OLD Garda Station in Kells reaches sale price of €190,000

The Old Garda Station, Cannon Street, Kells, Co. Meath sold for €190,000, a fantastic €120,000 over the AMV of €70,000. The agent Tom Gavigan did a fantastic job dealing with 103 bids for this property. REA T&J Gavigan, the Auctioneers stated that “the property is a two storey 19^th century natural stone listed building that has been extended and refurbished
http://www.realestatealliance.ie/sys/property-details/?pid=100005667&oid=27&isrental=0&token=1a29b8211f7f6b9f4cc14215261c99f8

100% of Lots sold at Department of Defence property auctions.

Real Estate Alliance held three Auctions last week on the instruction of the Department of Defence and sold all properties on the days of the Auction. This amounts to 10 properties raising just under €1,000,000

http://www.realestatealliance.ie/national-property-auction/

The first auction took place in Killarney’s International Hotel on TUESDAY the 4^th of December at 3pm.  This auction featured two properties. The first ,the Old Garda Station in New St. Killarney auctioned by Donal Culloty of REA Coyne & Culloty of Killarney.  The property sold at Auction for €255,000, a considerable amount over the AMV of €175,000. This property is located in the centre of Killarney Town on a c.0.25 acre site has a large yard to the rear.

The second property auctioned by Eddie Barrett of REA North’s, Tralee, "An Halla Slua", Grey's Lane , off Green St., Dingle ,  A building  of c.198 m2 / 2133 sq.ft. ,in a very central location of this busy Tourism Town. REA North’s, the Auctioneers, were guiding €65,000 and the property sold at Auction for €85,000

The second auction took place in Limerick’s Strand Hotel today on the 5^th of December at 3pm.  This auction featured three properties. Old Weslyan Hall in Thurles sold for €110,000, nearly 3 times its AMV quoted at €38,000. This property was auctioned by REA Seamus Browne, Roscrea.  According to Seamus Browne, “a unique property with a historical background dating back to c.1848 ideally located in Thurles town centre. 

An industrial site at Ballyurra,Kilrush, Co. Clare sold for €27,000 , handled by REA Paddy Browne, Ennis.  An Industrial site of c 0.6 acres situated close to the Kilrush Industrial Estate on the Cooraclare / Limerick Road.

The third property for auction in Limerick was The Sluagh Hall, a Training hall for the Department of Defence in Midleton, Co. Cork.  According to Michael O’Donoghue of REA O’Donoghue Clarke, Cork City, “the property, a prominent and strategically positioned ,with a large corner site, The AMV was €100,000 and the property sold at Auction for €110,000.

The final auction took place in Carrick-on-Shannon’s Bush Hotel on Friday the 6th of December at 3pm.   There were five properties for Auction on the day.

The Manorhamilton property sold for €62,000 with an AMV of €50,000 & auctioned by Roger McCarrick of REA McCarrick, Sligo. The site extends to over 500m2 on a site of approximately 0.5 acre and was used as a Primary & Technical School in the past .

The Old Garda Station, Cannon Street, Kells, Co. Meath sold for €190,000, a fantastic €120,000 over the AMV of €70,000. The agent Tom Gavigan did a fantastic job dealing with 103 bids for this property. REA T&J Gavigan, the Auctioneers stated that “the property is a two storey 19^th century natural stone listed building that has been extended and refurbished”.

The former reserve defence force facilities in Roscommon town, handled by Seamus Carthy of REA Carthy was withdrawn and sold after Auction on the day for €105,000.  

 The former RDF purpose built training premises situated on c. 0.5 acre site in Milford, Co. Donegal was sold at auction for €30,000.

The former training centre at The Mullins, Donegal Town was withdrawn and sold after on the day for €37,000, on c. 0.25 acres , with extensive tarmac area with facility for parking.

According to Philip Farrell, CEO of Real Estate Alliance, “we were very pleased with the results of the Auctions this week and we look forward to working with the Department of Defence to dispose of more properties in the coming few months”.

Further information about the auction can be obtained by logging onto www.realestatealliance.ie or by calling 01 6699996

25 Acres at Farranmacbrien, Ardcroney, Nenagh sold today at public auction

The cottage on 25 Acres at Farranmacbrien, Ardcroney, Nenagh sold today at public auction.  The property was offered for sale with an AMV of €275,000 and bidding started at €150,000,  it continued slowly in bids of €10,000 to €200,000 and from there the pace improved as bidding intensified and progressed in bids of €5,000 to €255,000 with only two bidders in the running.  The property was then placed on the market at €260,000 and another bid of €265,000 was received before the auctioneer Eoin Dillon knocked it down to a third new bidder  at €267,500.  The property is understood to have been sold to two adjoining farmers who are splitting the lands between them.  The selling agents were Jimmy Casey and REA EOIN DILLON
http://www.realestatealliance.ie/sys/property-details/?pid=100005586&ptype=5&location=Tipperary&town=Nenagh&type=&beds=&pricemin=&pricemax=&property_type=5&token=91407dca0b094e2a9f022fb1

First REA Auction for the Department of Defence in Killarney a success

The first auction took place in Killarney’s International Hotel today on the 4^th of December at 3pm.  This auction featured two properties. The first is the Old Garda Station in Killarney which is being handled by REA Coyne & Culloty of Killarney.  The property sold for €255,000, a considerable amount over the AMV of €175,000. This property is located in the centre of Killarney Town on a c 0.25 acre site with a large yard to the rear.

According to Donal Culloty, “The property is ideally located in the centre of Killarney Town and, given the large site as well as the rear access, there are many different uses that can be considered on redevelopment   This property would make the perfect location for a suite of offices or alternatively a great location for a restaurant”.

