€1.5M price tag for 12 acres close to Cavan Town centre

Diocese of Kilmore selling land with ‘residential’ zoning in Drumalee area

A strategic landholding in the Drumalee area of Cavan Town, half of which is zoned for residential development, has come to the market.

The Diocese of Kilmore has entrusted Sherry FitzGerald Declan Woods and Bannon to offer the property for sale by private treaty. Totalling 11.8 acres (4.78 hectares), it’s being marketed with a guide price of €1.5M.

The landholding is being sold on behalf of St Patrick’s Trust, which holds the property in trust on behalf of the Diocese of Kilmore.

Drumalee is an established and popular residential location situated to the north-east of Cavan Town centre, less than 1.2 kms from Main Street. The nearby Loughtee Business Park is home to Tarpey’s SuperValu, Cavan Primary Care Centre, Haven Pharmacy and other local businesses. There are a number of educational facilities in the immediate vicinity including St Clare’s NS, St Patrick’s College, Breifne College, Gaelscoil Bhréifne and Cavan Institute of Further Education.

The front portion of the property has access off Drumalee Road, directly opposite the entrance to Drumalee GAA grounds. The N3 (Dublin to Cavan Road), which effectively acts as a by-pass for the town, adjoins the property to the east.

The site has two distinct land use designations within the Cavan Town Local Area Plan 2022-2028, approximately 6.0 acres zoned ‘Proposed Residential’ with the remainder zoned ‘Residential Strategic Reserve’.

The Local Area Plan indicates an anticipated average density of eight residential units per hectare on lands zoned ‘Proposed Residential’. This suggests that the front portion of the subject property could yield a scheme in the order of 40 housing units (subject to detailed design and planning permission).

For more details, contact Sherry FitzGerald Declan Woods on 049-4380038 or log on to www.bannon.ie