Tommy Barker says interest will be keen in new Blackrock releases.
THE first sales of three dozen homes in the Eden development in Cork’s Blackrock, being sold by receivers Grant Thornton, start from this weekend, at prices from €240,000 for three-bed duplexes, up to €365,000 for large and lofty four-bed townhouses.
The development, in the heart of Blackrock village at the former Ursuline Convent, first launched in 2005, with 550 homes planned in a €200m-plus development, and was billed at the time as the single largest new homes scheme in a city suburb.
Over 100 sold prior to the 2007 slump and property crash. To-date 260 have been built and occupied in a quite high-density scheme, by O’Mahony Pike Architects for Pierce Construction.
Work is expected to start in the coming months on constructing 34 further, market-friendly semi-detacheds near the Blackrock Hall section, by an Aldi and medical centre.
Eden made headlines from the off in 2005 due to scale and location: it did so again in March 2016 when receivers Grant Thornton, acting on Pierce Developments’ Blackrock scheme, and controlling 127 units and sections of undeveloped land, gave 35 tenants eight weeks notice to quit.
Twenty Eden tenants had vacated by then, while a reprieve was granted to others after news media picked up on tenants’ plight in Tyrrellstown, Dublin and at Eden.
Receivers Grant Thornton deferred sale plans forApril at Eden, until now, and may be expected to release even more in a further tranche and may use income from sales to fund further construction.
After a revamp in the past two months, an unconfirmed number of Eden units, of several types, are now released this month. They come at a time of both widespread shortage of homes to buy and to let,via selling agents agents Lisney, who have advertised show units opening today 12.30 to 2pm, and on Tuesday 5.30-6.30 pm.
Price details are not online for two-bed ground floor apartments with small enclosed gardens, of 786/805 sq ft which were to have been priced between €195,000 to €215,000 back in April.
Three-bed duplexes with balconies of 1,117 to 1,327 sq ft, are priced from €240,000. Largest to be released are three-storey, four-bedroomed townhouses with balconies of 1,754 up to 1,811 sq ft, priced from €365,000 according to the Lisney website this week.
There are several of each type being released, but the agents declined to comment on Eden details.
Interest will be keen, given the dearth of new homes nationwide and locally, the price range and affordability for first time buyers, as well as to traders up, and even investors, plus the location between booming Mahon, with thousands of office jobs, and Blackrock Village and the Marina.
VERDICT: Blackrock and Mahon are hot spots.
Eden, Blackrock/Skehard Cork
Size: 1,327 sq ft-1,754 sq ft
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