AN OFFER of €75,000 has been made to purchase the home of Limerick writer Kate O’Brien, which has been reduced by a dramatic 76 per cent.
However, the offer is €10,000 lower than the €85,000 reserve set out by de Courcy auctioneers in the city, and has been refused.
Property auctioneer John de Courcy confirmed this was the highest offer made, after a number of people viewed the Mulgrave Street residence in recent months.
“Nothing has been finalised yet, but the offers made are not enough. We thought there would be more interest in it,” said Mr de Courcy, who has had the property on his books for five years.
The house and site was originally valued at €1.4m, however just the property, rather than the extensive lands to the rear, are for sale at this time.
The house itself would have been valued at €350,000 during the height to the boom, but has now been written down to just €85,000 - a drop of 76 per cent.
It was for sale by tender until last Wednesday, but Mr de Courcy remains hopeful that it will be bought.