Wednesday, October 17 14:48:38
A partially finished so-called Ghost Estate in Blessington, Co Wicklow has been put on the market with a guide price of E350,000.
The 4.5-acre former grounds of the local GAA club were originally acquired in 2006 for E9.2 million.
The Milltown Gate Development was originally launched in 2007 by Willowbridge Developments with nine houses sold and occupied.
The crisis however caught up on the development and work on the site has been stalled for some time with the nine occupiers living on a ghost estate ever since.
The site has full planning permission for 54 homes and currently there are 15 houses constructed, 6 of which are included in the sale by Public Auction on Wednesday 21st November at 3.00pm in Buswells Hotel, Dublin 2.
The agent - Loman Dempsey of Savills - is quoting a guide price of E350,000 plus VAT.
The sale also includes 39 partly serviced sites arranged in two Cul-de-sacs directly opposite the row of houses which have been built. The estate road has been developed to base tarmacadam level in front of the houses and sites of plot No.'s 2 to 22. Roads are partially constructed to service the remaining undeveloped units on site No.1 and site No.'s 23 to 54 inclusive.
The planning includes an excellent mix of house types comprising of detached, semi-detached and terrace houses ranging from 2 to 4 bedrooms. The property is located approximately 1km from the town centre. Blessington is an attractive market town with a wide range of commercial and community facilities, including a great range of shops, restaurants and bars.
Milltown Gate is situated on the southern outskirts of the town just off the N81 (Blessington/Tullow Road).
"Due to the slowdown in construction in all areas we have noticed pockets of demand in a lot of locations for a small quantum of houses and Blessington is no different," said Loman Dempsey. "The fact that there are 6 houses almost ready to go and a further 6 foundations installed and that the layout of the estate allows for phased development means this site should appeal to developers seeking a low entry cost and a low risk development opportunity".