A 32 ACRE mixed use commercial development site located at Outer Ring Road and Airport Road, Waterford sold for a remarkable €45m at a Sherry FitzGerald Purcell auction yesterday.
The site, offered for sale on the instructions of Waterford City Council, is regarded as the best commercial development site ever to come for sale in the South East. The pre-auction guideline of around €26m was thus dramatically exceeded in the auction room - the sale works out at €1.4m an acre.
Designated by Waterford City Council for mixed use development, the lands can accommodate a mixture of retail warehousing, leisure, offices, medical and convalescent use, light industrial and a wide range of additional general uses, including pubs and restaurants.

Commenting on the auction, auctioneer Des Purcell stated the sale of the land at such a strong figure represented a major vote of confidence for the city particularly as some 21 clients viewed the site, three different potential buyers bid at auction and in general terms the site generated huge interest.

The site was purchased in trust by Ed Douglas of Douglas Newman Good. It is believed that the intention is to apply for permission develop a portion of the site as a retail park and the remainder along the lines of the planning brief identified by Waterford City Council.

Posted: 11|30|05 at 10:50 am. Filed under: Property & Land.