Wednesday 29 March 2017

Former Garret home nets €1.3m at auction

Sold: 75 Eglinton Road, Donnybrook, Dublin 4 was sold for €1.3m
Sold: 75 Eglinton Road, Donnybrook, Dublin 4 was sold for €1.3m
12 D'Alton Place, Dr Mannix Road, Galway, sold for €378,000
A winner: Cullentra House, Longwood, Co Meath was bought by horse trainer Gordon Elliott for around €750k

The home from which former Taoiseach Garret FitzGerald launched his political career was the most valuable of the residential properties sold at auction in the last eight days.

The red-brick, double-fronted period house at 75 Eglinton Road, Donnybrook, Dublin 4, had a floor area of 370sqm, three reception rooms, five bedrooms, a two-bedroom apartment and derelict coach house.

Auctioneer Simon Ensor of Sherry FitzGerald achieved the €1.3m AMV when a lady home buyer out-bid a number of others including an investor who dropped out after bidding €800,000.

Dr FitzGerald and his wife Joan purchased the property for £4,250 (€5,340) in 1959 and sold it in 1974, when Dr FitzGerald was Foreign Affairs Minister, for £31,500 (€40,000). The vendor this week was the Health Service Executive.

In Co Meath, grand national-winning trainer Gordon Elliott was the successful bidder for Cullentra House, Longwood, a residential farm with a five-bedroom house, three reception rooms and 78 acres.

Auctioneer Tom Potterton, of TE Potterton Real Estate Alliance, had been guiding between €700,000 and €750,000. Bidding started at €600,000 and it was sold for €910,000.

Located five miles from the Capranny, Trim stables that he is currently leasing,, Cullentra appealed to the trainer because of its natural hill, which is similar to the lead-up to the winning post at Cheltenham racecourse in England.

An investor aged more than 70 years was the successful buyer of a property that went to auction in Leinster last Thursday. The property, known as Hazel Cottage, Collistown, Kilcloon, Co Meath, is a three-bedroom cottage on c.0.25 acre. Auctioneer, Eamon O'Flaherty of Property Partners Brady, had guided €120,000. When the bidding petered out at €106,000 he sold it to the septuagenarian after the auction for a higher figure.

At the same auction, a couple of first-time buyers won the battle for 278, Old Greenfield, Maynooth, Co Kildare, a three-bedroom semi-detached cottage in need of refurbishment. The guide price was €80,000 and it sold for €102,000.

Half of the eight Galway properties auctioned at the latest O'Donnellan Joyce auction were sold under the hammer and a fifth was sold afterwards.

A four-bedroom detached house at 122 Wellpark Grove, Galway, which was in need of total refurbishment, attracted 50 bids as prospective purchasers commenced bidding at its €80,000 AMV before it was sold for €132,000.

Another four-bedroom detached residence at 1 Illaunree Drive, Coolough Road, Galway saw bidding start at €160,000 and five bidders competed to drive the price up to €202,000 -- or €12,000 over its AMV.

A four-bedroom semi-detached house on a large corner site at 12, D'Alton Place, Dr Mannix Road, achieved the top price when it sold for €378,000 -- just short of its €398,000 AMV.

Another four-bedroom semi at 115, Upper Salthill, Galway, sold for €240,000. Its AMV had been €250,000.

Prior to the auction, a bid of €180,000 was submitted for 24 St Joseph's Ave, Henry Street, Galway, a four-bedroom mid-terrace house with a €200,000 AMV. No further bids came in the room and it was sold immediately afterwards for substantially higher price than the bid.

Three of the Galway properties failed to sell on the afternoon, with a €210,000 bid on a house in Menlo Village, a €334,000 bid on a house in Corcullen and €170,000 on the other house at 82 Churchfields, Lower Salthill. All three are in active negotiations.

Also on May 20, Sleighduff Johnstown, Arklow, Co Wicklow, failed to attract a bid. The four-bedroom farmhouse with a 40-acre, state-of-the-art equestrian centre, had a €2.1m guide price. Knight Frank is now seeking a private treaty buyer.

On the same day, a 17-acre residential holding at Poulpeasty, Clonroche, Co Wexford, was offered in three lots but sold in one lot for over its AMV. Quinn Property had guided €245,000 and it was sold for €255,000.

On Wednesday, a seven-acre plot of land, which had been owned by the REOX subsidiary Alchemy Properties, was sold at auction for its €50,000 reserve.

Savills was the agent for the property at Ballysimon Road near Limerick City.

Two farmers competed in the bidding and the price averages just over €7,000 per acre.

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