Developers Fergus Lynch and Kieran Gannon of the Scaron company have paid more than €30 million for a 6.75-acre site on the Swords Road in Dublin 9 with planning approval for 358 apartments. The site was launched on to the market at over €18 million.

A feasibility study by architects Fenton & Associates has found scope to increase the number of apartments to more than 400 without necessarily increasing the gross floor area. The development site will have vehicular access from the Swords Road, with 105 car parking spaces at surface level and another 413 in the basement.

John Swarbigg of Savills, who handled the sale, said the site was within a 10-minute drive of Dublin Airport and a short walk from Dublin City University and Santry’s Omni Shopping Centre.