Posted online: Jan 25th, 2007

E1.5M AN ACRE

A prime development site of just over four acres close to the centre of Letterkenny has been put up for sale with a guide price of over E6.5 million – or around E1.5 million an acre.

The site, which includes old offices and a yard, is being put up for sale by Donegal Co. Council as part of its programme of selling off assets that it no longer requires.

Once the home of the Donegal Bacon Company, the site has frontage on the Pearse Road, and also onto the Isle Lane. In recent years, it has been used by the council as a depot and for civil defence.

“This is the most significant piece of property to come to the market in Letterkenny, or Donegal, in many years,” commented Kevin Haughey, Managing Director of Gunne, Letterkenny, who are handling the sale on behalf of the council.

“It should generate a great deal of interest from developers both locally and nationally. It occupies a strategic location in the heart of Letterkenny Town Centre and should suit a variety of uses,” he added.

“The Pearse road has seen significant development and acts as a pivotal link between all the major retail developments joining Main Street with all three phases of Letterkenny Retail Park and is in close proximity to the recently revamped Letterkenny Shopping Centre,” he pointed out.

Under the Letterkenny & Environs Development Plan the site is zoned ‘Area of Town Centre Extension,’ the most valuable and attractive zoning objective available in the Development Plan.

Given Letterkenny’s “gateway” status, considerable interest is expected in the site which could attract a record price per acre in the centre of the town. Very few sites of such a size with development potential remain close to the town centre.