The former Techrete site at Howth Harbour, bought at the peak of the property boom by the crisis-hit Glenkerrin Group, will not return to the market any time soon for fears of only making a fraction of the original cost.

The Irish Times reports that Glenkerrin Group's extensive property portfolio is now under day-to-day management by receivers at Grant Thornton, which is devising an asset management plan with NAMA and estate agents Hooke & MacDonald.

However the 6.5-acre former concrete factory, purchased in 2007 for a total of €62 million, will not be one of those sites put back on the market, as it is expected to only make €10 million today.

Architect Duignan Dooley is currently awaiting planning permission for a development of 250 apartments with a mixture of shopping, offices, leisure and a community centre for the site, adjacent to Howth village. 

But there is no indication of when construction might start on the scheme should it be given the go ahead.