Property developer Gerry Gannon, who paid £12 million last week for 6.8 acres of housing land in Malahide, Co Dublin, secured almost £9 million less than a month ago for an apartment site at Howth Road, Clontarf, Dublin 5.

The apartment site has full planning permission for 86 two-bedroom apartments, putting a value of just over £100,000 per unit - probably the highest price yet achieved in north Dublin.

The purchaser, John Moore of Castlepark Construction, is due to begin site work within a month. The two-acre site is located near the Hollybrook Hotel. Cathal McGinley of Keane Mahony Smith will be handling sales.