The second property auctioned by Eddie Barrett of REA North’s, Tralee, is "An Halla Slua", Grey's Lane , off Green St., Dingle , Co. Kerry. This single storey building  of c.198 m2 / 2133 sq.ft. , is in a very central location of this busy Tourism Town. It is in need of considerable refurbishment & renovation. REA North’s, the Auctioneers, were guiding €65,000 and the property sold for €85,000.

http://www.realestatealliance.ie/national-property-auction/

REAL ESTATE ALLIANCE INSTRUCTED TO SELL DEPARMENT OF DEFENCE PROPERTIES AT AUCTION

REA announce a series of auctions to take place throughout Ireland in December.  The group have been instructed by the Department of Defence to sell 10 properties by Auction with an estimated value of €750,000.The auctions will take place in Killarney, Limerick & Carrick-on-Shannon featuring a mix of property types.  The announcement of these auctions is timely with Real Estate Alliance members having seen experiencing positive shift in the property market since the beginning of 2013.

The first auction will take place in Killarney’s International Hotel on Wednesday the 4^th of December at 3pm.  This auction will feature two properties. The first is the Old Garda Station in Killarney which is being handled by REA Coyne & Culloty of Killarney.  This property is located in the centre of Killarney town on a c 0.25 acre site with a large yard to the rear.

According to Donal Culloty, “the property is ideally located in the centre of Killarney town and given the large site as well as the rear access there are many different uses that can be considered on redevelopment   This property would make the perfect location for a suite of offices or alternatively a great location for a restaurant” AMV on this property is €175,000

The second Property to be Auctioned by Eddie Barrett of REA North’s, Tralee, is "An Halla Slua", Grey's Lane , off Green St., Dingle , Co. Kerry. This single storey building  of c.198 m2 / 2133 sq.ft. , is in a very central location of this busy Tourism Town. It is in need of considerable refurbishment & renovation. REA North’s, the Auctioneers, are guiding €65,000.

The second auction will take place in Limerick’s Strand Hotel on Thursday the 5^th of December at 3pm.  This auction will feature three properties.

An industrial site at Ballyurra,Kilrush, Co. Clare is for sale with REA Paddy Browne, Ennis.  The Industrial site of c 0.6 acres is situated close to the Kilrush Industrial Estate on the Cooraclare / Limerick Road. According to Liam Browne of REA Paddy Browne, Ennis, “The property represents exceptional value and it suitable for a variation of uses”.

The second property for auction in Limerick is Sluagh Hall, the Training hall for the Department of Defence in Midleton, Co. Cork.  According to Michael O’Donoghue of REA O’Donoghue Clarke, Cork City, “this property is a prominent and strategically positioned property with a large corner site, zoned town centre. The floor area extends to 576 Sq. M (6205 Sq Ft) with the site c. 0.2124 Hectares ( 0.52 Acres). This property would be suitable for a variety of uses subject to PP. The AMV is €100,000.

The third property for sale by Auction in Limerick is Old Weslyan Hall in Thurles. This property is being handled by REA Seamus Browne, Roscrea.  According to Seamus Browne, “this is a unique property with a historical background dating back to c.1848.   This property is ideally located in Thurles town centre.  The building stands on one corner of the site with a large car park to the side and has good road frontage.  It is ideally suited for a number of commercial activities subject to the necessary consent”. The AMV for this property is €38,000.

The final auction will take place in Carrick-on-Shannon’s Bush Hotel on Friday the 6th of December at 3pm.   There are five properties for Auction on this day including an old technical school, an Old Garda Station and a purpose built training premises.  The auction features the former reserve defence force facilities in Roscommon town.  According to selling agent Seamus Carthy of REA Carthy, “this high profile, quality building with a substantial site area (0.8 acres), offers an exceptionally rare opportunity to acquire a high profile commercial piece of real estate in the heart of the County Town.  The property consists of a Detached Single Storey Building comprising of office and meeting room accommodation together with Toilet and Shower Facilities”. The AMV for this property is €125,000.

The Old Garda Station, Cannon Street, Kells, Co. Meath is also for Auction on the 6^th of December in Carrick-on-Shannon. The property is a two storey 19^th century natural stone listed building that has been extended and refurbished. The accommodation includes a large reception area, private offices, meeting or conference rooms, canteen, shower, changing rooms and four prison cells. The gross internal floor area is c. 370 sq.m. and the site area is c. 640 Sq.m.  According to Tom Gavigan of REA T&J Gavigan, Kells, “It is suitable for a variety of uses including business, community and services companies (subject to planning approval)”. The AMV for this property is €70,000.

The Manorhamilton property extends to over 500m2 on a site of approximately 0.5 acre and was used as a Primary & Technical School in the past prior to being used as a Reserve Defence Force training centre in more recent years. Agent Roger McCarrick of REA McCarrick & Sons says "The property is located in Manorhamilton town centre and has potential for a wide variety of uses subject to standard planning requirements”. The AMV for this property is at €50,000.

A former RDF purpose built training premises situated on c. 0.5 acre site in Milford, Co. Donegal is also being at the Carrick-on-Shannon auction on the 6^th of December. The Property’s AMV is at €35,000 and according to Paul McElhinney of REA McElhinney, “This property requires modernization but offers development potential as the site is well located within the town boundary”.

A former training centre at The Mullins, Donegal Town is the final property up for the Auction on the 6^th of December.  The former Army Training Centre is on c. 0.25 acres with extensive tarmac area with facility for parking. According to Michael McElhinney of REA McElhinney Bundoran, the property would have potential as a distribution facility and is well located in the centre of Donegal town, beside the Donegal post office. The AMV for this property is €50,000 and it represents excellent value”.

According to Philip Farrell, CEO of Real Estate Alliance, “The auction was initiated by the Department of Defence following the announcement some months ago of their intention to dispose of various types of properties which had become surplus to their requirement.

