Dublin suburb site offered for sale at 220m euros

[LONDON] A site for a new suburb of Dublin was offered for sale with an asking price of more than 220 million euros (S$369.7 million). The completed project will be valued at about 2.5 billion euros, according to Savills plc, the broker managing the deal.

The buyer of the 162 ha site at Cherrywood can build 37,800 sq m of stores, more than 3,800 homes and about 220,000 sq m of office buildings, Savills plc said in a statement yesterday. The project, covering an area larger than London's Hyde Park, needs local government approval.

"Cherrywood is a suburban development unlike any other in Ireland," Mark Reynolds, a director at Savills, said in the statement. "No opportunity of this scale is ever likely to be presented again in Dublin."