28-05-2025
- Business
- Irish Independent
Derelict property seized by Wexford County Council sells for €18,000 over its asking price
The property was identified as being suitable for acquisition under the Urban Regeneration and Development Fund (URDF) programme which requests local authorities to act as the conduit for getting long-term vacant and derelict properties into the ownership of those who will return them to use.
Valued at €75,000, a best and final offer of €93,000 was received on April 4, 2025 and the property is now to be sold to Galina McDonald of Maytown, Tagoat.
The purchaser is required to 'substantially complete works' on this property, so as to render it non-derelict and return it to productive use (residential), within 24-30 months from the date of closing of the sale. There will be a buy back option for the council should the works not be completed within the required timeframe.
Properties acquired by local authorities under this programme must be offered for sale on the open market so as to bring them back in to use in a timely fashion.
