Auction could net three houses for 128,000 euro

Three houses in the Letterkenny area, which will go to public auction at the end of the month, could be purchased for a collective total of 128,000 euro.

Three houses in the Letterkenny area, which will go to public auction at the end of the month, could be purchased for a collective total of 128,000 euro.

Interest has already been generated in the sale of the three dwellings, two of them located close to the centre of the town and the third sited in Drumkeen.

A reserve price of 35,000 euro has been placed on a house at 57 Ard O’Donnell which will go under the hammer at the auction to be staged in the Mount Errigal Hotel on Wednesday, February 29th. Lot two relates to a house at 33 Ashlawn which is being reserved at 25,000 euro while a third property at 8 Radhard na Coille, Drumkeen, described as a modern family residence within a small development, is being earmarked with a reserve price of 68,000 euro.

“We expect there to be a lot of interest in these three houses. I’d like to think they’ll go for more than the reserve price but buyers can’t lose. There’s just no risk at that level,” David Reynolds of the selling agents, Gunne Reynolds, said yesterday.

“The house in Drumkeen is brand new so there’s obviously good value to be had there,” he insisted.

The three bedroom dwelling at Ard O’Donnell is an end terrace residence located just minutes from Letterkenny Town Centre. It’s described as an “ideal investment opportunity” with gardens to the front, side and rear.

The semi-detached house at Ashlawn also includes three bedrooms but is, according to the selling agents, in need of “total refurbishment.”

The third property in Drumkeen features four bedrooms, one of them en-suite, and is described as being in “excellent decorative order.”

All three houses will be open to viewing this Saturday in advance of the auction. “Anyone can come along and we anticipate big interest in them.

“There’s only one way the price of property can go after this,” said Mr. Reynolds.

The public auction in the Mount Errigal Hotel will get underway at 2 p.m. on Wednesday 29th.

Underlining the current value in the property market, a two bedroom house in Rathmullan’s Market Street is being sold by Brendan McGlynn & Associated Ltd. for an asking price of 40,000 euro - it does require significant renovation.

Meanwhile, planning permission is being sought for the erection of forty-two houses in Convoy.

Meadowfield Developments Limited have applied for permission to erect 39 two-storey dwellings and three one and a half storey dwellings at Flax Fields, Kiltoal.