A site in the heart of Letterkenny which was once purchased for more than €700,000 during the boom years has ben sold for “considerably less.”
The site at College Farm Road had been once purchased with a view to building townhouses.
However the plan never went ahead and the site was sold on last weekend by local estate agent Dermot Rainey.
Mr Rainey confirmed to Donegal Daily today that a price has been agreed on the property.
However the well-known estate agent said he could not disclose the selling price.
He said “It was agreed by the vendor to sell it by best offer instead of auction before the original planned auction date.
“We received a lot of offers and we were quite happy with the result.
“I am not in a position to disclose the actual sale price,” he said.
Mr Rainey said the sale was not a reflection that the stagnant property market is beginning to move again.
“It would have been a very sought-after site and the reserve of €20,000 was a very attractive one.
“It’s close to shops and schools and there are few sites like it for sale in the heart of Letterkenny,” he said.
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