Thursday 8 December 2016

Sales pick up in the last week

Donal Buckley

Published 13/05/2011 | 05:00

First-time buyers dominated sales at The Gasworks
First-time buyers dominated sales at The Gasworks

This last week has seen a pick up in sales activity with three south Leinster properties selling at auction and 28 apartments and houses selling at the Gasworks development in Dublin 4 in the space of just a few days.

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First-time buyers dominated The Gasworks purchasers with investors accounting for about one-third of the buyers. Agent David Browne of HT Meagher O'Reilly says that investors were attracted by the one-bedroom units as the area is good for letting with rents of around €1,100 per month. Four units remain for sale and these include large 115sqm three bedroom units for €325,000.

Meanwhile, in Co Kilkenny on Tuesday, Glebe House, Knocktopher, a castellated three-storey over basement period house on nine acres sold for well below its guide as it was in need of refurbishment. Property Partners Mansfield had quoted between €200,000 and €250,000 for the property and it sold for only €150,000.

Also on Tuesday a Wexford residential farm sold for €340,000 over its guide price. Kinsella Estates had guided €440,000 for the 55-acre property at Ballyellen, Inch, Gorey, and sold it for €780,000. Located between the coast and the M11 motorway, the 55-acre farm came with a three-bedroom farm house in need of modernisation.

In south west Wicklow a house with a small land holding sold for 14pc over its guide price on May 5. Joe Kinsella of Kinsella Auctioneers had guided between €280,000 to €300,000 for Model Farm, Killalesh, with its 26-acre residential holding at Kiltegan.

He sold lot one, consisting of an old three-bedroom farm house in need of refurbishment with eight acres, for €180,000. Lot two consisting of 18 acres, of which four were low lying, and which has good road frontage and site potential sold for €150,000.

Mr Kinsella said that with few land opportunities in the area the auction attracted a good attendance "like the good times of five years ago" .

Irish Independent

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