€900,000 shovel-ready Glanmire site may suit approved housing body

The proposed development is 300m from the village centre of Riverstown, which was subject to severe flooding during Storm Babet in October last year. Planning notes show the land was part of a former distillery site and has frontage to the west of East Cliff Road and just south of Glyntown Bridge. To the east of the site, a series of apartments – 30 in all – are nearing completion and it’s understood that a deal has been agreed that will see a bulk sale. It’s unclear if the buyer is an approved housing body (AHB) or an investor, but it is believed to be a single entity. The developer is thought to be a company called Blueprint.

James O’Donovan of Savills said the Riverstown site featured here represents “a good opportunity for an AHB to work with a local developer” to build the apartments. AHB’s are performing well in housing delivery – last year they exceeded a target to deliver 5,000 new build homes in 2023. However whoever buys the Glanmire site would need work to commence no later than December 31 2024 and to have completed the development by the end of 2026, in order to avail of the government’s  extended development levy waiver. 

The original application for the project was lodged in 2020 by Tom Moynihan. The same name appears on a planning application to build a 13-storey 66-apartment tower in Glanmire, which was shot down by Cork County Council in 2019. It would have been just four metres shorter than the Elysian.

The planning consent in relation to the current site is for two apartment blocks, one seven storeys in height, and the other six storeys, both over basement level, with four commercial units, including a café and three retail units at ground floor level. The residential area would total 33,347 sq ft, while the commercial element would total 4,306 sq ft.

The apartments would consist of 12 one-bed units, 24 two-bed and six three-bed units. Parking would be at basement level. The proposed development includes a footbridge across the Bulterstown River and a public plaza, according to the planning notes.

Mr O’Donovan said the site represented a “superb investment opportunity”, in an established residential location, just 5km north east of Cork city centre and with quick access to the Dunkettle Interchange. The nearest bus stop to the city is within a six minute walk.

The agent said development activity is “prevalent” in the area (eg the 30 nearby new apartments) and that the site represents a “shovel ready development opportunity in an an area of strong demand”. The area is serviced by Irish Water mains which are located on East Cliff Road.

The site is located within walking distance of amenities such as Lidl, Aldi, Super Valu, Bean & Leaf, District 1 Kitchen, The Castle Glanmire and Glanmire playground.

As the city expands, Glanmire is becoming an increasingly popular residential location for commuters working in the city and other major employment hubs such as Eastgate Business Park.

More details: james.odonovan@savills.ie Tel: 021 4906120