Thursday 22 August 2019

Carlow property fetches €1.5m at REA auction

Tanner Hall, Athy Road, Carlow, sold for its €1.5m reserve
Tanner Hall, Athy Road, Carlow, sold for its €1.5m reserve
Donal Buckley

Donal Buckley

A development property with apartments in Tanner Hall, Athy Road, Carlow, sold for its €1.5m reserve immediately after the recent Real Estate Alliance's Dempsey Sothern Leinster auction in Naas, Co Kildare. As many as 21 lots sold on the day, with a further seven going sale agreed before this report went to press.

Set on a 4.5acre site, the Tanner Hall lot includes four ground-floor, unfinished two-bed apartments as well as four completed two-storey duplex apartments, roadways and three acres of development land which formerly had planning permission for 57 dwellings.

The last unit to previously sell in Tanner Hall was a two-bedroom ground-floor apartment which went for €110,000 last summer.

Harry Sothern, of REA, said that as the four ground-floor units in the auction are just shell and core, he valued them at about €50,000 each.

"The three-bedroom duplexes are worth at least €135,000 each."

Another Carlow development prospect, Emerald Lodge, Green Lane, sold for €690,000 or 48pc over its €465,000 guide price. A neighbour bought the one-acre site which is considered suitable for commercial and residential development as it is zoned town centre.

The highest price for a Dublin lot, €445,000, was achieved by a residential investment at 197 Swords Road, Whitehall, Dublin 9. REA's auctioneers had guided €385,000 for the semi-detached house which extends to 1,614sq ft and accommodates seven bedrooms. It is let to a tenant.

A two-bedroom top floor 54.5 square metre apartment at 21 Shangan Hall, Ballymun, Dublin 11, sold for €170,000.

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