Approx. 21.30 acres at Raforker, Donegal Town, Co. Donegal

The Property

•Greenfield development site extending to approx. 8.62 Ha (21.30 acre) with the lands historically in agricultural use.

•Access to the lands is via a designated County / Town Development planned inner link road named Winward Drive, with all services already available at the East boundary.

•Pertains a mixture of zonings under the Donegal Town LAP 2018 – 2024, which have been split out under the following plots;
Plot A - Approx. 8.40 acres zoned ‘Primarily Residential’
Plot B - Approx. 5.60 acres zoned ‘Local Environment’
Plot C - Approx. 7.29 acres zoned ‘Strategic Residential Reserve’

Location

•The subject property is situated approx. 1 km south east of Donegal Town Centre and is accessed via Winward Drive, off the Old Laghey Road.

•Donegal Town has a bustling local economy and vibrant town centre. The town has long been a tourist hub with strong seasonal Business, especially given its ideal location along Ireland’s Wild Atlantic Way.

•In recent years, there has been a large influx of new families coming to the area and availing of new remote working policies, in addition to a more relaxed living environment. There is an extensive industrial base near Donegal Town Centre, featuring companies like Abbott Ireland Diabetes Care and Cherrymore Kitchens & Bedrooms which offer numerous employment opportunities.

•The town is situated approx. 48 km south west of Letterkenny, approx. 60 km north east of Sligo and less than 200 km north west of Dublin.

The Opportunity

•The property offers buyers a prime opportunity to develop a residential land bank with potential for 194 houses (spp).

•A feasibility study of the entire site, completed in compliance with the Donegal Town Local Area Plan 2018 – 2024, shows potential for 161 no. semi-detached houses and 33 no. detached houses.

•Both Plot A and Plot B of the subject site will allow for an immediate planning application to be lodged for c. 117 houses.

•Plot C currently pertains a ‘Strategic Residential Reserve’ zoning and there’s a strong possibility of this Plot being rezoned to ‘Primarily Residential’ in the upcoming renewal of the local area plan. Upon rezoning, Plot C has the potential for a further 77 houses.

•There is capacity amongst all services in the existing infrastructure, with no further upgrades outside of the site boundary required for the development of the subject site.

•Exceptionally strong price growth within the town has been observed over recent months, largely due to pent up demand for new homes in the area.

•Development of the subject site will unlock the future potential of the adjoining zoned lands, with a public link road proposed in the current LAP to be developed.