With recent government policy offering up to €70,000 in grants to renovate derelict properties, interest in homes left to go to rack and ruin has shot up.
And the exact same can be said for Kilpierce in Enniscorthy. The three bedroom country cottage sits on a 0.75 private site and was due to go up for auction on September 25 with a guide price of €80,000. For sale by Quinn Property, the auctioneers revealed the house sold prior to auction.
Jack Quinn handled the sale of behalf of the vendors and noted that “the property attracted almost unprecedented levels of interest”. While Mr Quinn could not disclose the exact price achieved, he noted that it was considerably above the guide price of €80,000.
Jack added that recent government policy has an a direct impact on interest levels and values of similar properties. “Our understanding is that the property will qualify for the Vacant Property Refurbishment Grant which provides a grant of up to €50,000 to renovate a vacant property and up to €70,000, if the property is derelict.”
Government grants have made properties such as Kilpierce more attractive and financially viable for purchasers while also increasing the value of vacant and derelict properties.
Jack Quinn added, “I would encourage owners of such properties to speak with us to get an up to date valuation.”
This article was written by Sarah Murphy and can be accessed here.