A ghost estate in Ballymote is on the market for just €240,000 – less than the cost of a single house in the development only a few years ago.
Only one of the 14 houses in the unfinished Downs Estate is occupied. The houses initially went on sale in 2007 with hefty price tags of €250,000 and €245,000. But only one was ever sold in what was described as “a prestigious development in a magical location”.
Now 13 of the estate’s 14 houses are up for grabs with an asking price of €240,000. Three of the houses are fully complete, three more plastered internally, while seven are at what’s called “shell stage”.
The only occupied house is the best maintained. The householder declined to comment on the sale of the estate. Auctioneers Sherry FitzGerald are selling the estate on instruction from receivers Kavanagh Fennell. Selling agent Ken Draper said: “It’s priced to allow an incoming builder/developer to complete the units and have some margin.”