Local estate agents DNG Duffy have put together a new YouTube clip discussing the Dundalk property market.
Keith Duffy discusses the benefits of the town, what is available and recent trends, including rise of renters looking to buy.
Check it out above.
The Marshes
US-based property investment group Kennedy Wilson announced yesterday that it had agreed to acquire the Elliott loan portfolio and the Marshes Shopping Centre in Dundalk for a combined €120 million.
It is believed that the Marshes was bought for around €45m.
The centre, which has been trading since 2005, had been funded by Ulster Bank, a member of the Royal Bank of Scotland Group, which is campaigning to have loans repaid as part of its drive to reduce its exposure to the property market.
The Marshes is a highly successful centre with Dunnes Stores and Penneys as anchor tenants among the traders.
The complex extends to 25,172sq m (270,961sq ft) and has an overall rental income of €3.85 million. Other traders include Eason, Dorothy Perkins, Lifestyle Sports, McArdle Meats, Mothercare, River Island and Peter Mark.
It also has planning permission for a cinema complex.
Kennedy Wilson was part of a joint venture company which also acquired Stillorgan shopping centre in Dublin and Merchant’s Quay in Cork last summer as part of the Opera portfolio for €306 million.
The loans associated with former Cavan-based construction group P Elliott are secured against a portfolio of 13 real estate assets, comprising primarily offices, industrial, retail and residential properties for €75 million.
These assets form part of RBS Capital Resolution, which is responsible for disposing of Ulster Bank’s non-core assets.
One of the existing homes in Knockshee
BWH Developments Ltd have been granted conditional planning permission by Louth County Council to complete six houses at the Knockshee estate on the Old Golf Links Road in Haggardstown.
The homes were originally given the go ahead in 2007 but were never built due to the downturn in the building trade and property market.
However, with the market on the up again and interest in homes close to the likes of PayPal on the rise, it appears that they will be completed shortly.
The six houses include four two storey semi-detached homes and two two storey detached homes. The houses will be located at sites 1, 2, 3, 21, 22 and 23.
The Marshes
International property investment fund Kennedy Wilson is the front runner to buy the Marshes Shopping Centre for around €45 million, according to a report in today’s Irish Times.
The centre forms part of a portfolio of shopping centres being sold by Savills for the Abbey Group and Foyleside Group.
The centre, which has been trading since 2005, was funded by Ulster Bank, a member of the Royal Bank of Scotland Group, which is campaigning to have loans repaid as part of its drive to reduce its exposure to the property market.
The Marshes is a highly successful centre with Dunnes Stores and Penneys as anchor tenants among the traders.
The complex extends to 25,172sq m (270,961sq ft) and has an overall rental income of €3.85 million. Other traders include Eason, Dorothy Perkins, Lifestyle Sports, McArdle Meats, Mothercare, River Island and Peter Mark.
Kennedy Wilson was part of a joint venture company which also acquired Stillorgan shopping centre in Dublin and Merchant’s Quay in Cork last summer as part of the Opera portfolio for €306 million.
68 Belfry Drive in Dundalk, which sold for €183,000 at the start of September
Asking prices for houses in Louth have shown signs of stabilisation in the third quarter of the year, with the latest survey from property website MyHome.ie showing that the median price for a four-bedroom semi-detached home has remained unchanged for the third successive quarter at €179,000.
That means that prices have dropped by just €1,000 in the last year as the annual rate of decline has now dropped to just 4.4%. It also means that four bed homes in Louth are now €9,000 more expensive than a similar home in neighbouring Meath.
The price of a three-bed semi in the Wee County fell slightly during the last quarter by 1.1%, dropping back by €1,475 to €138,500.
Talk of the Town 