In the zone for €40,000/ac in Louth
KNIGHT Frank auctioneers are handling the sale of a very valuable piece of ground at Tullyallen, just outside Drogheda in Co Louth.
The 75ac is a mix of tillage and grass, including zoned and unzoned land.
It is guided at €1.5m with the zoned ground guided at €40,000/ac, while the agricultural ground is guided at €14,000/ac.
Located off Exit 10 on the M1, the lands are divided by the motorway and described by Finin O’Driscoll of Knight Frank as excellent quality ground.
The 17.5ac parcel located to the south-east of the motorway is zoned residential under the 2004 North Drogheda and Environs Area Plan.
The property has frontage on to the M1, the N51 and the R168.
A total of 47ac are designated tourism and leisure, which could include hotels, motorway service facilities, retail outlets, parking and the like. A parcel of 10.5ac is unzoned.
The property can be bought in four lots with the first made up of 15.1ac located south-west of the Tullyallen roundabout and currently in tillage.
The next lot is made up of 42.4ac situated to the west of the roundabout and mainly in tillage, with one field in grass, while the third lot comprises 17.7ac of grass located to the southeast of the roundabout.
‘Managed sale’
The last lot is made up of the entire and guided at €1.5m
Finin O’Driscoll describes the transaction as a ‘managed sale’ and it is expected that a combination of developers, farmers and investors will vie for the land.
It is certainly located in a part of the country that is doing very well economically.
It is also in a strong tillage area where the quality of the land is not in doubt.