NEXT week’s Munster auction of 19 lots via agents DNG Creedon is expected to net well over €2m, and spans four Munster counties, includes four commercial properties, and has one lot billed as “The Cheapest House in Munster,” at €25,000.
Wednesday next sees the second of DNG Creedon’s four 2017 Munster Auctions in the Imperial Hotel on Cork’s South Mall, and gavel-wielding agent Shane Finn say they’ve had a 96% success rate so far in their 2016/2017 auctions.
Interest is piqued by the €25,000 price tag on 11 An Gleann, a three-bed/three-bath home with extension in Ballyhooly village, between Fermoy and Mallow: if rented at €900 a month, it could give a 43% return to an investor, suggest DNG.
Apart from residential and investments, the auction has four commercial lots, two in Tipperary (Main Street, Cahir and Main Street , Tipp town, guiding €50,000) as well as Fuchsia House with B&B potential in Castlegregory, Kerry at €95,000.
Most substantial lot is the former Phelans restaurant on an acre-plus site on the N20 just north of cork city.
The one-time restaurant and site was more recently occupied by SteelTech sheds, who’ve now expanded into co-op sale outlets. It has an auction guide of €395,000 and has planning permission for a bar/restaurant, retail unit and garden centre. It exudes potential, with a location close to Monard/Blarney Business Park, adds Mr Finn.
There are five other Cork city properties, plus Bandon and Kinsale homes in the mix, and the residential offers include some with income streams and/or scope for private occupancy, while there’s also a Limerick Athea home with a €30,000 price guide.
Details: DNG Creedon 021-4897300
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