The National Irish Bank Building on the corner of Rose Inn Street and the Parade in Kilkenny has been sold for over €1 million – more than €400,000 above its guide price.
It is thought that two local business people are responsible for the purchase of the three storey, red bricked building.
The premises went on the market in November through Michael Boyd, auctioneer, Patrick Street, Kilkenny, trading as REA Boyd, and while bids came fairly quickly they were low starting at about €450,000. 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 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 exact price achieved as it was confidential.