The Tinvane Park unit, which sits on a 12-acre site on the Pill Road has sold at auction for €970,000, following a public auction held at the Hotel Minella on Wednesday last.
Considering that the Advised Minimum Value for the premises had been set at €440,000, the eventual sale of Tinvane to two respected and well-known local businessmen (who have not gone public on the news at the time of writing) augurs well for the local economy.
According to selling agent John Stokes of REA Stones & Quirke: “To sell the building for almost €1 million demonstrates an increased level of confidence in the Carrick market from a commercial perspective. This was a really good sale in the wake of a most interesting auction in which we had six parties bidding, including interested parties from both the United Kingdom and the United States.”
Mr Stokes said the “strong ex-pat” community retains more than a mere sentimental interest in Carrick-on-Suir and its hinterland, as illustrated by the strong interest which has been shown in the 41,000 square foot unit in recent months.
And that same ex-pat community, and its potential to invest in a range of business, tourism and promotional ventures was referenced at the recent launch of Carrick-on-Suir Business Association’s (COSBA) Strategic Vision 2030 document.
“The premises was very well-built (by the late Martin Brophy of Martin Brophy Construction) and it’s an absolute credit to him that it is in such excellent condition when one considers it has stood without use for the best part of a decade. Some improvement work will have to be carried out in the building and on the rest of the site itself, but in the greater scheme of things, these works will be relatively minimal.”
The sale of the site has been welcomed locally and suggests that the main approach into Carrick-on-Suir from Waterford, given the recent completion of the nearby Comeragh College, shall continue to improve.
John Stokes said that residential properties in Castle Court and Cluain Cregg “continue to sell well – they’re very nice areas and remain very popular”, but, as is the case in Waterford, Tramore and Clonmel, “supply and demand are nowhere close to matching up at present given the lack of new builds”.
As for Tinvane Park, let’s hope the planning issues which bedraggled this project, particularly back in 2008, can be avoided once the new proprietors bring their vision for the site to light.