Further information about the auction can be obtained by logging onto www.realestatealliance.ie or by calling 01 6699996. Contact the local agents to arrange viewings on the following numbers:

LIST OF PROPERTIES

Killarney’s International Hotel on Wednesday the 4^th of December at 3.30pm

KERRY, Killarney – Old Garda station.

Confirmed AMV €175,000

Contact - Donal Culloty – REA Coyne & Culloty Killarney 064 66 31274

KERRY, Dingle – One storey building.

Confirmed AMV €65,000

Contact – Eddie Barrett of REA North’s, Tralee – 066 7122699

Limerick’s Strand Hotel on Thursday the 5^th of December at 3pm

CLARE, Kilrush – Site at Industrial Estate.

Confirmed AMV - €25,000

Contact Liam Browne – REA Paddy Browne, Ennis. 065 6841755

CORK, Midleton – Sluagh Hall, training hall.

Confirmed AMV - €100,000

Contact Mick O’Donoghue – REA O’Donoghue & Clarke, Cork - 021 4251010

TIPPERARY, Thurles – Old Weslyan Hall.

Confirmed AMV €38,000

Contact – Seamus Browne of REA Seamus Browne, Roscrea – 0505 23158

Carrick-on-Shannon’s Bush Hotel on Friday the 6t^h of December at 3pm.  

LEITRIM, Manorhamilton – Old technical school.

Confirmed AMV €50,000

Contact – Roger McCarrick of REA McCarrick, Sligo – 071 9185050

The Old Garda Station, listed building, Cannon Street, Kells, Co. Meath

Confirmed AMV €70,000

Contact - Tom Gavigan, REA T&J Gavigan, Kells, Co. Meath. 046 9240045

ROSCOMMON town – Purpose built training premises.

Confirmed AMV €125,000

Contact – Seamus Carthy of REA Carthy, Roscommon – 094 9625990

DONEGAL, Milford – Purpose built training premises.

Confirmed AMV €35,000

Contact – Paul McElhinney of REA McElhinney Milford, 074 9153414

DONEGAL town – A former Training Centre

Confirmed AMV €50,000

Contact - Michael McElhinney of REA McElhinney Bundoran, 071 9841261

For information on the Auction,

log onto www.realestatealliance.ie or by calling  01 6699996

Seamus Carthy of REA Carthy appointed as Vice Chairman of REA

At the Real Estate Alliance AGM last week Seamus Carthy of REA Carthy in Roscommon was appointed as Vice Chairman of REA to support the Chairman Barry McDonald.  The board members for 2014 include:

Barry McDonald – REA McDonald, Lucan

Harry  Sothern – REA Sothern, Carlow

Michael Boyd -  REA Boyd's Kilkenny.

Seamus Carthy – REA Carthy, Roscommon

Michael O’Connor – REA O’Connor Murphy, Limerick City

Ed Dempsey – REA Ed Dempsey, Dun Laoghaire, Co. Dublin

Martin O’Donnell – REA O’Donnell, Carrickmines, Dublin 18

Robert McCormack – REA McCormack Corish, Wexford, Co. Wexford

Michael Gunne – REA Gunne Property, Dundalk, Co. Louth

Barry McDonald of REA McDonald appointed as Chairman of REA last week

Real Estate Alliance held their AGM in the Keadeen Hotel in Newbridge, Co. Kildare, on Friday, 1st November. With a successful 2013 almost behind them, members were looking to the next phase for both Real Estate Alliance and property in Ireland. Coupled with the alliances growth in membership in particular over the last year, plus successes in winning central business for the group, the last year has been an outstanding success for Real Estate Alliance. The first sign of change was the appointment of Real Estate Alliance’s new Chairman, Barry McDonald.  Mr. McDonald, a Chartered Surveyor and Auctioneer, of REA McDonald in Lucan will be Chairperson of Real Estate Alliance for the year ahead. He will be supported by a board of 10 agents from the various firms in REA. (Please see below for a full list of the new board members for Real Estate Alliance).

Newly Appointed Board of Real Estate Alliance

Barry McDonald – REA McDonald, Lucan

Harry  Sothern – REA Sothern, Carlow

Michael Boyd -  REA Boyd's Kilkenny.

Seamus Carthy – REA Carthy, Roscommon

Michael O’Connor – REA O’Connor Murphy, Limerick City

Ed Dempsey – REA Ed Dempsey, Dun Laoghaire, Co. Dublin

Martin O’Donnell – REA O’Donnell, Carrickmines, Dublin 18

Robert McCormack – REA McCormack Corish, Wexford, Co. Wexford

Michael Gunne – REA Gunne Property, Dundalk, Co. Louth

National Property Group’s AGM Focus on the positivity ahead

Real Estate Alliance held their AGM in the Keadeen Hotel in Newbridge, Co. Kildare, on Friday, 1st November. With a successful 2013 almost behind them, members were looking to the next phase for both Real Estate Alliance and property in Ireland. Coupled with the alliances growth in membership in particular over the last year, plus successes in winning central business for the group, the last year has been an outstanding success for Real Estate Alliance.

The first sign of change was the appointment of Real Estate Alliance’s new Chairman, Barry McDonald.  Mr. McDonald, a Chartered Surveyor and Auctioneer, of REA McDonald in Lucan will be Chairperson of Real Estate Alliance for the year ahead. He will be supported by a board of 10 agents from the various firms in REA. (Please see below for a full list of the new board members for Real Estate Alliance).

Real Estate Alliance members met after their best years since 2007 and found many reasons to be positive. There was full attendance by members at the AGM including three recent new members. The property group are now the Group of choice when companies need a national property service in valuations, sales & management provided by Chartered Surveyors.

The mood was much more upbeat than any time since 2007 and reflects a general improvement in the property market across the country.  The recent positive reports on property price were further reinforced by the price increases and levels of activity identified by members of the group.  The Dublin Story has now being well told, but it was heartening to hear that the recovery is not isolated to that market. The estate agents agreed 2013 has been a much improved year with reports of an increase of 60% in sales compared to last year.  

