Property development company Nimol Real Estate Group has completed the purchase of 162 acres of residential development land at Fassaroe in Bray, Co Wicklow.
The land, which has been purchased from CRH, forms part of the Fassaroe strategic landbank which is recognised as a vital residential and commercial growth area as part of the Dublin Metropolitan Area Strategic Plan.
Nimol, which is operated by businessman Niall Molloy, said it believes the site has the potential to deliver more than 2,000 new homes in the short to medium term, as well as a range of public amenities including parks, community and sports facilities.
Fassaroe is the largest project in Nimol’s portfolio. Construction is under way on the first 97 homes at Inchanappa Woods in Ashford, Co Wicklow – this development is being carried out in collaboration with Greenleaf Homes.
Also with Greenleaf Homes, Nimol is developing 52 homes at Mabestown Wood in Malahide, Co Dublin, where agents Hooke MacDonald are reporting strong sales.
Nimol and Greenleaf are also working together on a development site at Church Road in Delgany, where a planning application is to be lodged shortly.
Niall Molloy, founder and CEO of Nimol, said that Fassaroe is one of the most exciting residential opportunities in the country.
“It has been earmarked by the Government for delivery of much-needed housing in the Dublin Metropolitan area. We’re delighted to have completed this purchase and to have this exceptional opportunity to deliver homes at scale on a strategically important site such as this,” he added.
