Wanted: shrewd buyers in Shanagarry

THROUGH the myriad checks and balances of the property market rescue process, a slow trickle of developments are finding their way back onto the open market.

And in a shrewd, pitch-perfect move, the sale of a collection of three-bed houses at Rooskagh Valley, Shanagarry, are priced to sell.

About half of the scheme was sold initially and now, agents Cohalan Downing are disposing of the rest — a number of mid- and end-terrace three beds and a handful of detached three beds.

These houses stand out for revised sale prices which have dropped from €275,000 to €80,000 for a three-bed townhouse and from €300,000 to €115,000 for a three-bed detached. At the time they launched, in 2006, the Rooskagh Valley units were in the vanguard of contemporary design and the location in east Cork, was part of the charm of the scheme

Since then, the developers have collapsed and the properties are now for sale through the Irish Bank Resolution Corporation, the former Anglo Irish Bank. The location of the scheme is a minute from the village of Shanagarry.

Both property types are being sold with builder’s finish, which means buyers will have to source the flooring, tiling, kitchen and bathroom fittings and this may nudge the cost upwards to €95,000 or €100,000 on the cheaper, according to buyers expectations, but even at that, the houses represent good value, says sales agent Malcolm Tyrrell.

Priced to sell, the remaining Rooskagh Valley units go on show next Saturday and Sunday, noon to 3 pm.

The Rooskagh Valley scheme has 53 houses in a mix of three-bed town houses, three-bed detached and a few larger, detached properties of up to 2,900 square feet.

VERDICT: locals are pleased the estate is now being marketed strongly, even if residents purchased at the peak of the market. Good community spirit too.