Newenham, going, gone

AUCTIONS seem to be the way to go, according to Gerard O’Dea of Cohalan Downing & Associates, who sold number 4 Newenham Terrace on Cork’s Infirmary Road at auction last week.

While the auction room was packed, there were only two active bidders throughout the whole process.

Previous to the sale, the selling agents estimated that the property would go for around the mid-600’s and so it did.

It was sold in trust through O’Meara Solicitors for €640,000.

While it is not known who bought the property, it is thought to have been purchased for use as a private residence.

Number 4 is a four-storey, city centre terraced house with plenty of parking to the front within easy walking distance of everything.

It is an elegant period property with a rear entrance and it’s own garden patch.

While private sales drag on, at the moment, auctions are the way to go, according to Mr O’Dea.

“An auction draws serious buyers. It concentrates people’s minds because they have to sign the contracts on the spot and usually the sale closes within a few weeks,” he said.