THE RECEIVERS must be pleased with their most recent foray into the property market. Grant Thorntonmanaged to sell 11 out of the 13 units at the plush Waterfront Development in Drumcondra, Dublin 9 over their launch weekend through estate agents Lansdowne Partnership. The scheme was developed by Walsh Maguire, which has gone into receivership.
All of the buyers were owner occupiers, according to Fergal Hopkinsof the Lansdowne Partnership. Not one investor came out of the woodwork to buy into the development at Drumcondra Bridge overlooking the Tolka and across the road from one of Bertie's favourite haunts, Fagan's pub.
Prices had been reduced by 55 per cent since their launch and ranged from €210,000 for one-beds up to €320,000 for three-beds.
The development had been completed in 2008, with Walsh Maguire reportedly having spared no expense in the fit-out – but by the time they were finished the boom was well and truly over and of the 19 units in the development, only six sold in the original launch.
Meanwhile, Dún Laoghaire Rathdown County Councilmanaged to offload about half of the affordable apartments it was selling on the former golf club lands off Kill Avenue last weekend Deposits were taken on over 30 of the 63 one and two-bedroom apartments for sale say Lisney, which is handling the sales at Honeypark, the first phase of the scheme being built by Cosgrave.
The majority of buyers were from the council’s affordable buyer list. They were able to pick up homes for between €136,000 to €170,000, while those not on the list, bought at the higher prices of €170,000-€230,000.
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