An unidentified, out-of-Cork purchaser has emerged as the €2million-plus buyer of a six-acre residential building site with planning for 18 luxury homes, on the city end of Cork’s Blackrock Road.

Residential investments with 9% to 11% yields are on offer in two Cork locations via separate receivers and for separate distressed vendors.

TWO years on, and not only has the penny dropped about local property pricing and comparative values, but the market overall has dropped too.