Friday 20 April 2018

Auction properties generate over €4m.

Donal Buckley

Deals totalling around €4m were seen this week for houses, farms and development prospects which went for auction in Dublin, Kildare and Meath.

The highest price achieved was for Montana House, The Ward, Co Dublin, which sold for €1,115,0000 or €315,000 over its €800,000 AMV. One of its previous owners was motor importer Pino Harris who, along with his brother William, ranked 59th in the Sunday Independent Rich List this year with wealth of €167m.

Standing on 60 acres of good quality land, Montana's floor area extends to 280sqm (3,000sq ft) and it came with four reception rooms and four double bedrooms.

It also has a viewing balcony and views over Dublin City and out to the Irish Sea. Savills were the auctioneers.

In Dublin 6, a 355sqm Victorian house, 64 Brighton Square sold for €1,010,000 which was €90,000 below the €1.1m AMV.

Auctioneers Lisney had pointed out that the six bedroom detached house came with an extensive south facing garden and that it needs total refurbishment. It is believed to have been bought by a family trading up.

In Sandycove, Co Dublin, a three bedroom semi-detached house, at 6 Marine Avenue, within a short walk from the sea front, sold for €670,000 or €70,000 over Lisney's AMV. As well as a floor area of 116sqm it also has a garage and side passage to the rear garden. It is believed to have been bought by an Irish couple returning from abroad.

Near Kells, Co Meath, a four-bedroom Georgian house, Knockrath Stud, Ballinlough, on 40 acres sold after auction. The agents Raymond Potterton had been guiding €600,000 for the property.

The classic two-storey over semi-basement house has remained unchanged for almost two centuries and was maintained with many original features.

In Dublin 9 a three-storey house at 12 Ballymun Road, Glasnevin, sold for €355,000 or €105,000 over Lisney's AMV.

The price is a substantial discount to the €2.1m which is believed to have been paid for it by a development partnership in 2005.

At that time it was seen as an attractive development opportunity as it stands on a 0.25 acre site in the sought after area of Glasnevin, near the Met office.

However subsequent to the 2005 sale the local authority designated it as a listed property which protected the house from demolition and it wasn't redeveloped.

Meanwhile this week an 11 acre parcel of land sold at the village of Kilmessan, Co Meath sold at a Savill auction for €215,000 or €19,545 per acre. That is comfortably above the guide price of €155,000 to €175,000 or between €14,000 and €16,000 per acre quoted by Loman Dempsey of Savills.

The parcel adjoins the Bective Avenue housing scheme on one side and the well known Station House Hotel on another side.

At Roestown, near Maynooth, Co Kildare a cottage with 57 acres was withdrawn from auction and the cottage on a generous site sold afterwards. Savills had been guiding €125,000 for the cottage which was in need of major refurbishment and it was withdrawn after the bidding peaked at €180,000.

The agents had been quoting €10,000 an acre for the land.

Irish Independent

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