Out with the old property, in with the new

DERELICTION is being done away with: local authorities are moving on abandoned properties and those with title issues, prepared to move mountains of legal paperwork to get rid of scars on city and village streets.

And a case in point is the renewed property occupying the footprint of nos 138 to 140 Lower Glanmire Road in Cork city, gratis of Council action under the Derelict Sites Act.

The area just beyond Cork’s main railway station heading east from the city centre is set for a massive renewal once Manor Park Homes get past lodging their long-awaited planning application for CIE’s Horgan’s Quay site, poised to take high rise and high density apartments overlooking the River Lee.

In beforehand, and ready for immediate occupation or investment letting, is Maser House, called after its developers’ company name, Maser Developments, who did the S 50 student accommodation on the old Arcadia ballroom site near here. They paid €511,000 for the 3,200 sq ft derelict site back in early 2004, and builders of the replacement seven apartments were BrideView.

Tom O’Keefe of Bride View Developments is handing sales of the seven completed units, and as they are tiled out, floored, carpeted and with bedroom built-ins in place, he expects most interest from investors.

The four one-bed units are priced at €320,000, and three two-beds are €380,000, the latter including car parking spaces. There’s private landscaped decking to the back.

“They are ideal for starters or investors in an up-and-coming area, and buyers can be sure of great capital appreciation and rental demand when the north docks are taking shape.