Daft Property - Irish Property News

THE CHOICE of investment properties available to Irish and overseas buyers is steadily increasing with the launch today of a marketing campaign for an entire development of 62 apartments and penthouses next to the North Circular Road entrance to the Phoenix Park in Dublin 7. David Browne of agent HT Meagher O’Reilly is seeking €9 million for the high quality scheme which was completed 12 years ago by Tony Gannon’s Unicorn Homes. The investment will show a net yield of 7.78 per cent. The broad mix of apartments in Park Lodge are fully occupied and are producing a rent roll of €823,000 per annum. The location has proved extremely popular from the start – beside the Phoenix Park and five minutes walk from the Luas at Heuston Station which travels past the Four Courts to the city centre. The five-storey apartment block is also a few hundred yards from the newly-built Criminal Courts of Justice on Infirmary Road. Park Lodge was developed on the site of the old Park Lodge Hotel, onc...

Parknasilla sells for over €10 million to overseas investor... LESS THAN seven weeks after being offered for sale, the Parknasilla Resort Spa in Co Kerry has been taken off the market after a satisfactory offer was received by selling agent Savills. An overseas buyer is understood to have offered in excess of the guide price of €10 million for the four-star resort which is being sold on behalf of Bank of Scotland (Ireland). The Sneem hotel was bought six years ago by property developer Bernard McNamara for almost €40 million. He subsequently spent at least €30 million on enlarging and upgrading the resort and building 62 self-catering lodges and villas in the grounds. Tom Barrett of Savills said the sale had attracted over 100 inquiries, most of them overseas hotel groups and investors. Savills is also close to wrapping up the sale of the Cork International Airport Hotel, also owned by McNamara. An overseas buyer is to pay over €5 million for the facility which was devel...

Reality of the market has yet to hit property brochures... It’s almost  the end of 2012  and let’s face it, the property market is all about reality these days…some would say grim reality so why haven’t some estate agents tempered the grandiose  language in their brochures to reflect the general mood, one wonders?  It’s supposed to be a new era of transparency following the introduction of the  Property Services Regulation Act 2011 so shouldn’t that involve a rethink on the adjective  count  in the average brochure? Take for example the use, or misuse,  of the word “residence”  which seems to apply to  the  pokiest townhouse and  modest three-bed semi. While referring to a small house as a residence  isn’t wrong exactly, it is a tad misleading, or it would be if you couldn’t see the photos. Maybe the hope is if they use the word often enough it will subliminally trick the buyer into thinking  they are buying Do...