Newtown Centre on the Market for €2.75m

first_imgNewsLocal NewsNewtown Centre on the Market for €2.75mBy Alan Jacques – October 2, 2014 689 THE Newtown Centre, a two-story commercial development in Annacotty, is on the market with a guide price of €2.75 million.The sale of the development – which generates an annual rent in the region of €268,000 – is being handled by Savills Cork on the instruction of the Receiver Grant Thornton. The Newtown Centre is located between Newtown and Annacotty, around 1km east of Castletroy.Sign up for the weekly Limerick Post newsletter Sign Up Siobhan Young of Savills commented, “The Newtown Centre provides investors with the opportunity to acquire a finished property with strong tenant occupancy levels and a considerable rent receivable per annum.”“The current vacant office units provide scope to increase future rental income and we expect to receive high levels of enquiries for this investment,” Ms Young revealed.The modern two storey commercial development occupies a site of 2.17 acres. There are nine fully occupied ground floor retail units and 10 first floor office units, seven of which are currently occupied. Current tenants including Bord Gais, Mace, Curves and Bambury Bookmakers, are not affected by the sale.The development also includes an extensive surface car park sits at the front of the property providing an abundance of customer parking. Limerick Artist ‘Willzee’ releases new Music Video – “A Dream of Peace” WhatsApp RELATED ARTICLESMORE FROM AUTHOR Advertisement Print Linkedin TAGSAnnacottyGrant ThorntonlimerickNewtown CentreSavills Cork Emailcenter_img Previous articleGround control to LITNext articleClowning around on animal-act circuses in Limerick Alan Jacqueshttp://www.limerickpost.ie Vanishing Ireland podcast documenting interviews with people over 70’s, looking for volunteers to share their stories WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Facebook Limerick’s National Camogie League double header to be streamed live Limerick Ladies National Football League opener to be streamed live Predictions on the future of learning discussed at Limerick Lifelong Learning Festival Twitterlast_img read more

Repossessions hit the highest number since 2014

first_img18 months ago The Negotiator reported that home repossessions by banks had dropped by 25% according to the Council of Mortgage Lenders (CML). During 2016, 7,700 homes home were taken back by banks, down from 10,200 in 2015, the lowest number since 1982.Repossessions had peaked in early 2009 following the financial crisis at approximately 50,000 a year then began a prolonged year-on-year decline as the economy recovered, with some of the largest reductions over the previous two years.However, Paul Smee (pictured), then the Director General of the CML, said, “Customers do need to be ready for a time when the outlook may not be so benign, with pressure on real incomes increasing and as interest rates begin to move upwards again.“Lenders remain committed to helping borrowers work through any period of temporary payment difficulty and remain in their home wherever possible.”39% rise in repossessionsIt seems that time may have come as the latest official data show that mortgage lenders’ claims for home repossession in England and Wales rose to the highest since late 2014 during the three months to June, this year.The Ministry of Justice recorded 6,179 claims in county courts for repossession, a 39% rise compared with a year ago and the biggest annual increase since the financial crisis.“Such a large jump, topping the year-on-year rise seen in the final quarter of last year, raises fears serious financial strain among households is on an upward trajectory once again,” said Tim Waterlow (left), development director of mortgage provider Responsible Lending.The number of mortgage orders for possession (4,007), warrants issued (4,692) and repossessions by county court bailiffs (1,245) increased by 40%, 34% and 30% respectively.Paul Smee home repossessions repossessions CML Council of Mortgage Lenders August 12, 2019Sheila ManchesterWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Housing Market » Repossessions hit the highest number since 2014 previous nextHousing MarketRepossessions hit the highest number since 2014The latest official data show that mortgage lenders’ claims for home repossession in England and Wales rose to the highest since late 2014 during the three months to June, this year.Sheila Manchester12th August 20190764 Viewslast_img read more