10 units in Kinlough sold for €250,000

Ten residential units at Inis Temple, Kinlough sold for a total €250,000 at the Allsop distressed property auction in Dublin last week.

Ten residential units at Inis Temple, Kinlough sold for a total €250,000 at the Allsop distressed property auction in Dublin last week.

150 sites went under the hammer on March 1. One of the high profile sales of the day was a ghost estate in Co. Cavan for €210,000. The development in Cavan town contains 5 completed houses, 4 unfinished and planning for a further 52.

Here in Leitrim, 10 units in Kinlough and an apartment at Tullaghan also has success at the packed out auction.

The development in Kinlough sold by the receiver consisted or two free hold detached buildings including one and two bed apartments and three and four bed townhouses. Each unit benefits from ‘own door’ access and a telephone intercom system. There are communal gardens and car parking.

The development which already has five units subject to tenancies reached its reserve price of €250,000

In Tullaghan, Apartment No 5 from Castle Cottages went over it’s reserve price set by the receiver of €15,000 and sold for €26,000. The two bed apartment which fronts onto the Atlantic Ocean is held on a long lease for a term of 999 years from 1st June 1997 (thus having approximately 984 years unexpired) at a current ground rent of €1 per annum.

At the same auction a five bed detached house on a site extending to 0.6 acres at Corracreigh, Elphin, co Roscommon sold for €37, 500 and a three bed semi detached house in Watervale Estate, Rooskey, Co Roscommon sold for 51,000.

The next Allsop auction is on May 15, 2013.