Leap into property proposal at Ballinglanna

There's already a second sales ‘sweetener’ of house buyer financial incentives for purchasers at Cork’s Ballinglanna development

Leap into property proposal at Ballinglanna

  • Glanmire, Cork
  • €297,500/€332,500/€380,000/€490,000
  • Size: 99-194 sq m (1,066 sq ft-2,087 sq ft)
  • Bedrooms: 3/4
  • Bathrooms: 2-4
  • BER: A2/A3

There's already a second sales ‘sweetener’ of house buyer financial incentives for purchasers at Cork’s Ballinglanna development, worth a handy €20,000 for a limited tranche of qualifying buyers who can include First Time Buyers, divorced or legally separated individuals, or those in negative equity.

The €20k might well come in handy for those at the varying ends of the happiness spectrum, and who propose to purchase now, in the Cork 600-unit scheme’s third phase launch of c 50 new homes, which rolls around quite intriguingly on Saturday of next week.

It’s February 29 in 2020, this Leap Year’s extra added day in this shortest month, when Irish lore has it that’s the one very special day when a woman can ask a man to marry her. Come for the house, and be in residence in time for the wedding? Or, for a lower key second marriage? What nuptials might you stretch to with an extra €20,000 in your overall future plans budget?

Apart from the normal First Time Buyer (FTB) incentive/Revenue Help to Buy scheme which Budget 2020 assured would remain in place for two more years, the Ballinglanna development is the first in Cork to come to market under the so-called LIHAF Scheme, (Local Infrastructure Housing Activation Fund).

Under certain Rebuilding Ireland Initiatives, the LIHAF fund means a percentage of what the State invested in key infrastructure to enable development to proceed goes back to a percentage of buyers.

In the case of the c €200m 608-home Ballinglanna scheme, in return for a spend of €2.2m on roads it means an equivalent €2.2m sum gets divvied up to qualifying buyers: just 110 buyers here in all of an eventual c 600 will qualify for the LIHAF €20,000 incentive: this comes off the sale price of the properties. A number of the 60 buyers in completed sales to date have taken advantage of the LIHAF discount, so the clock is ticking down for others to take up on it before all 110 allowances are used up.

The large-scale Glanmire residential development has been rocking out of the stocks since work started on the site just east of Glanmire and 8kms from Cork city last year the first residents among the 60 sales to date are due to move in during March.

The overall development has a very broad range of house styles and types, spread across three ‘looks,’ some traditional with brick, others with banded render and a cleaner, ‘contemporary’ finish.

Coming now to the market are a new mix, including the ‘contemporary’ look house, 14 three-bed townhouses, 20 three-bed semi detacheds, 10 four-bed semi-detacheds, as well as a selection of four-bed detacheds.

Three-bed townhouses of 99/103 sq m are from €297,500, semi-ds of c 120 sq m are from €332,500, while four-bed semis of 134 sq m (1,438 sq ft) are from €380,000: detached four-beds of 177/194 sq m are priced from €490,000.

Developers O’Flynns are now well advanced across Cork, at the 160-house development Clonlara (as reported here last week), and are ramping up at Ballinglanna, which will include a creche, retail space and school site.

Sherry FitzGerald’s Rachael O’Leary, who just this month was appointed a Senior Sales Advisor, says that with O’Flynns now well finished in Mount Oval and on the last phase of Old Quarter at Ballincollig’s former barracks site, “there’s a good appetite across all house types and price levels, showing a very positive demand across all markets including first-time buyers and traders.”

Ms O’Leary says they’ve a large number of parties registered for homes in next week’s release: “interest in the next phase is very strong, to date, the larger three-bed semis, type Fs, have proven to be particularly popular, selling out in previous phases.”

VERDICT: The number of completions at Ballinglanna is capped at 400 of the 608 approved, until further improvements are made at the Dunkathel: only for that, there might not be another Feb 29 2024 round of sales to go. Time to make that match?

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