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The cut-priced 'New Priory' apartments have been snapped up

One of the apartments in the old Priory Hall complex sold for just €145,000.

1/9/2016. Primary Hall Reconstruction Nearing Comp Refurbished New Priory Complex Source: Eamonn Farrell/RollingNews.ie

JUST OVER FIVE years since residents were forced to evacuate the Priory Hall apartment complex in Donaghmede, north Dublin, the first 43 refurbished apartments put up for sale have been snapped up for as little as €145,000.

In total, the sale value of the properties topped €7 million.

Only put up for sale in late October, the “New Priory” apartments have now all been “sale agreed”, according to the estate agents Hooke & MacDonald.

Of the 43 for sale, the majority had two bedrooms, while just three were one bedroom apartments. While a one bedroom apartment was sold for as little as €145,000, the two bedroom apartments primarily sold for between €165,000 and €195,000.

According to figures from Daft.ie, apartments in the Donaghmede area often sell for well in excess of €200,000.

A spokesperson for the estate agents told TheJournal.ie that the new refurbished apartments were “good as new” and that Dublin City Council had done a “fantastic job” and had gone to “huge lengths to ensure that there’s never any problems again.”

They added that the development was particularly popular with first-time buyers.

With the next round of refurbishment set to be done on the remaining apartments within the old complex over the next year, it is expected that the next set of rebranded New Priory apartments will go up for sale in autumn 2017.

priory hall 2013 Priory Hall, pictured in 2013 Source: Brian Lawless

Scandal

The residents of Priory Hall were forced to leave their homes and live in temporary housing in late 2011, after it emerged that there were serious fire safety concerns at the development, which was constructed by the Coalport Building Company.

After petitioning the State to take action on the situation, a deal announced by the Government saw the Priory Hall homes transferred to Dublin City Council, the residents’ credit ratings restored and they are being offered new mortgages by their original banks.

Welcoming the residents to Áras an Uachtaran in 2013, President Michael D Higgins said that “our citizens were failed” by the State, and society in general.

Note: Journal Media Ltd has some shareholders in common with shareholders in Daft.ie.

Read: Council says first phase of Priory Hall apartments have been fully refurbished

Read: Dublin City Council to start selling refurbished Priory Hall apartments

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Sean Murray

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