A DISUSED DEFENCE Forces barracks in Co Kildare has been sold for €8.2 million.
Magee Barracks, situated in the centre of Kildare Town, has been abandoned since 1998. It is currently in a state of disrepair.
The barracks has been sold at public auction to BBF Capital Partners, who are acting on behalf of “an Irish client with extensive property development experience”.
The auction, which was held in the Keadeen Hotel in Newbridge, saw BBF see off “competitive” bidding from several Irish developers and overseas funds.
The initial bid was €2.5 million but rose rapidly thereafter. The initial guide price was €2 million.
Kildare Town itself has a population of over 8,000 people. It is well within the Dublin commuter belt, a 25-minute drive to the city outskirts via the M7.
The area is generally seen as being the nerve centre for Ireland’s horse bloodstock industry.
The barracks was initially built in 1900 on the site of the former Lock Hospital in the town.
It was renamed Magee Barracks when a new installation was built by the Irish Free State on the site in 1938.
BBF will now lead the development plan for the 51.4 acre site.
Other prominent developments in the vicinity include the Kildare Village retail park, a primary care centre on nearby Hospital Street, and outlets for Tesco, Aldi, and Lidl.