 According to CEO, Philip Farrell, ““I would expect that the next six to twelve month may present people with some of the very best buying opportunities of the last number of years”. The largest increase in activity is lead primarily by people trading up to family homes. First time buyers are also very active in the market”.  He continued, “While this is great news for sellers it is also good news for owners in negative equity and for their banks. It allows those who are in the shallow graves of negative equity to see a squint of daylight and the possibility of a reasonable outcome. For the Banks, this is probably the first time they can with confidence mark the value of the collateral they hold”.  

Real Estate Alliance members also reported considerable growth in the rental market in 2013 around the country, particularly of  three bed houses. In some of the most sought after locations of South Dublin rental increases of 20% were recorded. Areas outside Dublin saw an average increase of 5%.

 In his inaugural speech, Mr McDonald also focused on the successes of Real Estate Alliance over the last year, particularly in relation to central contracts for the group.  According to Mr. McDonald, “We are delighted to welcome in new members to the group over the last few months. The combination of business being distributed to REA agents from central office, together with the requirement that all member firms must be S.C.S.I. accredited is proving a major attraction to new members”.

 Real Estate Alliance is Ireland’s leading property group of Chartered Surveyors with almost 50 Branches throughout the country. REA was founded in 2003 and it comprises some of the Ireland’s best-established auctioneers and estate agents. With one quarter of the alliance’s firms in business for more than a century, the alliance is characterised by a nationwide spread of its Agents who are all members of the Society of Chartered Surveyors Ireland. Real Estate Alliance member firms draw on vast experience in offering clients a top class service in residential, commercial, valuations, sales, purchases, lettings, agricultural lands as well as land development for housing sites, acquisitions, planning, zoning and professional consultancy, including rent reviews, arbitrations, CPO’s, lease renewals and appraisals

Outgoing Chairman Harry Sothern of REA welcomes in incoming Chairman Barry McDonald

At the REA annual general meeting today, Harry Sothern outgoing Chairman will welcome in the incoming Chairman Barry McDonald. They were a great team for 2013 and we would like to thank Harry Sothern of REA Sothern for all his incredible input this year

REA TE Potterton hold successful Auction

Fantastic Auction Results at the REA TE Potterton Auction in Trim last Wednesday 9th October
Portnob, Kildalkey, Co. Meath.
Lot 1 - Residence & 11.29 acres SOLD €158,000
Lot 2 - 12 acres SOLD €90,000
Lot 3 - 57 acres – Withdrawn – under negotiation
www.tepotterton.com

SEA BROOK, BROOK LANE, RUSH, CO DUBLIN - New Launch Weekend of the 5th October 2013

Prices from €199,950 On view Saturday - 12pm – 2pm www.reagrimes.ie Sea, City and Sustainability at Sea Brook, Brook Lane, Rush, Co Dublin A 21st Century home with an indicative ENERGY RATING (B1), a cool contemporary specification and a superb setting close to the beach, sailing club, golf club and all amenities at Rush, Co Dublin. Sea Brook is close to Rush Train Station, the M1, Dublin International Airport and is within easy access of Dublin city centre by bus, car or train, providing an ideal location for living and working in the capital. There a total of 10 of these 3 Bedroom Houses on release from €199,950.

Harry Sothern, Chairman of REA comments on the market

The recent REA group meeting which was held on the 26th of September in Dublin was attended by representatives of their 46 offices and was the most positive in 6 years. All members reported a dramatic increase in business with the Dublin agents complaining of a lack of stock instead of buyers. There was a concensus that the market bottom had been reached and recovery has commenced nationally not just in Dublin. Whilst no one was surprised that this should happen the speed is catching many agents off guard and their scaled down staff struggling to service the viewings. REA firms will be recruiting staff over the coming months. REA are now one of the groups of choice for receiver and stressed sales in some offices this represents 50% of their business. Members noted the significant level of sales to eastern European purchasers in particular Polish. Trading up is becoming popular again with clients taking advantage of the relatively low cost of housing in the middle and upper end of the market. Good agents are normally positive people commented the Chairman and for the first time in many years we have good reason to look forward to a stabilising market.

REA McDonald are selling agents for JESSBROOK equestrian centre,

Once valued at €5m, it has been put on the market by the Criminal Assets Bureau (CAB) and will be sold by private treaty. The CAB was given the go-ahead to dispose of the property by the Supreme Court last November. The property will be offered in three lots. The first comprises 49.55 acres with a 3,000-seater indoor arena extending to about 5,645 sq metres, with two stable blocks including administrative buildings and commentary box. Lot two is 8.73 acres, while the third involves 21.13 acres of grazing land.

New to Market - 14 Lower Rathmines Road, Dublin

Superb 3 storey over basement investment property (316sqm / 3,405 sq Ft) in the heart of Rathmines in superb condition. Currently set out in 5 self-contained apartments, this well maintained property is currently occupied on one year tenancy agreements for 4 out of the 5 apartments. Located just before Portobello Bridge on Lower Rathmines Road, which is considered one of the most sought-after letting locations in Dublin, residents have a host of amenities on the doorstep and are within a short walk of the city centre as well as the LUAS.

McGee Lowe join Real Estate Alliance

Real Estate Alliance has added REA McGee Lowe to its impressive nationwide roster. As a member of Real Estate Alliance, REA McGee Lowe, look forward to continuing to serve their loyal client base, now, with the added benefit of a strong network of established offices both across Ireland. Anthony McGee of REA McGee Lowe believes that this move will bring real benefits to sellers and buyers in the Tallaght area. Commenting on the move Anthony said; “our membership of Real Estate Alliance will enable us to share market knowledge with the leading property firms in the country, seize new opportunities for our clients, speed up the sales process and now having better access to Corporate decision makers.” He continued, “our customers will continue to benefit from our local expertise and knowledge, combined with the extra exposure and experience that this nationwide property group brings.”

