Auctioneer Brian Olden, of Cohalan Downing, prices the house at €295,000. It is in need of work, but has an easy target market – Olden’s 30-plus viewers on a nearby recent sale.
Earlier this year, Elmdene, on Woodlawn, also off the Model Farm Road, went up for sale for €325,000. He had between 30 and 40 viewings, and it sold to a family, for over that €325k AMV. Also swiftly sold by the same agent, on the western side of the city, was a three-bed semi-d in Greendale, off the Glasheen Road, for a sub-€300k sum, while a modern, 1,400 sq ft, four-bed bungalow nearby went over its €395k guide.
“There really isn’t a whole lot on offer, or choice, on the western side of Cork, so anything well-priced there is selling quickly. There’s demand, as well, for five-bed detacheds,” says Olden.
“This new offering, Loretto, will appeal to the same sort of buyer as the sale at Woodlawn. Both need work – in fact, while Loretto appears structurally sound and has been well-maintained, it needs pretty much everything upgraded inside, you’re basically buying a shell,” he says.
In its favour is its location, on the left hand side from the Rendezvous bar on Model Farm Road, within an easy walk of third-level colleges CIT and UCC, CUH and Bon Secours hospitals, and Wilton shops.