Bumper auction for Kilkenny homes
Published 05/02/2010 | 05:00
As many as 22 properties are to go for a major auction in Kilkenny on March 6 next, at a time when the nationwide level of auction activity has dwindled to a trickle. Peter McCreery of Sherry Fitzgerald McCreery, who is auctioning the properties, explains that he has arranged the auction because it will provide a good forum and a transparent way to sell.
"There are lots of vendors sitting, waiting and watching and there are buyers who are cautious about buying in case they may pay too much."
Prices have been cut significantly according to McCreery, who says that they are now value for money. He has quoted guide prices ranging from €120,000 for a three-bedroom duplex home up to €1.2m for a four-acre site in The Marble City Industrial Park. The latter has been reduced from its previous asking price of €3m.
Of the properties for sale, 13 are houses, two are apartments, two are retail properties with residential accommodation and another shop has tax incentives.
Commercial properties include an office building and two sites with planning permission. He says that none of the vendors are under any pressure to sell. "They are keen to sell for various reasons, they may either want to move on or simply sell an asset in order to switch to alternative investment."
At this stage he is not disclosing the reserve prices as these may not be finalised until auction day.
"The guide prices are close to those at which they are likely to come on the market," he adds. When the auctioneer declares at the auction that the property is "on the market" this is the signal that he will not withdraw the property and will definitely sell at the auction to the highest bidder.
Already he has seen a number of buyers viewing the properties. "More than 20 viewers have visited 7 Breagagh Place, Kilkenny, a four-bedroom semi whose price has been reduced from €320,000 to €200,000."
A sharper fall in price was seen for 21 Glendine Court, Kilkenny, which has been reduced from €750,000 to €350,000. It's a four-bedroom detached house with large garden to the rear overlooking the fairways and greens at Kilkenny Golf Club.
An apartment at 18 Seville Lawns, Kilkenny with 858 sq ft of accommodation has seen its price reduced from €210,000 to €120,000. Also in Seville Lawns, a five-bedroom detached house, number 66, is asking €320,000.
A four-bedroom bungalow at 24 The Paddocks is guiding €235,000.
Also included are properties in Thomastown and Callan.
For instance, 38 Collaire Court is a three-bedroom semi-detached house in Callan guiding €155,000.
For more details contact Sherry FitzGerald McCreery 056 7721904