A Dundalk ghost estate, which is occupied by just two families, has sold for just over €1.2 million.
Talk of the Town revealed in early May that the Carlinn Hall estate had gone sale agreed. However, the latest update from the Property Price Register shows that the sale has gone through for €1,233,480.10, exclusive of VAT.
The estate on the Mullaharlin Road went on the market last July for €2.95m, on the instructions of receiver Declan Taite of RSM Farrell Grant Sparks.
The site, which measures 7.26 hectares (17.93 acres), went sale agreed earlier this year with the deal completed in recent weeks. It is not known as yet who the purchaser is.
The land for sale included the first phase of 30 houses, some of them completed and others at various stages of completion, as well as foundations for a further 25 homes.
Cavan-based Keelagh Homes had been developing the site with funding from the EBS before the company was put into receivership. The loans are now the responsibility of NAMA.
The developer had carried out extensive ground works on the site including underground services, estate roads, footpaths and street lighting. Two of the houses are already occupied – well short of the original intention for 203 houses and a crèche.
Alternatively there is planning permission for a 70-bedroom nursing home in place of 21 of the houses. An extension of the planning permission means that it does not expire until June 2016.
Its close proximity to the Xerox Technology plant, including recently opened PayPal and eBay, also make it attractive to investors.
The Carlinn Hall houses were specially designed to include high energy efficiency through insulation and high-tech heating and were marketed as homes of the future.
Talk of the Town 