Remains of ghost estate auctioned
Published 24/10/2012 | 11:14
THE REMAINS of a Blessington ghost estate are set for auction next month at a fraction of the price paid for the lands six years ago.
Agents Savills are offering Milltown Gate Housing Estate for sale at auction on November 21, with a guiding price of €350,000 plus VAT for the housing scheme. The site, consisting of 4.5 acres, used to belong to the local GAA club before being sold for €9.2 million in 2006.
The site includes planning permission for 54 houses, of which nine are sold and occupied. A further six houses are 80 per cent finished and are included in the sale, along with 39 partly serviced sites. Willowbridge Developments partially built the housing scheme before the collapse of the property market. KPMG was subsequently appointed receivers over the company.
The planning permission allows for detached, s em i - detached and terraced houses with a mixture of two, three and four bedrooms.
The sites are laid out in two cul-desacs directly opposite the row of completed houses.
It is believed the site will appeal to developers tempted by a low entry cost and a low development opportunity as six houses are almost ready to go and a further six sites already have foundations.