Heads up for sweeping city scheme

Ruden Homes is building its way out of a recession, reports Tommy Barker with an increase in new house sales at Lehenaghmore

Heads up for sweeping city scheme

They’ve rolled out the black carpet — fresh tarmac — for just-finished homes up at Ruden Homes’s Lehenaghmore development — practically the city’s only current new homes project.

Sales are currently averaging 20 or so a year and the long-established company, headed by John Ruane and John Deane is just about to start work on a range of more detached new-builds, from three to five-beds.

Even now, the company has seven house types or variations available to buyers and, Deane stresses: “these are not overhang stock, these are newly built, to new regs, to a high spec, and buyers can be in a matter of a few weeks, about a month”— a variation on the famous ‘home for Christmas’ line. Ruden’s plan is to hold a small stock: “we don’t build to requirement, we build ahead of requirement,” adds John Deane, who also told the Irish Examiner he had not been the buyer of Nemo Rangers’ Douglas lands which sold this week via Savills for c €3m to an undisclosed buyer.

Current sales on the city’s southern hilly ridge above Wilton are, primarily, to first time buyers, and stock starts at €179,950 for a 1,000 sq ft three-bed with B1 energy rating, with other semis from €199,000, and detacheds are on offer from €250,000 right up to €395,000 for a five-bed. Four-bed semis can be bought for €245,000, and sales this year are averaging out to exceed the year’s target of 20 units, with a pick up since July, said the Ruden company director.

“For those of us still left in the business, we have a few tough year’s rebalancing ahead of us still. If we can get the volume back up that would be great, and a profit would be a bonus.” Work is finishing up on the Ardcahon Way section of the development, and a new section of the 250-unit Coolkelure scheme is starting, with attractions being price, location and a sweep of elevated views.

LOCATION: Lehenaghmore, Cork

PRICE: €175,00 - €395,000

SIZE: 1,000 to 2,200 sq ft

BEDROOMS: 3-5

BATHROOMS: 3

BER RATING: B1

VERDICT: Ready to go .

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