Showhouses Open Again

There is murmurings that the residential property market is starting to pick up, according to Harry Sothern of REA Sothern, Carlow. Anyone visiting open houses in Dublin on Saturdays will attest to the numbers flowing in and out of rooms. The satellite towns around Dublin have always been affected by what does on in the ‘Big Smoke’. The property recession hit Dublin first and took about six months to fully hurt towns like Carlow. Carlow agents are hopeful that a recovery in Dublin will seep down here and if recent sales statistics are anything to go by it is already happening. REA Sothern reported three sales alone last Friday! Two other properties on their books received strong offers. Whilst this was the culmination of many viewings over several weeks they are convinced that buyers are now satisfied that the market has bottomed out and are keener to conclude sales than they have been for several years. This Saturday sees the re-launch of Castle Oaks on the Dublin Road (now a NAMA backed development) and REA Sothern are confident of a positive reaction from buyers at new low prices – 3 bed mid-terrace from €120,000, but perhaps the most eye-catching are the 4 bed detached at €200,000. Time will tell. REA Sothern – www.reasothern.ie

Philip Farrell appointed CEO of Real Estate Alliance

Philip Farrell has just been appointed as Chief Executive Officer and his new role will commence this week. REA has been in operation for 10 years and with a 25% increase in size over the last two years currently now has nearly 50 offices operating under its banner across the country. Mr Farrell, who previously held the position of Business Developer Manager of REA since 2011, replaces Eimer O’Keeffe, who will continue to work with REA as Marketing Manager. Mr. Farrell has 25 years experience in the property sector in Ireland. Philip joined REA in 2011 as Business Development Manager and held the position of acting CEO for a period in 2011. He commenced his career as an agent in Co. Kildare in 1989. He spent 22 years working as a partner with REA Brophy Farrell who are based in Newbridge. A Director of REA from 2005-2011, he acted as Chairman from 2005-2006

Tamarisk Cottage sold for €265,000 at Auction

REA O'Shea O'Toole sold Tamarisk Cottage, Dunmore East, Co.Waterford at auction yesterday. Advised minimum value €225K and the property sold for €265K.

June sees highest monthly property rise since crash

Property prices in June registered their highest monthly increase since the housing market crashed more than half a decade ago, new data from the Central Statistics office has shown.Residential prices throughout the country rose by 1.2 per cent compared to May, and showed a similar rise year on year, the first time since 2008 that prices have risen over a 12 month period.

Advertisement for new CEO for REA

REA seeking to recruit a full time CEO. The ideal candidate will be a person looking for an autonomous role and should have a business development background and a detailed knowledge of the property & financial market in Ireland. Applications must be sent to recruitment@realestatealliance.ie by the 5th of July.

REA move into new phase with employment of full-time CEO

REA is moving into a new phase of growth with the employment of a full-time CEO. REA has been in operation for 10 years and has nearly 50 offices working under its banner across the country. Chairman of the REA, Harry Sothern said: “REA is stronger than ever before after our first 10 years in business that has seen a boom, bust and slow recovery in the property market. “We are now seeking a full-time CEO to lead the group into our second decade and help to oversee the expansion of the business.” Mr Sothern said that the employment of a full-time CEO “is a statement of intent” by the group. Over the last number of years, the role of CEO has been a part-time post and Mr Sothern said: “It is only right that the REA has a full-time CEO to lead the group into its second 10 years and new figures confirming a 25% increase in planning permissions in the first quarter of this year offer further confirmation of a recovery in the market. He continued, “We want to be in a position to fully capitalise on the recovery and our new CEO will be central to that by formulating medium and long term growth strategies for the group.” Mr Sothern said that the new CEO will be able to tap into the vast knowledge of REA members in driving the business forward. He said: “All Real Estate Alliance members are members of The Society of Chartered Surveyors Ireland (SCSI) and, with one quarter of our firms in business for more than a century, we offer thousands of years experience in property in Ireland." Mr Sothern pointed out “that already, REA is now recognised as major players in the property market evidenced by the winning of business for the group from various institutions, companies and banks, particularly in the last few years. REA recently re-branded is also a sign of their belief in the future despite the current challenging times.” The past two years have seen the group grow from strength to strength with 12 new offices opening since December 2011 giving 46 REA member offices nationwide. REA expect to reach 50 branches by the end of the summer. The group’s emphasis has never been on having the greatest number of branches around the country and the focus has been on quality rather than quantity. Mr Sothern said that the new CEO will be a person looking for an autonomous role and should have a business development background and a detailed knowledge of the property & financial market in Ireland. The role involves responsibility for developing new business & managing existing relationships with the group's clients; ensuring the Group’s ethos is maintained & that its membership receive an excellent service and ensuring the members of REA are compliant & provide a professional centralised service to the group's clients. Candidates should have should have substantial Property/Banking experience with appropriate qualifications and established knowledge of and relationships with leading banks & receivers, especially in Ireland and the UK.

The Comfy Cafe secures worldwide interest.

Seamus Carthy of REA Carthy received an overwhelming response on the sale of “The Comfy Café” Business situated at Main Street, Roscommon Town. Seamus Carthy confirmed this week that his office received enquiries from all over the world including America, Australia, France and England alongside many local enquiries. Consequently the sale of the subject business was successfully agreed last Friday, 31st May. The new purchasers have confirmed it is their intention to be fully up and running in the course of the next month but in essence they will not be changing in any great detail the day to day running of this extremely successful coffee shop with all existing staff remaining in place. As such, it will be very much business as usual.

Edmond Spratt & Son of Dungarvan join REA

Real Estate Alliance, Ireland’s fastest growing network of dedicated property professionals, has added Edmond Spratt & Son Ltd of Dungarvan to its impressive nationwide roster. There are double celebrations this month as REA Spratt are celebrating their 75th anniversary practicing in County Waterford & East Cork while REA is celebrating their 10th Anniversary. As a member of Real Estate Alliance, REA Spratt, look forward to continuing to serve their loyal client base, now, with the added benefit of a strong network of established offices both across Munster and Nationally. Eamonn Spratt of REA Spratt believes that this move will bring real benefits to sellers and buyers in the Co. Waterford & East Cork. Commenting on the move Eamonn said; “our membership of Real Estate Alliance will enable us to share market knowledge with the leading property firms in the country, seize new opportunities for our clients, speed up the sales process and now having better access to Corporate decision makers.” He continued, “our customers will continue to benefit from our local expertise and knowledge, combined with the extra exposure and experience that this nationwide property group brings.” Eimer O’Keeffe, Chief Executive of Real Estate Alliance, added; “we are delighted to have REA Spratt on board and they represent the type of firm which Real Estate Alliance is proud to be associated with – experienced, professional and qualified. Our continued emphasis on quality before quantity is a critical success factor for Real Estate Alliance, as our 46 firms are members of the Society of Chartered Surveyors Ireland (SCSI). Our aim is always to provide the best service through the most experienced, qualified and professionally recognised estate agents and auctioneers throughout the country,” said Ms O’Keeffe. Spratt’s office at No.9 O Connell Street, is now located in the building where the practice was founded by Eddie & Ita Spratt in 1938. Their son, Donal, entered the family business in 1959 and was highly regarded within the profession and know to one and all throughout the Country. Eamonn, being the third generation joined the practice in 1989. Currently the Firm provides all the services required by a busy rural practice. Eamonn feels that the progressive and aggressive approach which REA are currently showing in the market place, is a vindication of their belief in the positive future which is ahead of us, both in terms of our economy and the property sector. This can be seen with their National advertising presence in recent times. The firm will be strengthened further as a result of joining Real Estate Alliance. Eamonn believes that “we will now be in a position to offer an even better service, thanks to the training and marketing expertise membership of the alliance brings.” ENDS

Final offers required by this Friday, 31st May on the well known thriving coffee shop - “The Comfy Cafe”, Roscommon Town

Seamus Carthy of REA Carthy now invites final offers on this once in a life time opportunity to acquire an established and renowned business situated in the heart of Roscommon Town. “The Comfy Cafe” is an exceptional opportunity offering a “ready to go” business with many years of successful trading. The business is running for just under 9 years and opens its doors 6 days a week. “The Comfy Café” is being sold as a going concern with the benefit of a long leasehold interest. Certified accounts acknowledging substantial turnover figures will be available to genuine interested parties only. All unconditional offers are invited on or before Friday, 31st May and further details are available by contacting our office on (094) 9625990 or Seamus (086) 8035538.

The deadline for filing your LPT Return on-line is 28 May 2013

If you own a residential property and have not yet received your LPT Return, you are still liable for the tax and you must file your Return. You can call the LPT helpline on 1890 200 255 (or 01 702 3049) or you can file your LPT Return on-line as follows:

REA Celebrate their 10 year Anniversary.

REAL ESTATE ALLIANCE RECAP ON A SUCCESSFUL DECADE AS IT CELEBRATES ITS TEN YEAR ANNIVERSARY The group are now recognised as major players in the property market evidenced by the winning of business for the group from various institutions, companies and banks, particularly in the last few years. REA recently re-branded is also a sign of their belief in the future despite the current challenging times. The past two years have seen the group grow from strength to strength with 12 new offices opening since December 2011 giving 46 REA member offices nationwide. REA expect to reach 50 branches by the end of the summer. According to Eimer O’Keeffe, CEO of REA, “our emphasis is not on having the greatest number of branches around the country – its quality and not quantity”. All Real Estate Alliance members are members of The Society of Chartered Surveyors Ireland (SCSI) and, with one quarter of our firms in business for more than a century, we offer thousands of years experience in property in Ireland.

Rent prices on the rise

Rents, which are rising faster than purchase prices, are continuing to make sectors of the residential property market attractive to investors. However, the latest Daft report on rental trends suggests that investors need to be choosy, not alone about where they buy but what they buy. For instance in Dublin North county a five-bedroom house may offer a return of only 3.2pc, whereas a two-bedroom property in the same area could offer more than double that or 7.5pc. Furthermore with demand for rental accommodation continuing to exceed supply, the report suggests that rents may also continue to rise and this in turn may also put upward pressure on prices at least in parts of Dublin and some other cities. So investors who entered these growth sectors of the market recently may look forward not only to improved rental returns but also to improved capital gains, especially if they buy before the end of this year when they could benefit from a tax-free return on profits from properties held for seven years.

Comfy cafe up for sale in Roscommon town

A Unique opportunity to purchase established and renowned thriving coffee shop business, Comfy Cafe, Main Street, Roscommon Town The business is being sold as a going concern with the benefit of a long leasehold interest. Certified accounts acknowledging substantial turnover figures are available to genuine interested parties only.

REA announce all new to market properties on Twitter

Follow REA on REAIreland on Twitter and/or Facebook at Real Estate Alliance Ireland. We upload all of our new to market properties. Otherwise you can register for property updates on our website.

Report of Dublin property prices

This report is a guide to the current property market activities in Dublin City and County. It details the trends and volume of properties ‘sale agreed’ in the residential market. The periods examined in this report is September 2012 to February 2013. Read more on

Increased supply set to benefit first timers

Harry Sothern, Chairman of REA gives his views on the increased supply due to come on the market. With the banks/building societies adopting a low or zero tolerance on interest only loans the number of buy-to-let type properties coming to the market is set to increase dramatically. Most of these will have been properties bought between 2004 and 2008. Many were 100% financed and are now in at least 50% negative equity. With the institutions adopting the stance that half a cake is better than none they will be ‘encouraging’ owners who can not make interest and capital repayments to sell or in worse case scenarios repossessing. The numbers involved are quite staggering – up to 50,000 over the next three years. The beneficiaries of this bonanza of relatively cheap properties will fall into three categories – investors, first time buyers and local business/trades people. Sales activity creates new spend (repainting house, new furnishings etc. etc.) which is good for the local area in which the property is sold. Not all will be rosy for the first time buyer either with many of the properties either unsuitable (apartments) or in areas in which they do not wish to live. Outside of our cities low prices will continue to dominate the semi-detached market for a number of years to come. Semi-detached owners looking to trade up will find it difficult to obtain a reasonable price for their home whilst this overhang of buy-to-let repossessions still remains. Purchasers on the other hand will be a little bewildered at the variance in price – the non-stressed homeowner wishing to sell at a reasonable price compared to the bargain basement repossessed property down the road sold at a distressed auction. The key, as always, is likely to lie in location. If a purchaser wishes to live in a certain area then they will likely have to pay a fair price if no repossessed property is for sale in that area. During this time the middle and upper end of the market will see very little new supply. Sales at this end are less likely to be forced/stressed and are more likely the result of relocation, divorce or bereavement. There is a natural and understandable reluctance to sell for less than build/buy cost therefore most will choose just to stay put unless they fall into the above categories. Non city areas will not see any new build in the foreseeable future with repossessed/stressed homes taking care of that demand. Despite the negatives there are also some positive signs. The Dublin market is picking up with demand outstripping supply in many areas. The promise of an increase in lending by the main institutions will inevitable see prices rise. The neighbouring counties to Dublin and main cities will benefit but not for a few years. Rural areas will take longest of all to see improvement. Rents will move upwards as some of the repossessed buy to lets (which are already tenanted) are bought by owner occupiers. Very few one off houses will be built as long as second hand country homes remain at existing price levels. With 30% Capital Gains Tax, the possibility of land frozen around the site and low site price it is simply not economic for farmers to sell sites. Of course the single greatest impediment to improvement in the market is the difficulty in obtaining sufficient finance for most borrowers. There seems to be a strange conundrum at work – the banks are telling sales agents how keen they are to loan money whilst most borrowers will paint a picture of how difficult it is to obtain the finance the require. The lending criteria adopted are too severe and is greatly affecting recovery. Whilst we all accept that the lending in the Celtic Tiger times was reckless our Banks/Building Societies seem to have overacted as a consequence. In conclusion the low instance of repossession of principal private residences surely sends a clear message to the lending institutions that Irish people will only give up their home when there is no other available option.

Save 100's by getting a accredited valuation on your home.

Don’t let yourself get bogged down with self assessment Property Tax, let the professional valuers handle this!With 45 offices nationwide, Real Estate Alliance is Ireland’s No. 1 fully accredited valuer of homes and houses. Facts about Property Tax! • The annual Local Property Tax (LPT) will come into effect from 1 July 2013. • The tax is going to be charged at 0.18 per cent of the value of the property up to €1 million. • The Tax assessment relates to REAL selling prices - not asking prices. • Your REA - Fully Qualified Chartered Valuation Surveyor Firm, knows the REAL value of your home. • Do not accept that the Revenue Commissioners or The Minister, knows the value of your home without even seeing it. • Remember - good advice is invaluable

Next REA Auction - 28th June 2013

Real Estate Alliance are holding their next Auction on the 28th of June in the Davenport Hotel in Dublin. Register online on our website to receive updates.

New Complex Contracts set out by the PSRA

If you are selling or letting a property and are requested to sign a more detailed contract, please be patient with us as we are just following the rules of the Property Services Regulatory Authority!! It is meant to protect the vendor so hopefully you will understand. http://www.psr.ie/website/npsra/npsraweb.nsf/page/publications-letters-en

OUR ADVICE ON PROPERTY TAX

Revenue are advising you to look at the ASKING PRICES on the various websites like realestatealliance.ie, Daft.ie and myhome.ie but it's the SELLING PRICES that matter. They can be found on www.priceregister.ie It's really only prices in the last 6 months that apply. If a property hasn't sold in your area, it is important to deduct 50-60% from the price you paid for your property in 2006/2007. (or use 1996/1997 comparisons).

CONVENT FETCHES €295,000 AT REA AUCTION SPRING AUCTION.

CONVENT FETCHES €295,000 AT REA AUCTION SPRING AUCTION. Real Estate Alliance’s property auction was held today on Tuesday the 5th of March in the Alexander Hotel, Dublin. The Auction was attended and Auctioneer Thomas Potterton kept the momentum going following the successful first sale of Lot 1, an apartment in Malahide road, which fetched 20% more than its reserve. The highlight of the auction was Lot 7 in Dundalk sold for €295,000. Bidding opened for the former convent at the reserve price of €250,000 & was chased by three bidders to the eventual selling price. Elsewhere in the country in Carlow a 2800 sq ft commercial unit sold under the hammer for €102,000 to a local business man. Other commercial units in the same development realised from €77,000 – all 25% over the reserve. In summary, a total of 10 lots were sold as a result of the Auction, with further lots potentially being sold post auction in the coming days. Auction summary: - 10 Properties sold as a result of the Auction - 4 properties were withdrawn for legal reasons & may be available at a later date. - Several others are under negotiation which narrowly failed to reach their reserve prices and are expected to sell in the coming days. According to Philip Farrell, Business Development Director of REA, “We are pleased with the result and we look forward to our next Auction on the 22nd of May in Dublin. - Ends - For further information contact: www.realestatealliance.ie Philip Farrell, Real Estate Alliance 086 2503515 – philip@realestateallianceie Eimer O’Keeffe, Real Estate Alliance, 086 824 9040 – eimer@realestatealliance.ie

View the REA Auction online in real time

The REA Auction's bids will be online on http://www.eigroup.co.uk/onlineauctions/ Watch in Real time. The Results will be on www.realestatealliance.ie by the 6th of March.

