The Office of Public Works is to sell off 3.29 acres of the remaining land that formed part of UCD veterinary farm at Rathmichael, Co Dublin.

No price has been quoted for the land, on sale with Lisney, which backs onto the M11 at Ballybride Road. However, reports suggest that the land could expect to make in the region of €4.5 million.

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But, because the land is state owned, whoever buys it at tender on 1st May will be exempt from paying the customary nine per cent stamp duty.

The site is located next to a low-density housing, residential zoned area. Existing homes in the Rathmichael area are extensive, built on plots of five acres and more. For this reason it is expected that - although the area has a lot of potential for developers - the land may be bought by a business consortium who plan to build large homes for themselves.

(VB/JM)