Residential Land Attracts Strong Interest From Local Developers

11 November 2009

Property consultants, Osborne King, have sold land zoned for residential development outside Ballymoney, Co. Antrim for £1.35 million on behalf of the Northern Ireland Housing Executive.

The sale attracted keen interest from a number of cash purchasers according to Gareth McGimpsey from Osborne King who acted for the Housing Executive: "We were very encouraged by the level of interest in this particular site. The fact that it is surrounded by existing residential housing and benefits from close transport links to both Ballymoney town centre and other urban areas including Ballymena and Coleraine, made it an extremely attractive development proposition. The sale price itself represents excellent value for money, particularly since property still offers potentially the best returns when compared with other asset classes. So far this year, we’ve sold two sites on behalf of the Northern Ireland Housing Executive and have a number of additional Housing Executive sites on the market currently, which are also attracting high levels of interest".

A local building firm has acquired the site at Carnany on the Ballymena Road, which is located southeast of Ballymoney town centre and will be applying for planning consent in the near future.

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