The land bank at Ballybeggan, Tralee, Co Kerry
A development land bank with rental income in Tralee, Co Kerry, has come to the market guiding more than €4.5m.
With prospects for up to 140 homes as well as a major student village, the land extends to 32.8 acres in the suburb of Ballybeggan adjacent to Munster Technological University in Kerry Technology Park.
Eamonn McQuinn of McQuinn Property Services is handling the sale.
Fully zoned under the Tralee development plan, it is available in one or multiple lots: Lot 1 zoned R1 residential extends to 13.38 acres; Lot 2 zoned C7 – Education, Innovation & R&D extends to 17.14 acres; Lot 3 zoned C2.1: Industrial, enterprise & employment includes a commercial yard with residential unit and extends to 1.72 acres; Lot 4 zoned Buffer/conservation/amenity/landscape protection extends to 1.2 acres.
A feasibility study by Kane Williams Architects indicates that the C7-zoned lands could support a student village for up to 900 students and this site is guiding €2.1m.
A similar study for the R1 residential land indicates potential for at least 140 houses of different types. It has a €1.7m guide price.
The commercial yard comprises seven units and a four-bedroom detached house. Six units are currently let, generating €66,800 in annual rents. The remaining vacant unit could generate €3,000 per year. Unit sizes range from 86 sqm to 970 sqm. This lot has a €750,000 guide price.
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