A parcel of land costing over €1million is being purchased by Mayo County Council in the hope of attracting investment to the county.
The council have entered an agreement to purchase 140 acres of land on the outskirts of Castlebar at Cloonagh, which is off the Ballinrobe Road and close to where the new N5 dual-carriageway is currently being developed.
In a memo to local Castlebar councillors, Interim Chief Executive Officer, Mr Peter Duggan informed them the council had entered into an option agreement to purchase the parcel of acres. They are adjacent to 14 acres already in the ownership of the council at Aghadrinagh and will bring the total holding, owned by the council in the area, to just over 154 acres.
Mr Duggan said the purchase price agreed is €1.10 million. The lands have significant potential for Commercial, Industrial, Residential and Amenity development into the future. He noted that a valuation, based on mixed-use, is in excess of the purchase price agreed.
“These lands are strategically located close to the intersection of the new Turlough to Westport N5 dual-carriageway and the existing N84. I believe that this property has enormous potential for the future growth of Castlebar and we will be working with the IDA to draw up a masterplan to attract and facilitate new investment into Mayo.”