A site in Cork that was bought for than €1m a decade ago is to be sold with an asking price of less than 25pc its original sale price.
The Munster Property Auction which is operated by IAM-SOLD Property Auctions have been instructed on the sale of the former 'Sisters of Mercy' site at Skibbereen, West Cork in conjunction with DNG Michael Galvin, based in Bandon whcih has planning permission for a mixed use development.
The property comprises of a former convent, chapel and secondary school of stone construction with a slated roof and sliding sash windows,
It is set on a large site of approximately 2.3 acres.
This landmark site is situated on the eastern end of Skibbereen town. The subject site was originally sold in 2004 for a reported €1.5m but bids in the region of €315,000 are now being sought.
The property is currently available for sale via the Munster Property Auction's 'Online Auction' platform at munsterpropertyauction.ie.
Patrick Convey of the Munster Property Auction commented, "this substantial property offers potential purchasers an excellent opportunity to secure a unique site with planning permission.
It is located adjacent to a retirement apartment complex, local county council offices, courthouse and the Catholic church in a prime location in the thriving west Cork town of Skibbereen.
"The current planning permission is for a mixed use development comprising: two screen cinema, retail unit, restaurant, offices, 50 apartments with multi level parking facilities.
"The site is well secured and some groundworks have already been carried out," he added.
The property is being sold through an online auction. According to iAM-SOLD, their online auctions usually run for a period of 45 days. The property is marketed and interested parties can arrange to visit the property during the auction period.
If at the end of the auction there are bids which are at reserve or above then a sale is agreed. Bidding can take place anytime up to the end of the 45 days.
Sunday Indo Business