Park House Sold At Auction

May 2, 2018
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Park House sold at a public auction today by Sherry Fitzgerald John Rohan and Savills was prime investment property Park House, Waterford. Sold with sitting tenants Kenny Stephenson Chapman solicitors who hold a nine year lease, the property offers a modern two storey office building c 207sq m with generous parking and occupies a prominent position close to The Peoples Park in the hub of Waterford’s financial district. The site is located in an area zoned “General Business Use” under the Waterford City Development Plan.

The auction was held in the offices of Sherry FitzGerald John Rohan on the Cork Road where the auction area was a hub of activity. With an asking price of €275,000, bidding on the property commenced with an offer of €250,000 with bids increasing until €275,000 was reached and the property was deemed to be on the market to be sold to the highest bidder from that point. Bidding was fast and furious as several bidders attempted to reach success with their offer until final figure of €430,000 was achieved, the hammer slammed down and the property was sold.

Selling auctioneer John Rohan commented “We were very happy with the outcome today,  with the property attaining a figure well in excess of the asking price. The last number of weeks have been busy with viewings on the subject and we had anticipated a successful sale judging from feedback. The investment property market is strong, with prices rising and rents increasing so purchasers want to buy now while there is value to be had. We wish the new owners all the best with their purchase.”

You can watch the video of the hammer coming down here: