Small housing estate in County Cavan sells for bargain price of $161,000 at auction
100 lots sell at distressed property auction in Dublin’s Shelbourne Hotel
A small housing estate outside Ballyjamesduff, in County Cavan, sold for $161,000 (€122,500) at auction in Dublin.
These houses sold as part of the Allsop Space auction, held at the Shelbourne Hotel on Thursday.
The group reported that 100 properties sold at the auction, but the sale of this housing estate seems to have garnered most interest.
The three unfinished houses lie on four acres of land outside the town. The lot was bought by a Northern Irish builder, who wishes to remain anonymous. The Irish Independent reports that he intends to finish the houses.
The homes need kitchens and bathrooms. They were auctioned with a reserve price of no more than $52,593 (€40,000).
There are already 36 houses in the finished part of the housing estate, including three and four-bedroom houses. They were built in 2004 and at the time the four-bedroom houses sold for $295,896 (€225,000).
The most successful result was the lodge-style property near Trim, County Meath, named Sartara Grangebective, which was sold in two lots for $1.5 million (€1.2m).
In Dublin, a one-story home (Beaumont Cottage, Beaumont Gardens, Green Road, Blackrock) sold for $1,157,317 (€880,000).
Another notable sale was in an up market suburb of Wexford town. The cottage, in need of decoration, on 14 acres of land, sold for $736,457 (€560,000).
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