A 400-ACRE SITE at Cherrywood in South Dublin went on sale today for €220 million.
The sale of the land parcel – the largest to ever go on the market in Ireland – will be managed by Savills, and is expected to have a potential Gross Development Value (GDV) of more than €2.5 billion.
Under the terms of the recently adopted Cherrywood Strategic Development Zone (SDZ), up to 3,836 residential units could be built on the site, according to a statement today from Savills.
The SDZ provides for “fast-track” planning and requires that the land must be used to build a town centre, along with residential, office and retail space.
Mark Reynolds, Director of Development & Consultancy at Savills, said in a statement today:
Cherrywood is a suburban development unlike any other in Ireland. It is larger than London’s Hyde Park and represents an unrivalled opportunity to develop a new destination in a much sought after suburb of South Dublin.
The Cherrywood SDZ also allows for as much as 484,474 square metres of non-residential development, including 37,800 square metres or retail space, and 220,000 square metres of office space.
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