Styles are Boyne to appeal
Cois Glaisín, Johnstown, Co Meath Asking price: €220,000-€300,000 Agent: Sherry FitzGerald New Homes (01) 6671888 or Raymond Potterton Auctioneers (046) 9027666
Dublin city dwellers are now spending as much as 55pc of their take-home pay on rent, according to research published last month by Sherry Fitzgerald. Little wonder, then, that renters in the capital are seeking to escape ever-increasing rent hikes by purchasing a house in the surrounding counties.
In Dublin 15, a two-bed house costs an average of €1,292 a month to rent, according to Daft.ie. But over the border in Meath, mortgage payments on a two-bed house priced at €220,000 in the second phase of Cois Glaisín in Navan work out at €955 a month, based on a first-time buyer taking out a 25-year mortgage on a variable interest rate.
Indeed, the selling agent for the Navan scheme has fielded interest from prospective first-time buyers in Blanchardstown and Lucan who are keen to spend their money on mortgage payments rather on rent.
Cois Glaisín is situated on an elevated site 2km outside the dormitory Meath town, in the suburb of Johnstown. When it launched in 2015, it was the first to come to the market in Navan in five years. An earlier incarnation from Tailored Homes Navan had an inauspiciously-timed release in 2009, when just 20 houses were sold.
The new contractor completing the scheme is Bridgedale Homes, which is backed by Targeted Investment Opportunities, the investment fund managed by LA-based Oaktree Capital. A third tranche of homes at Cois Glaisín was released last weekend. Of the 18 two, three and four-bed houses in the release, 10 are still available. The three-bed homes are priced from €250,000, while the four-beds cost from €300,000.
The rivers that flow through the Royal County served as the inspiration for the names of the myriad house styles built at Cois Glaisín to cater to first-time buyers, expanding families or the downsizer. The smallest house type is the two-bed Boyne, which comes either as a mid-terrace or end-of-terrace property and has 818 sq ft of living space. Also in this phase is the Stoneyford and Blackwater styles, both of which are three-beds. The Stoneyford is a semi-detached design that measures 1,183 sq ft, while the 1,055-sq ft Blackwater sits on a corner site and is available as a semi-detached or end-of-terrace style. The four-bed in this tranche is called the Rye: this semi-detached house type has 1,420 sq ft of accommodation.
The facades of the properties are finished either in a full red-brick or in a mix of red brick and cream render. The front driveways are cobble-locked in Kilsaran paving. The interiors include a contemporary-style kitchen with soft-close doors from Gallagher Kitchens and shaker-style fitted wardrobes in the bedrooms.
All the homes at Cois Glaisín were designed to have a BER of A3, courtesy of energy-saving features such as an A-rated condensing gas boiler for the central heating system and PV panels to generate electricity.
Cois Glaisín is just two minutes from the M3 motorway, 33km from the M50 and 40km from Dublin. There are eight bus routes to Dublin city centre.
Viewings of the new two-bed showhouse at Cois Glaisín will continue tomorrow and Sunday, from 11am to 1pm.