Belfast Telegraph

Newtownards site for 498 homes on market for £13.7m

The plot of land for sale in Co Down
The plot of land for sale in Co Down

By Mark McConville

One of the largest residential building opportunities in Northern Ireland is up for sale as a 72-acre Co Down site hits the market for £13.7m.

Beverley Garden Village in Newtownards is being sold by Bangor-based residential lettings and property management company Dunlop Group.

Around 57.5 acres of the site has full planning permission for 498 home, made up of a mix of detached, semi-detached and apartments.

The £13.7m price tag means the site is being sold for £190,000 per acre or £27,500 per plot.

The site 1.3 miles north of Newtownards town centre is close to schools, Ards shopping centre, Ards community hospital, Castlebawn Retail Park and the golf, sailing, rugby and cricket clubs.

Discount grocer Lidl is planning to build a £5.5m store opposite the retail park.

Neal Morrison, director of selling agents Savills, said: "Ready-to-go residential development sites in Northern Ireland are a rare commodity - particularly of the scale on offer at Beverley Garden Village.

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"The site's proximity to Belfast - around 30 minutes by car - will undoubtedly serve as an attractive proposition to prospective homebuyers working in the capital.

"We expect demand from both developers and investors throughout the sales process to be strong."

The news comes after a 37.5 hectare site in the Waterside area of Londonderry was given the go-ahead by Derry City and Strabane Council. South Bank Square Ltd plan to build around 750 new homes in a £100m investment.

Meanwhile, the NI Quarterly House Price Index for the second quarter showed growth of 3.5% since the same quarter in 2018. The index is now 23.3% higher than in the first quarter of 2015.

The standardised home price here is around £137,000 following five consecutive years of house price growth.

Belfast Telegraph