BREAKING: Kildare racecourse sells off land for houses in multi-million euro deal

Naas Racecourse has sold a large parcel of land to property developer, the Ballymore Group, which aims to build up to 300 homes on the site - according to reports. 

Ballymore paid almost €8 million for 13 acres at the Kildare track - or around €600,000 per acre - according to the Irish Times.

The land is already zoned for residential use. 

The major property firm is operated by tycoon Sean Mulryan, who lives in Ardenode Stud near Ballymore Eustace.

Ballymore is expected to submit a planning application to Kildare County Council in coming months for the development of up to 300 homes on the site.

A spokesperson for Ballymore declined to comment on the land sale. 

But sources familiar to the transaction confirmed that around €7.8m was paid for the 13 acres of land at Naas Racecourse. 

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Ballymore has already developed hundreds of homes in the Naas area such as at Longstone, Piper’s Hill and Bellingsfield.

The developer also built a housing scheme in Newbridge. 

The company also sponsors local events such as races at Punchestown and the Taste of Kildare food and drink festival. 

Naas Racecourse was also contacted for comment.