THE local property market and particularly the retail sector, received a massive boost last week when the National Irish Bank building on the corner of Rose Inn Street and The Parade sold for over E1 million. This was a whopping E400,000 more than the guide price. And it has been confirmed that Paddy Power bookmakers has not purchased the property. It is thought that two local busines people, represnted by agents bidding against each other, contributed to the price for the three storey, red bricked building.
The premises went on the market in November through Michael Boyd, auctioneer , Patrick Street, Kilkenny, trading as Boyd’s REA, and while bids came fairly quickly they were low starting at about E450,000. When business resumed in January interest in it took off and there were six bidders while 22 different parties looked at the premises.
Mr Boyd, pictured below, has been advising clients to come back into the property market locally and nationally for some time because of the good value to be had in Ireland. And in the case of the Danske Bank owned building, all the bidders and viewers were local business people.
“This is a tremendous vote of confidence in Kilkenny, the city centre and everyone should take great heart from it that people are prepared to invest in the future of the city,” he said. He refused to confirm the price achieved as it was confidential.
Caption Michael Boyd, auctioneer