News
Nine Athenry apartments fetch €42,000 each at auction
A block of nine Athenry apartments have sold for €380,000 at auction – a price of just over €42,000 per unit. The two and three-bed apartments at Athenry Shopping Centre had been set a reserve price of between €250,000 and €275,000, but were bid up to a sale price of €380,000.
That works out at an average of around €42,200 for each of the five three-bed and four two-bed apartments, all of which are vacant and sit on the first floor above a coffee shop, laundrette and other commercial units.
The apartments were sold at an Allsop Space auction of properties nationwide that took place in Dublin last Friday.
Also sold on the day was a detached two-storey house measuring more than 2,400 square feet at Ballinvoher in Turloughmore, which sold at its reserve price of €70,000.
In Claregalway, a two-bed semi at An Mhainistir, opposite the Cois Chláir shopping centre and Arches Hotel sold for €70,000. It had been set a reserve of €55,000.
A 650 sq ft, two-bed apartment at the Statoil development in Clifden sold for just €25,000 – €10,000 under its reserve price. The second floor apartment is generating an annual rent of €3,600 per annum.
See full story in this week’s Connacht Tribune.