Christian group raises hands to heaven after snapping up rock-bottom deal
A CHRISTIAN group has snapped up a commercial building at a property auction for €70,000 -- less than a quarter of what it was worth at the peak of the market.
The God Evangelical and Miracle Mission plans to convert the former showroom and workshop in the Clondalkin Industrial Estate, Dublin 22, into a church for its members, who include Irish, Canadian and Nigerian Christians.
"We have been looking for a new building for five or six months after our landlord had told us we would have to move, so we decided to buy this property because it was nearby," explained Mrs Ola Yinka Ojuko, wife of the pastor, Tai Ojuko.
"We thank God for finding us this right property in the right place at the right price," she added.
The group also paid €5,000 less than the auctioneer's original €75,000 guide price.
The 434 sqm building with parking for six cars was sold at the Real Estate Alliance (REA) auction in the Davenport Hotel, Dublin.
Of the 20 properties in the REA catalogue, 11 sold under the hammer, two were sold after auction and one sold prior to the auction grossing a total of €1.35m.
REA agent Barry McDonald said afterwards that a number of religious groups had been buying properties in the Clondalkin and Lucan areas recently.
The fiercest bidding at yesterday's auction was seen when a suite of third-floor offices overlooking Howth Harbour sold for €166,000, or more than four times over the €40,000 guide price.
The highest price on the day was achieved by a large Victorian house on five acres, Firmount House, Clane, Co Kildare, which sold for €250,000, or €45,000 below its €295,000 guide price.
That was a 63pc reduction on the €800,000 guide price sought for the same property at auction two years ago.