Bungalow in chic area is set to go under the hammer

THIS month, Cohalan Downing and Associates have two properties for auction — a regular occurrence in Dublin, but unusual in the firm’s Cork city market.

The first, a cottage in Cobh, was auctioned on November 5, while the second, a choice Rochestown property, will also be considered for its site value.

Wycliff, Belmont, is located off the Rochestown Road and is close to the new Mount Oval development, where top-of-the-range houses cost an average of €850,000.

Wycliff is a four-bedroomed bungalow on a large site, with a reserve price of €375,000 to €400,000. This could mean the house will be purchased for site value alone, considering prices in the area, or it may undergo an overhaul.

South-facing, Wycliff was built in the 1970s and is on a corner site of a quarter of a an acre in a sought-after area. “There has been considerable interest in the house already,” says the selling agent, Malcolm Tyrrell, while the cost of upgrading would be recouped at present values, given the size and location of the property.

Demand is the key and there is no cleaner way of assessing how many buyers are on the market, and how much they are prepared to pay, than by going to auction.

All will be revealed on Wednesday, November 12, at 3pm in the Imperial Hotel, South Mall, in Cork.