ADAMSTOWN and RATHBORNE FROM €300,000:Castlethorn has cut prices at Adamstown to the west of Dublin and The Village at Rathborne, in the north-west of the city, writes Fiona Tyrrell
CASTLETHORN Construction has cut prices for the first time at Adamstown, its flagship starter home development in west Dublin.
It is also attempting to clear remaining units at Rathborne on the northern fringes of the city with price cuts.
Adamstown Castle was the first element of the new town, near Lucan, to go on sale in 2006. It comprises 650 homes, 600 of which are now occupied, according to the developer. Now the last remaining 20 units come to the market with reduced prices.
Four-bed houses have been cut by €100,000 to €425,000 - a drop of 19 per cent. Three-bed homes cost €355,000, down by €55,000 - a reduction of 13 per cent. Duplex homes cost €345,000, down from €385,000 - a 10 per cent drop.
Although developers have been cutting prices in new home schemes to clear stock and induce buyers back to the market since the start of the year, this is the first time prices at the massive Adamstown scheme have been cut.
Adamstown is the first new district being developed under the Government's Strategic Development Zone (SDZ) principles, which require developers to build in infrastructure, such as schools, roads and community facilities, in tandem with the housing.
When first unveiled it was announced that 10,000 new homes would eventually be provided at the new district which is on the Dublin-Kildare railway line.
The first two primary schools at Adamstown have been open since September 2007 and the 1,000-pupil secondary school is due to open in September 2009.
Planning permission has been secured for Adamstown Central, the new town in the heart of Adamstown, which will incorporate over 60 shops, bars, cafes restaurants and a cinema. Selling agent Gunne New Homes will be opening five show units on site this weekend to give potential buyers a flavour of what is on offer. A batch of around 25 homes at Adamstown Square, where prices have also been reduced, will also go on sale.
Castlethorn has also cut prices at The Village at Rathborne - its section of a major new residential area being developed in north Dublin between the Tolka Valley and the Royal Canal.
The final apartments are for sale through Savills HOK on site this weekend. Prices start at €315,000 for two-bed apartments, representing a drop of €95,000 or 23 per cent from when they were last launched in September 2007.
Three-bed penthouses are priced €400,000, down €100,000 from 2007, which represents a drop of 20 per cent.
First launched in April 2003 The Village is now taking shape. Retail and commercial elements include Superquinn Select, a canal-side cafe and a number of other retail and commercial outlets.
Rathborne is around five miles from the city and 20 minutes away from Dublin Airport.
Regular train services at the adjacent Ashtown train station means that the city centre is just 20 minutes away.
Other amenities at Rathborne include a new five-acre park along the canal which incorporates a tow path walkway.
FACTFILE RATHBORNE:
NAME:Village at Rathborne
NUMBER OF UNITS:20
PRICES:Two-bed, 71sq m (770sq ft) apartments cost from €315,000 and 89sq m (955sq ft) three-bed penthouses cost from €400,000.
FEATURES:kitchen appliances, heated towel rail in bathrooms, timber decking or paving on balconies, one underground car parking space per apartment. There are two car spaces for the penthouses which have hardwood floors, kitchen tiling and granite worktops.
AGENTS:Savills HOK, www.savills.ie
FACTFILE ADAMSTOWN CASTLE:
NAME:Adamstown Castle
NUMBER OF HOUSES, APARTMENTS:20
PRICES:four-bed homes of 144 sq m (1,539 sq ft) are priced from €425,000. Three-bed houses have 108-124sq m (1,160- 1,330sq ft) and cost from €355,000. Duplex homes have 120 sq m (1,291 sq ft) and cost from €345,000. Some duplexes with 102sq m (1,100sq ft)are priced from €300,000.
FEATURES:kitchen appliances, wiring for smarthome technology, fitted wardrobes, private rear gardens in three and four-bed town houses.
AGENTS:Gunne New Homes; www.gunnenewhomes.ie
