All but four Gasworks units sale agreed – Irish Times – 12/05/2011

AFTER the hoopla of last week’s receiver sale of flats and houses at the Gasworks in Dublin 4, selling agent HT Meagher O’Reilly says it has sold all but four of the units available.

Initially it offered 20 apartments and six houses at prices between €155,000 and €385,000. It later included a further six apartments with tenants in situ.

“We have now sold 28 of the 32 available “says HT Meagher O’Reilly’s David Browne, going on to explain that buyers were a mixture of first-time buyers, some of whom are already tenants, and Investors from around the country.

The one thing the buyers have In common, says Browne, Is plenty of cash. “The Investors are saying they have cash reserves and the FTBs in the main are getting parental assistance.”

This will help in the often difficult process of converting “sale agreed” into “sold”.

New homes agents have found it particularly difficult to get buyers over the line in the Last couple of years; similarly, receiver sales have been attracting a high level of deposits to start with – then many buyers pullout at the last minute, either because they can’t get the funds or bottle out, thinking that prices will drop even further.

The Irish Times

12/05/ 2011

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