Ray Grehan's Glenkerrin Homes company has paid in excess of £7 million for a house-building site at Kilbelin, on the Kilcullen Road just outside Newbridge, Co Kildare.

Mr Grehan, who bought the site prior to tender, owns the Glenroyal Hotel in Maynooth. There is planning permission for 210 three and four-bedroom semis and 77 four-bedroom detached units. The sale was handled by Paddy Jordan of Jordan Town and Country Estates.