MR Michael Cotter's Park Developments Company has paid close to £2 million for 18 acres of industrial development land near Dublin airport. The site does not have water and sewerage services and is reached from a lane near the Coachman's Inn. The new owner is likely to look at the possibility of using the site for a number or commercial developments including a hotel and possibly a retail park because of its proximity to the airport. It is zoned for industrial use. Aer Rianta, which has a policy of acquiring all land near the airport, was one of the underbidders for the site, which is owned by a three-man business syndicate headed by John Butler of Scafform. They bought the land in two lots over the past six years.

Last year, Park Developments paid around £2 million for 28 acres of industrial land on the North Road near Finglas. It is within a short distance of the junction of the Northern Cross motorway, which is to open later this year. Hamilton Osborne King has sold on four acres for £135,000 per acre to an industrial developer. HOK also handled the sale of the airport land.