Apartment Development sells out in one weekend

Thursday, January 07, 2010

Capella Court is a private gated apartment development consisting of 63 fully completed two bedroom apartments off Langton Cross in Newbridge Town, Co Kildare. The development was originally brought to the market September 2007 with prices ranging from €320,000 to €350,000. The development failed to sell in volume and was re-launched in April 2008 with revised prices ranging from €250,000 to €300,000. Unfortunately only a limited number of apartments sold at that point. In September 2009 a decision was made by the lenders to put this development into receivership and Mazar’s were appointed as receivers over the asset. HT Meagher O’Reilly New Homes were appointed as new sales agents and launched the scheme with three new show homes on Thursday 19th November 2009. We initially offered one block of 21 units to the market with significantly reduced prices ranging from €110,000 - €145,000. Initial reaction was extremely strong with deposits taken on all 21 units by the Friday. On the strength of this result we were instructed to release the remainder of the units on the Saturday and the development sold out with 45 new deposits taken by Sunday. To make the sales process easier we provided purchaser packages including; Discounted flooring packages provided by local suppliers A choice of discounted ‘white goods’ packages Financial packages and advice A choice of solicitors on our panel offering competitive rates. Interest came from far and wide including Irish people calling from Sydney, Abu Dhabi, Canada, New York and many calls from the UK. A mix of buyers purchased including local first time buyers, trade down couples and some investors. Whilst we all agree that 2009 was a difficult year in the property market this launch has proved that there is strong demand for well constructed property that is well located at the right price. All homes are currently now reserved however if you have interest in this scheme and would like to be included on our cancellation list please contact us on 01-6342478.