Sales are clocking up at Glenveagh Properties' lofty Mount Woods Cork development, says Property Editor Tommy Barker
SALES have been continuing to notch up at Glenveagh Properties’ most substantial Cork site to date, at Mount Woods, by the brow of Maryborough Hill, above Douglas.
There have been over 20 house sales to date, and they are continuing at the rate of two or three a week, even during the Covid-19 lockdown period.
That is according to selling agents Sherry FitzGerald, who put the first launch phase quietly to market at the end of February, just weeks before construction sites, and the economy, ground to a halt.
The scheme has a range of house types, from 860sq ft two-beds to four-bed semi-ds of nearly 1,500sq ft, with smaller option sub-€300,000, such as two-bed townhouses at €275,000, and three-bed townhouses at €295,000, up to the four-bed semis, from €395,000.
Buyers, in the main, are those in secure jobs, in tech and pharma sectors and with pay unaffected by Covid-19 impacts and State payments, note Sherry FitzGerald’s New Homes agents Paul Hannon and Chris Courtney.
They say the initial batch of sales at Mount Woods were offered to registered inquiries and approved buyers who were on Sherry FitzGerald’s dedicated sales list, and the development was subsequently posted online for a wider and curious buyer net.
According to Mr Hannon, Sherry Fitz currently has over 60 sales of new homes in a variety of suburban Cork developments “under active management”, and his comments chime with those of other new home seller such as Savills, selling currently in Carrigaline’s Castle Heights at what is perceived to be a good price point for first-time buyers especially.
Glenveagh’s Mount Woods is, in effect, a continuation of the Maryborough Ridge development by O’Brien and O’Flynn, done to a high standard after they completed the very large Maryborough Woods project also on Maryborough Hill.
Between those two well-regarded O’Brien and O’Flynn developments, and now Mount Woods with Glenveagh, the two sizeable landbanks may total over 2,000 suburban Cork homes.
Glenveagh acquired the Mount Wood site via a Nama-appointed receiver in 2018 for €22m, with one 19-acre section having planning in place for 198 houses, and a further 23 acre section has scope for future development of 400-500 units.
An early section, now part-occupied and with three-storey homes, has had a Part V take-up, with properties there to be managed by approved housing body, Tuath.
The publicly-listed Glenveagh also has sites at Midleton, and in the city at Centre Park Rd, the ‘Live at the Marquee’ land which they say can take over 1,000 apartments, and have also been active at Eden/Blackrock Villas, in Blackrock.
At Mount Woods, the first phase of about 30 homes has been released, selling off plan without a showhouse. And, unusually, even without precise CGI images available of what are brick and render finished houses, built in timber frame with air-to-water heating. The elaborate digital brochure is strong on images, on Douglas’s amenities and location, about 6km from the city centre, but buyers who want an idea of the designs they are buying will have to deduce from floor plans and from images included of previous Glenveagh developments.
Mr Hannon says the buyer profile here is mainly first time buyers, availing of the Help to Buy rebate “and enquiries continue to come in on a daily basis”.
He adds: “The quality of the location and the house types have really captured the buyer’s imagination. Buying off plans without show homes is always difficult but people have been waiting for this scheme to come to the market for several months and the homes that have been released are due for completion before year end.”
There were 30 released in the first phase, in a 43-home section called Birch View and there is examples of each of the various types still available. Access to the development has recently been improved by council road upgrades around Garryduff and Mary- borough and the area is served by two bus routes, the 220 and the 216.
VERDICT: Strong location indeed.