Co Down housebuilder Lotus acquires five acre site close to Royal Portrush
CO Down property developer Lotus has acquired a five acre site in Portrush to develop houses.
Lambert Smith Hampton LSH said the Ballywillan Road site had been sold to the Banbridge-based company for well in excess of the guide price.
The value of the deal has not been disclosed, but it's understood the site had been listed with a guide price of around £1.75 million.
LSH said the site, located in a residential area within one mile walking distance of both Royal Portrush Golf Club and the East Strand beach, had attracted significant interest.
Lotus Homes is the residential arm of the Lotus Group, run by the Murdock family.
The latest accounts for the Co Down housebuilder show it recorded a pre-tax profit of £7.5 million in 2021 on a turnover of £42.5m.
The company's managing director, Paul O’Rourke, said: “We are delighted to have secured this site in the idyllic town of Portrush.
"We hope to be on site in early 2024 and expect phenomenal demand for these high-quality, stylish, family homes.”
Phillip Smyth of Lambert Smith Hampton, added: “Portrush remains one of Northern Ireland’s premier tourist resorts given its spectacular location on the North Coast and its panoramic views.
"This was one of very few larger development land sales in the area as most site sales tend to be much smaller and more suitable for apartment style developments.”