DLRCC Plans To Lease New Housing Estate In The Heart Of Cabinteely Village

The Heron Wood estate in Cabinteely village has been put on the market at a proposed rent of €800,000 a year.

Heron Wood

Heron Wood is located on the corner of the Old Bray Rd and Brennanstown Road.

Construction of the Heron Wood development has yet to commence.

Dún Laoghaire-Rathdown Council is now negotiating to lease out all 34 apartments and houses in the estate for 25 years by the time they are all constructed next year.

This could cost the council €20 million in total rent, with all the homes due to be returned to the owner at the end of the lease.

However, the developer of the estate, Poolbeg Properties, is offering it for sale to investors for €18.2 million.

A prospectus seen by the Sunday Business Post stated that the homes are being valued at an average of €565,000 each with average rent of €2,500 per month.

Source The Sunday Business Post

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