Appeal No. DS93/0/015

AN BINSE LUACHÁLA
VALUATION TRIBUNAL
AN tACHT UM LAITHREAIN TREIGHTE, 1990
DERELICT SITES ACT, 1990

Barkhill Limited APPELLANTS
and
Dublin County Council

RE: Land at Coldcut Road, Quarryvale, Lucan, Co. Dublin
Market Value

B E F O R E
Henry Abbott S.C. Chairman
Veronica Gates Barrister
Paddy Farry Solicitor

JUDGMENT OF THE VALUATION TRIBUNAL
ISSUED ON THE 10th DAY OF MAY, 1993

By Notice of Appeal dated the 29th day of January, 1993 the appellants appealed against the determination of Dublin County Council in fixing a Market Value of £800,000 on the above described site under Section 22 (1) of the Derelict Sites Act, 1990.

The grounds of appeal as set out in the Notice of Appeal are that:-
"(1) The Market Value is too high.
(2) The appeal is being lodged without prejudice to our contention on behalf of Barkhill Limited that the notice of entry on the Derelict Site Register was carried out without notice to Barkhill Limited and the property has been completely overvalued by the Local Authority."

The Property
The property lies directly to the west of the Western Parkway Motorway, ½ mile south of its junction with Lucan Road and 2 miles north of its junction with the Naas Road and lies approximately 5½ miles off the City Centre. The property is excellently located for road links. The surrounding uses are mixed residential (both private and Local Authority) and industrial.

The site is level, undeveloped and unsurfaced and has an area of 135,000m2 (33.3 acres). Access to the site is from Coldcut Road which runs along the southern boundary of the site. The property is in an area zoned objective E in the Dublin County Development Plan 1983 (to provide for industrial and related uses) it is also partly zoned objective D (to provide for major town centre activities) in the 1991 Dublin County Draft Development Plan, a majority of the site falling within the former designation. Usual mains services are available immediately to the site.

Written Submissions
A written submission was received on the 16th April, 1993 from Mr. Paul Mc Grath BSc A.R.I.C.S., Chartered Surveyor on behalf of Dublin County Council. In his written submission Mr. Mc Grath described the property and its location.

He said that the site had been valued by him in accordance with Section 22 (1) of the Derelict Sites Act, 1990. He gave details of three comparable sites as follows:-

(1) Lands at Coldcut Road. Site Area 69.49 acres.
Sold by Dublin Corporation to Mr. T.P. Gilmartin for £5,100,000 in 1989. This represented a value of £66,000 per acre. It involved part of the subject site and therefore gave the best indication of values. The site comprised largely back lands, while the subject has a greater frontage to Coldcut Road and would therefore be
more valuable.

(2) Lands at Nangor Road. Site Area 4.25 acres.
Sold by auction 2nd December, 1993 for £400,000. Rate per acre £94,000. The location is somewhat better than the subject.

(3) Lands at junction of Long Mile Road and Naas Road.
Site area 10.2 acres. Zoning (industrial). Site sold in 1990 for £2,000,000 and is once more on the market at an asking price of £150,000 per acre. Rate per acre in 1990 was £196,000. Property is in a slightly better location and is smaller than the subject site.

Mr. Mc Grath stated that he had allowed for a general decline in the market value for industrial land by assessing the subject at £25,000 per acre yielding a total market value of £800,000 calculated as follows:-
30.3 acres X £25,000 = £832,000
Say £800,000

Oral Hearing
An oral hearing took place on the 30th day of April, 1993. The Respondent was represented by Mr. Donald Ash, Solicitor, together with Mr. Paul Mc Grath, Valuer and Mr. Denis Carter of Dublin County Council. There was no appearance on behalf of the Appellant. Prior notification of the date of the hearing of the appeal had been forwarded to Mr. Maguire of Maguire & Company, Solicitor for the appellants, Barkhill Limited, by the Registrar by letter dated the 10th day of March, 1993.

The precis of evidence submitted by Mr. Mc Grath was opened and considered by the Tribunal. Mr. Mc Grath said that in his opinion the Market Value of the site, calculated with reference to Section 22 (1) of the Derelict Sites Act, 1990, is £800,000. He said that a value of £25,000 per acre was an overly conservative estimate having regard to the Act and to open Market Values.

Determination
Having regard to the evidence adduced by Mr. Mc Grath, both in his written submissions (a copy of which is annexed hereto) and at the oral hearing, the Tribunal determines that the correct value for the subject site is £800,000. No application in relation to costs was made on behalf of the Respondent.