Rathcoole auction will test ‘hope value’ for land in south-west Dublin

Auctioneers Coonan Property are quoting a guide price in excess of €1.15m for the tract which is located at Crockshane, to the south of the growing commuter town of Rathcoole.

The guide price is based on a figure of almost €50,000 per acre and as this is well above prices for farm land. It suggests strong ‘hope value’ on the prospect of rezoning the land for either residential or logistical use.

Nearby land at Blackchurch, Kill, sold earlier this month for €1,510,000. That sale comprised 8.55 acres equating to just over €175,000 per acre and included an old farmyard and a derelict cottage, offering potential for renovation or replacement. However, the potential for most of the eight acres was long-term based on its proximity to the Castlewarden Junction on the M7.

More than 80 people including several active bidders competed for the Blackchurch land at a public auction conducted by Jordan Auctioneers.

Philip Byrne of Coonan Property says that while the Crockshane land parcel does not have a zoning, its prospects would benefit from its proximity to Rathcoole which is an area of “growth potential with many residential and commercial developments nearby”.

There are numerous business parks in the wider area, the most notable being Greenogue Business Park, Aerodrome Business Park and the Citywest Business Campus. Dublin Airport is a 30-minute drive away.

Crockshane is on the eastern side of the N7 with its link to the M50 motorway and is situated close to the proposed Western Dublin Orbital Route which will link the N81, the Dublin to Tullow road, as well as Tallaght to the N7 and the N4 at the Leixlip interchange.

The vendor is a local family who were full-time farmers in previous generations.

The auction will take place in the Glenroyal Hotel in Maynooth, Co Kildare.