Development Land The sale of a 62-acre site in Bray is the largest property deal this year, reports Jack Fagan, Property Editor.
In the single biggest property transaction this year, a consortium led by Dublin developer Paddy Kelly has paid almost €90 million for 62 acres formerly occupied by Bray Golf Club and Industrial Yarns. It is widely regarded as the most spectacular town centre development site on the east coast.
The land was sold by Eddie Dwyer of housebuilders Dwyer Nolan Developments who spent five years assembling the site, arranging rezoning and providing an alternative 18-hole golf course for the club.
Apart from Mr Kelly, the other members of the Pizarro Developments consortium planning to develop the land are Durkan New Homes, Alanis Ltd (controlled by the McCormack family), Bray property developers Newlan McSharry and the construction company Pierse. It will be seen as a strong consortium capable of delivering a high quality scheme.
The strategic location of the land immediately beside the town of Bray will enable the new owners to embark on one of the most comprehensive mixed developments yet seen in an Irish town. It will include more than 1,500 new homes, up to 46,450 sq m (500,000 sq ft) of shopping facilities and around the same volume of other commercial space including a leisure complex, a hotel, multiplex cinema and car-parking facilities. There will also be a range of social and leisure facilities and provision for a school and GAA sports grounds.
Nick Sutton, who along with Gerry Ryan of architects HKR will be designing the massive scheme, said that rather than developing a new town they would effectively be reinforcing the retail core of Bray.
The development programme is likely to take up to 10 years to complete. It will be designed to enhance the appeal of Bray by including a public square with attractive cafes, restaurants, bars and specialist shops.
The area along the Dargle river will be developed as a public park with generous landscaping and leisure facilities. It is also planned to build a bridge over the Dargle to provide more direct access to the DART station in Bray.
The development opportunities presented by the availability of the old nine-hole golf course immediately beside Bray has long been recognised by the local Urban District Council.
As far back as 1998, the zoning of the site was changed and the council brought in town planners Brady Shipman Martin to draw up a local area plan setting out the type of development that would be of most benefit to the town. That will now form the framework of the overall scheme.
James Synnott & Associates acted for O'Dwyer Nolan in selling the land. Joint agents for future developments on the site are Hamilton Osborne King and Palmer McCormack.
