers 19 detacheds, and the balance of the 77 are all semis, with eight reserved for Part V housing.
Sizes range from the smallest semi-ds of 1,090 sq ft to the largest detacheds of 2,090 sq ft, with some having second floor/attic rooms.
Savills describe the greenfield site as being in a very desirable location, close to Glanmire, schools and services, as well as employment hubs like Eastgate, and in “a proven sales location, within close proximity to Cork city centre.”
