FOUR homes in County Limerick have been saved from dereliction and are now ready to be sold on the open market after undergoing refurbishment works.
The houses, located in Bruff, Abbeyfeale, and Askeaton, were purchased by Limerick City and County Council and were fully refurbished by the Council under the Rural Limerick Housing Development (RLHD) scheme.
The four properties are now ready to welcome new owners and are suitable for first-time buyers or those looking to downsize due to their town centre locations and close proximity to schools and facilities.
Each property allows the new owner to put their stamp on the homes, with kitchens, bathrooms, and floors left for the new owners to choose.
The properties are priced between €150,000 to €170,000, with the most expensive house located on William Street, Askeaton. The two-bedroom townhouse is on the market for €170,000.
The other property in Askeaton, as well as the one in Bruff and Abbeyfeale range from one-bedroom to three-bedrooms, and are on the market for €150,000.
The properties may be eligible for the Vacant Property Refurbishment Grant (Croí Cónaithe) of up to €50,000 to help the new owners finish them off.
Each formerly derelict and vacant property achieves clean legal title allowing for mortgage approval.They have high building energy ratings (BER) and are structurally certified and building regulation certified.
The project was funded under the Rural Regeneration and Development Fund (RRDF) with €2.5million funding allocated to Limerick. Limerick City and County Council provided €800,000, giving a total of €3.3 million for the overall project, which applies to 12 towns and villages in County Limerick. The project sees the Council refurbish properties and offer them for sale on the open market.
Head of property management at the rural, community and culture development directorate of Limerick City and County Council, Jayne Leahy, explains: “Development of derelict properties, by nature, involves risk in terms of the unknown condition of the property once works commence. In addition, financial institutions are normally reluctant to fund such developments due to this potential risk.”
“By developing these properties to builder’s standard finish, Limerick City and County Council, supported by the RRDF funding, have been able to de-risk the properties, with the aim of bringing them back into residential occupation.
“These properties represent a significant opportunity for any potential purchaser. Without the intervention of the Council, it is likely that these properties would remain in their vacant and derelict state,” Ms Leahy concluded.
