Monday, 18 August 2014

Good Week for REA Sothern

Even in recessionary times, land sales are still capable of commanding interest. This was certainly the case when REA Sothern sold first 9 and then 16 acres at Maganey at the auction in The Seven Oaks Hotel  last Thursday. With approximately 40 farmers in attendance, bidding was brisk on the 9 acres, with the reserve of €70,000 soon reached.

The property was formally placed on the market at €102,000 and four bidders chased the property until it was knocked down at €129,000 – almost €14,500 per acre.

The 16 acres proved sluggish with only two bidders showing real interest. This was primarily due the fact that the land needed reclamation and had small road frontage. None the less, Harry Sothern coaxed the bidders to over €100,000, at which point it was placed on the market eventually selling for €112,000, (€7,000 per acre).

The final lot on the day was a small two bedroomed cottage on circa 0.6 acres which was withdrawn at €45,000. The property is now for sale by private treaty with an asking price of €58,500. A new bidder has emerged, and a sale is expected to be completed this week.

14 The Weirs
This three bed apartment has been on the market for some time and has now been sold for €38,500.

2 Fruithill Court
On the market for just three weeks with REA Sothern, number 2 Fruithill was one of the finest houses on their books. This was appreciated by one of several viewers who viewed on Friday, made an initial offer, and a deal was concluded at a satisfactory level for the vendor on Friday evening. REA Sothern had been seeking €205,000.

81 Feltham Hall
Just a week on the market, this stunning circa 2,000 sq. ft. 4 bed has attracted immediate interest and is already under offer. Described by REA Sothern as in impeccable condition, the house features 2 bedrooms en-suite, 2 fine reception rooms, bespoke cherry kitchen with top quality appliances and marble counter top, quality hard wood flooring and tiling downstairs, carpeted upstairs, fully tiled bathroom and shower. In addition, there is a double garage to the side of this end site. Sothern’s seek offers circa €248,500.

3 Riverwood, Timolin
This large 4 bed bungalow had been on offer at €245,000 between joint agents, Jordon Auctioneers & REA Sothern.

Following bidding, sale was concluded last week in excess of the reserve price.