REA Auction tomorrow Tuesday the 5th of March.

REA’s regional property auction will take place on Tuesday, 5th of March at Dublin’s Alexander Hotel where 24 property lots will be up for auction. Real Estate Alliance’s Auction team are expecting a good attendance by both bidders and vendors on the day. The auction’s announcement is timely with Real Estate Alliance members having seen positive movement in the market since the turn of the year.

REA Dempsey selling one bedroom apt in Dublin with a reserve not to exceed 55k.

Built by Walls Developments and completed between 2004 & 2006, Burnell Square is a modern development of one, two and three bed apartments. The property is a well presented one bedroom first floor apartment offering surprisingly spacious accommodation that is both practical and well laid out. Extending to c.53sqm (c.570sq ft) with attractive light filled rooms it is situated in a highly convenient location adjacent to Clare Hall within easy access of the city centre and Dublin airport. more info on

Tips at buying at Auction

Real Estate Alliance have set out details on a buyers Guide on the REA Auction part of the website. The PDF Buyers guide is available on the website

Investment property producing €10,800 PA with €150k in tax allowances to be sold in REA Auction

A Freehold Property entirely let under a single tenancy for a term of 5 years from 2013 at an annual rent of €10,800 p.a. and offering a maximum of €150,000 in tax allowances is to be sold in the REA Auction taking place in The Alexander Hotel, 41-47 Fenian Street (off Merrion Square), Dublin 2 at 12 noon on Tuesday, 5th March. The subject property is a New Build, Town Centre Two Storey Building situated at Main Street, Castlerea Town, Co. Roscommon and comprising 2 no. Ground Floor Commercial Units and 1 no. Three Bedroom First Floor Residence. Maximum reserve is €125,000. Referenced Lot 12 in the REA Auction, solicitor with carriage of sale is Mr. Con Harlow, Conleth Harlow Solicitors, Roscommon Town, Contact No. (090) 66 25939. For further information and to arrange a viewing, please contact: REA Carthy (094) 9625990 or log onto www.reacarthy.ie

REA announce Property Lots for next Auction on 5th of March

Real Estate Alliance has just announced that the third of their group Auctions will feature 24 lots. The majority of properties have disclosed reserves of under €50,000 and comprise a range of residential and commercial properties. The cheapest property on offer a 1 bed apartment in Co. Roscommon for €15,000. The auction, the third of REA’s Auctions, will take place in the O’Callaghan Alexander Hotel, Fenian Street, Dublin 2 on the 5th March and is expected to attract a broad mix of buyers including those looking for good commercial business opportunities and also those hoping to secure a residential bargain. More info on http://www.realestatealliance.ie/national-property-auction/

A record low for house building.

According to he Construction Industry Federation has said 2012 was a record low for house building and expects this year to be lower again. New CIF figures reveal that fewer than 8,500 homes were built last year, the majority of which were once-off houses or the completion of unfinished estates.Records on house building began in 1970 and just under-14,000 houses were constructed that year. That figure was the lowest on record until last year. The CIF says the ESRI estimates that 15,000-20,000 new homes need to be built every year to meet future demand. REA believes this will lead to an increase in the numbers of buy to let style properties. Banks will be releasing more & more of these properties as they will not continue to tolerate interest only payments. This will feed the demand for housing.

Mortgage lending to increase

There seems to be more & more proof that the rate of mortgage lending is on the increase. AIB yesterday announced that its mortgage lending target for 2013 is €2bn. The bank also stated that it lent €1.2bn in mortgages in 2012, representing 45% of the market (Bank of Ireland represented about 40% of the market in 2012). This implies that mortgage lending hit €2.7bn in 2012, higher than our forecast of €2.4bn, and 12% up on the 2011 total. Bank of Ireland last week reiterated a €2bn target for mortgage lending that it made last October and has also stated that it has already received €400m in applications for this fund. Permanent TSB said they would lend €350m in mortgages this year. If targets are met, mortgage lending would reach c.€4.5bn, which is almost 70% above the 2012 estimated level. We currently have 22% growth in gross lending for the market in our numbers (to c.€3bn), so clearly there is upside if these targets are reached. Gross lending will not get back to peak 2006 levels of €40bn but positive Irish housing market trends are likely to be a major feature in 2013

Buy to Lets to replace new builds.

For the next few years repossessed Buy to Lets are likely to replace new build semi’s/terrace’s as the property of choice for first time buyers according to Harry Sothern, Chairman of REA. With the banks/Building Societies less willing to tolerate interest only payments, the numbers of buy to let style properties coming to the market is set to increase dramatically. Many of these will be in unfinished estates and will be priced very much to sell. Purchasers who are interested in more mature areas will find a considerable price discrepancy between the stressed/repossessed properties and those in the more mature locations. Interestingly the level of repossessed/stressed sales are likely to roughly equate to the housing need in this area for the next few years. The net result will be an obvious lack of new build (other than one off housing) in the near future.

REA O'Shea O'Toole in Waterford former Talk Talk premises

The Schivo Group, which manufactures high precision mechanical assemblies for the medical device and aerospace industries, has acquired the former Talk Talk premises in the IDA Industrial park in Waterford City. The Property comprises 3,337sq.m and the selling price is believed to be in the region of €500,000. REA O'Shea O'Toole has indicated that there is quite a lot of demand for these types of premises. More information on www.osheaotoole.com

REA Group Auction on the 5th of March in Dublin

REA announce a new date for their next Auction in Dublin on the 5th of March 2013. The Auction will take place in the Alexander Hotel, off Merrion Square in Dublin 2. There will be a mix of residential & commercial lots available. List of Lots will be announced on the 14th of February 2013.