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Wooden House Hotel sells for 93pc over guide

Commercial properties generated €1.4m at four separate auctions in the last 10 days. Three of them sold for well over their guide prices and one for below its guide.

The best price was the €530,000 achieved for the Wooden House Hotel in Kilmore Quay, Co Wexford at a Morrissey auction.

The sale price was 93pc over its €275,000 guide. In 2007 its asking price was €5.5m. Sitting on a 0.57 acre site, the property includes two bars, a restaurant, function facilities, nine en suite bedrooms and a separate detached building comprising 10 self-contained flats each with own-door access.

In Waterford yesterday Rice Guesthouse and Bar sold at a Sherry FitzGerald John Rohan auction for €290,000 or €40,000 over its guide. Located at Barrack St the guest house offers 21 ensuite bedrooms.

The same agent only weeks ago sold the only pub in Kilmore Quay -- the award-winning Kehoes pub at auction for €330,000 or 65pc over the €200,000 guided.

Last week in nearby Kilmore village, Sherry FitzGerald Haythornthwaite sold St Anne's nursing home after auction for over its €50,000 reserve. The fire damaged property on 1.1 acres, attracted only one bid at auction.

Meanwhile last week in West Dublin, Lisney sold a former restaurant on a 0.175 acre site in Lucan, for €350,000 -- a 12.5pc discount to its guide price.

Located next door to a McDonald's restaurant at Celbridge Road, it comprises a single-storey detached building extending to 194sqm and included a full fit out. It was purchased by an owner-occupier who plans to trade from it.

In Co Carlow a former coffin factory was bought for €176,000 by a Carlow engineering firm. Auctioneer Ed Donohoe had guided €75,000 for the three acre property at Factory Cross on the edge of Borris village.

It came with four industrial buildings. The largest of the buildings extends to 1,208sqm with 111sqm of its space developed into offices. Meanwhile a Dun Laoghaire house sold at auction last week for €310,000.

Auctioneer King & Associates had quoted a disclosed reserve of €185,000 for the three bedroom semi at 39a Johnstown Park, which has a garage and large side garden with potential.

Indo Property