Development Land: The Cosgrave Property Group has bought a large site recently rezoned for housing in the Old Connaught area of Bray. Jack Fagan reports.

About 20 acres of land owned by St Gerard's School at Thornhill Road in Bray, Co Wicklow, has been sold to the Cosgrave Property Group for around €30 million. It is likely to accommodate several hundred housing units.

A number of other leading housing developers, including Jackson Homes and one of the Durkan companies, are understood to have been in competition for the land which was rezoned for housing in Dún Laoghaire Rathdown Co Council's latest development plan.

The sale will not have any significant impact on the school's sporting facilities, as the remaing grounds are still sufficiently large to cater for the 600 boys and girls who attend the privately funded secondary school.

The development site is regarded as one of the best available in the Old Connaught area where there has been a considerable number of new schemes in recent years.

The Cosgraves were always likely to be strong contenders for the site because of their heavy investment in the area in recent years. They already own up to 600 acres around Ballyman and Fassaroe, part of which has been earmarked for a new golf course to replace the old Dún Laoghaire course which the group plan to redevelop for a mixture of housing and town centre facilities.

Cosgraves also have plans to use part of the land for an industrial park which recently secured planning permission.