Lands at Main Street, Dunboyne, Co. Meath

Client: St. Finian’s Diocesan Trust

The Brief: The Parish of Dunboyne identified lands adjoining St. Peter and Paul’s Church as being surplus to their requirements and as a potential means of raising funds for the Parish, particularly in the face of the financial challenges posed by Covid-19. Bannon, as joint agent, were approached to provide advice on the optimum method of disposal and how to maximise the potential of the lands, given our previous experience and expertise with the disposal of lands owned by religious institutions. The surplus land, extending to 3.54 acres, included a surface car park which was used by parishioners and church goers and needed to be replaced/relocated.

Our Solution: An alternative car park location was identified in conjunction with the design team on the lands to be retained by the Trust.  Potential purchasers were provided with the specification of the proposed car park and were requested to incorporate the provision of the new car park on behalf of the Trust as part of their bid proposals.

The outcome: Following a competitive bidding process the property was transacted at a price substantially higher than the guide of €2.5m. Furthermore, the purchaser has contractually undertaken to complete the proposed new car park, subject to planning permission, on behalf of the vendor to the required specification. This means that the responsibility, and more importantly the substantial costs of project managing and overseeing a substantial works programme, has been removed from the Trust.

Testimonial: “St. Finian’s Diocesan Trust engaged Bannon as a joint selling agent in respect of the lands at main Street, Dunboyne, Co. Meath. We found Bannon to be thoroughly professional in their approach, and their market knowledge in this sector contributed greatly to achieving a successful sale.”

Fr. Patrick O’Connor.