The Magee Barracks site in Kildare town is to be developed following its recent sale at auction for €8.2 million.
The auction, in the Keadeen Hotel, included competitive bidding from several major national developers and overseas funds.
The initial guide price for the site was €2 million and local auctioneer John Conway of Conway Auctioneers presided over the bidding process which moved rapidly from an initial bid of €2.5 million to its final selling price of €8.2 million.
Independent finance company BBF Capital Partners issued a statement confirming that they, acting on behalf of an Irish client with extensive property development experience, had purchased the property for €8.2 million.
The statement went on to add: “The company will now lead the process of creating a development plan for the 51.4 acre strategic site in conjunction with Kildare Co Council’s objectives to generate a welcome addition to the town’s built environment.”