€20m for 15-acre Waterford site

DevelopmentLand:After a series of high profile land sales in Waterford city in recent months, the city council is to offload another mixed-use site which is likely to appeal to a range of developers.

Purcell Properties is suggesting a price of around €20 million for the 15 acres in two adjoining lots at Kilbarry Road, close to the junction of Ballybeg link road and the outer ring road.

Des Purcell of the selling agent suggests that whoever buys the land is likely to develop a substantial foodstore with a range of smaller support retail units. The balance of the site is likely to be used for a mixed-use development. The sites of 12.4 acres and 2.75 acres have been zoned for general business use under the recently adopted Waterford city development plan. There is the opportunity to seek permission for a large convenience store that will not affect city centre trade, as well as ancillary units, while a range of uses can be considered for the remainder of the land, including medical centre, offices, leisure facilities, hotel, bar, restaurants, showrooms and retail warehousing.

A strong selling point for the site is that around 220 acres virtually opposite it - running from the Kilbarry Road to the Tramore Road - have been rezoned for residential use. Another substantial holding on the Ring Road has been zoned for technology-based industry with the expectation that it should lead to the creation of many new jobs in the area.

The sites are located in an area which has seen substantial development in recent years, particularly on the Waterford Retail Park and at the Six Cross Roads Business Park which has been completed.

The buoyancy in the market is continuing with another retail park at the Butlerstown roundabout on the main Cork road under construction. B & Q and and Harvey Norman are to anchor this scheme which will have 14,864sq m (160,000sq ft) of floor space.

And there's more on the way. The planners are currently considering a planning application for a mixed-use scheme, including retail warehousing, hotel and leisure, offices and a medical centre on the site formerly used by Waterford Crystal Sports and Social Club.

Part of the site beside the Waterford Crystal visitor centre has also been set aside for a substantial tourist-related facility.