Another step has been taken towards the development of Waterford's North Quays.
Just weeks after funding was approved, and the developers and contractors announced, the council has approved the sale of a section of land there.
The 16.7 acres at Mount Misery are being sold to Hopcast Limited of Dublin for €5.1 million.
The decision was made at a special meeting of the council yesterday.
There is a buy back option at the sale price if the development does not take place within two years of planning permission being granted.
Council CEO Michael Walsh told a special meeting yesterday that the price was based on an independent valuation.
Meanwhile, the Council also agreed to transfer 1.7 acres of land to CIE.
The transfer is to facilitate developments associated with the transport hub as part of the development of the North Quays.
Michael Walsh said they were in effect exchanging the land at Mount Sion and Abbeylands on the North Quays.
"There is nothing in that, it is merely, 'you're taking this bit, I'm taking that bit,' and it's a straight forward swap," he said.
He told the meeting they were proposing a set of swaps between the city and county council and CIE.
This is in order for the Council to own the title for the infrastructure they are working on, while CIE would own the parts in use for a railway line.
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