Valuable site makes good at auction

A COMPACT inner suburban Cork city site with planning for just five townhouses made a very strong €800,000 at auction last week.

The circa quarter acre site, on Victoria Avenue near the end of the Old Blackrock Road, was sold by Goodwoods Architectural Salvage, which is currently selling off much of its historic stock as it prepares to leave the valuable site.

The site was making €620,000 in private treaty discussions when auctioneer Andrew Moore brought it to auction, and with four bidders it was chased up to €800,000, about €160,000 per house unit cost.

The ready-to-go site was bought in trust, believed to be for a West Cork based group of buyers.

Other larger residential developments are expected to follow on the Old Blackrock Road, on a site previously rented by Goodwoods, owned by the Cotter family, and on the old Rochelle school site, purchased by O'Callaghan Properties.

Details: Andrew Moore and Co 021 4279393