A new record price for commercial development land in the south-east of Ireland could well be seen later this month.
Developers in search of potential retail warehouse sites are expected to bid more than €26m (£18m) for a 32-acre site in Waterford City.
Located at the junction of the Waterford’s new Outer Ring Road and Airport Road, the land is zoned mixed-use commercial and the vendor, Waterford City Council, has indicated it would facilitate a mixed development.
The development, subject to appropriate permission, could incorporate retail warehousing, offices, residential, leisure, motor showrooms, medical centre, restaurants, hotel and a business park.
It has dual frontage of 940m (3083 ft) and is two miles from the city centre and about one mile from the regional hospital and Ardkeen Shopping Centre.
Des Purcell, of agents Sherry Fitzgerald Purcell, says the city has been waiting for some time for a suitable site of this kind for a large retail warehouse development.
It will be auctioned on 29th November 2005.
References: EGi News 02/11/05
