A site for a "residential village" in a tax designated area of Drogheda, Co Louth, is to be offered for sale by private treaty through local agents O'Sullivan. The 0.83 acre old cattle market site at Magdalene Street and Green Lanes, near the centre of the town, is expected to make in excess of £2.2 million.

Although a planning application for the land has not yet been submitted, the vendor's architects, Lafferty Design and Development, have produced designs following discussions with the planning authorities.

The proposal would involve a mixture of own-door townhouses along with apartments within a landscaped courtyard to form a coherent residential mix. Ground floor retail with overhead offices along Magdalene Street is also planned with a restaurant occupying the corner unit, creating a visual landmark and architectural feature.

The development is likely to include about 55 townhouses with floor areas of 850 sq ft and 245 two-bedroom apartments with 800 sq ft. Underground car-parking will be provided for 120 cars, accessed from security gates on Green Lanes. Apart from landscaped courtyards, many of the residential units will also have roof gardens, taking advantage of the views over the town.

Lafferty Design said that preliminary discussion with the planners regarding the principles of the development left them confident of a favourable outcome.

Fintan Sullivan of the selling agents said that, apart from being near the town centre, the tax incentives would be a major boost for the development.