Major drop in asking price as Saggart housing scheme is 'priced to sell'
Looks like a new year and a new start out at Citywest. When Saggart Lodge Court housing scheme came on the market in 2008, its owners HSS – the company behind Jim Mansfield’s substantial Citywest complex – were asking a heady €1 million apiece for the four-bed townhouses in this scheme of 48 apartments and 18 townhouses. The timing couldn’t have been worse.
In 2010 HSS and other Mansfield companies went into receivership. Now the homes are for sale by DC Global Horizon Properties, which also took over Finnstown House – another Mansfield property.
This time around the properties have been “priced to sell” – with the four bed three storey townhouses asking €360,000 for a mid terrace, going up to €410,000. Located overlooking the 18 hole Championship Golf Course at Citywest the townhouses are a sizeable 2,500 sq ft and have been finished to a high spec. The apartments start at €150,000 for a 900 sq ft two-bed. Selling agent City Properties are showing the units between 2pm and 4pm on Saturday and Sunday.
Certainly with new home builds well below normal levels, similar temporarily shelved schemes may get a new lease of life in 2013 – but they will need to offer real value to the buyers.