WHAT does it say about the property market in Donegal at present when a local auctioneer is seeking more for a site of .2 of an acre in Letterkenny than an apartment or shop in the town.
That is what is reflected in the reserve prices on five lots to be auctioned by Sherry Fitzgerald Rainey on December 1.
The four properties at Fortwell Road and Lower Main Street as well as the site at Canal Road are part of the state of the late Kevin Peoples.
Lot 1 on offer is the site of 0.216 acres at Canal Road with commercial development potential, subject to planning permission. The site has good road frontage and carries a reserve price of €40,000.
Lot 2 is a two storey office premises at Fortwell Road extending to 2,200 sq ft (204.38 sq mts). The property was previously occupied by the Office of Public Works. It carries a reserve price of €25,000.
Lot 3 is a ground floor retail and office premises at Fortwell Road extending to 1,900 sq ft (177 sq mts) with a reserve of €20,000.
Lot 4 is a first floor apartment and store room at Fortwell Road extending to 1,000 sq ft (93 sq mts) located above the existing Grahams Bookmakers premises. It has a reserve of €20,000.
The final Lot is a ground floor and first floor apartment located at Kelly’s Lane, Lower Main Street which has a reserve price of just €10,000.
The auctioneer points out that all of the buildings on offer are in need of “extensive refurbishment”.