Why I aim for €950K at auction
Published 20/05/2011 | 05:00
The Irish auction market is not all about receivers selling off flats.
House owners with well-located houses, generous gardens and great views also opt for the auction route, as they have in Ireland for years. Rex Coghlanand his brother Terence are two vendors who believe that their family home in Howth, Co Dublin, is best sold by auction.
"This house was built by our grandparents over 80 years ago and it has never been sold before or mortgaged, so it may take another 83 years before it goes for sale again," he says.
"So we believe that because this is such a rare opportunity it will attract bidders to compete at auction."
Known as The Anchorage, at Church St, the house sits on an elevated site overlooking Howth Harbour, with its piers, as well as views to Ireland's Eye.
"I believe it's got the best views of the harbour and with its good, big garden, this makes it unique and something that cannot be replicated. "We've always felt this is a special house and so we felt that an auction would be the best way to get the best price for it," Rex says.
He expects that a number of people will compete for it as there are very few houses of this type coming for auction. Their mother Jocelyn lived there until a few years ago and then it was let to tenants.
When Jocelyn died a few months ago, the brothers, who each have their own homes, decided to sell it. "If we don't get what we think is a fair price in the current market, we may withdraw it but we are hopeful that we can sell," Rex adds.
The house sits on a 0.38-acre site and agent Darren Chambers of Lisney believes that it also has development potential, and he is guiding €950,000 for the auction.
Its floor area extends to 155 sq m and it also has a detached garage. A charming entrance porch leads to a hallway, off which is the living room, kitchen area and three bedrooms. At first-floor level there are two additional bedrooms.
There is also a small basement area in the house. Although very well-maintained over the years, the property would benefit from some refurbishment and modernisation. The well-maintained level, lawned gardens are bordered by an abundance of shrubs, mature trees and plants. An attractive feature to the east of the property is St Mary's Abbey.
The house is located less than five minutes' walk from Howth village, which has a host of local amenities including numerous shops, restaurants, recreational and sporting amenities including Howth Yacht Club and Howth DART.
Lisney 01 8840700