THE PORT OF Waterford is seeking expressions of interest for the North Quays, either from a developer who will develop the site alone or as a joint venture with the port company.

The 12.3-acre (4.98 ha) site, with 900 metres of river frontage, is for sale in one, two or three lots.

Starnes McInerney own the middle section of some four acres. The site, around 100 yards deep, extends from Rice bridge to the Abbey Church in Ferrybank. It is offered with vacant possession.

The North Quays site was sold two-and-a-half years ago to a Cork consortium for over €30 million, but the sale was rescinded by mutual agreement. But in the current market, the site might not fetch much more than two-thirds of the price agreed before.

Waterford City Council is preparing a framework plan for the use of the North Quays, which is expected to be adopted in October/November. The site is zoned for "city centre commercial uses" in the city plan and this permits a wide range of uses.

A whole new road infrastructure is to be constructed to link the site with the N25 as soon as the second river crossing and the bypass of the city have been completed in 2009. The site also includes the main railway line to Rosslare, which is expected to be a feature of the development.

"This is a critical site in the future development of Waterford city. It has fantastic river frontage. The wharf area may be extended, making it a destination for cruise liners. These are opportunities that have not existed heretofore for Waterford," says Des O'Toole, partner in O'Shea O'Toole and partners, who are joint selling agents with Savills HOK.

He adds that some of the South Quays may be developed as part of the overall plan.