Land News

€85m paid for homes site at Stillorgan

Biz News, 25th November, 2004

A new record price for residential development land has been set with the sale of an 11.3 acre site at Stillorgan in south county Dublin for 85m euro.

The price comes to more than 7.5m euro per acre.

The site fronts at Galloping Green on to the Stillorgan dual carriageway and has planning permission for 478 apartments, a nursing home, offices and shops.

It has been sold to the Maynooth, Co Kildare based building firm Glenkerrin Homes.

It is being sold by a consortium led by Mr Derek Quinlan, the financier who led the UK£750 million buyout of the Savoy Group of hotels in London.

His company Quinlan Private paid IR£25 million (31.75m euro) for the land four years ago.

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