American buyer’s trump card aces it for Clare cottage at DNG auction

The sale of a tiny cottage in Co Clare to an American buyer, for 376% of its auction guide, was a top trump for agents DNG at their auction of 32 Irish assets last week.
American buyer’s trump card aces it for Clare cottage at DNG auction

An American buyer looking for peace and tranquillity in Co Clare paid €81,000 at auction for the much-publicised coastal hideaway at Kernaig, Ballyartney, Labasheeda, on the east coast of Clare overlooking the Shannon estuary: it had a guide of just €17,000, and this helped get much media traction, including here in these pages, on Irish radio and in the US.

And, in the event, the American buyer who shelled out on almost four times the guide was NOT US President Donald Trump: Trump already has his own gold-plated Irish and Clare coastal pad, at Doonbeg.

The tiny cottage in Co Clare was one of last week’s DNG Creedon auction of 32 lots, and which saw saw 29 sales now contracted, a 91% success rate, at over €3.05 m, with hopes of deals on the remaining three lots.

AMVs for the 32 lots was €2.147m. Two thirds of the lots made 20% over their pre-auction guides, and almost 300 people attended last Thursday’s sell off of Munster assets in Cork city’s Clarion Hotel.

“On the auction day we had a total of 290 parties registered in the room, with 201 of them in a position to purchase,” said agent Shane Finn of DNG Creedon, who said the winsome Kernaig cottage in Clare “was eventually purchased by an American looking for tranquillity and space, and who had been living in the county.” Another strong sale was the former Georgian coastal B&B Barrow House, Tralee, Co Kerry which made €80,000 above the €275,000 AMV, to sell for €355,000.

About a dozen of the 32 lots were based in Cork, with the balance across other Munster counties and “on our home soil in Cork, this auction has shown that the market is stronger than ever. City centre properties had a strong appetite across the board, which has now extended to the commuter towns. Throughout 2016 we’ve seen strong growth in both city centre locations and commuter belts,” said Mr Finn of their last 2016 public auction for associated DNG agents, with lots being canvassed for Q1 2017.

Among the three unsold lots at guides of €75,000/€85,000 were properties in Cashel, Co Tipperary, and Blennerville in Co Kerry, and sales are expected on these in coming weeks.

Details: DNG Creedon 021-4897300

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