Oldcastle home-owner innovates with unique selling proposition

As developers in Dublin such as Bernard McNamara and Glenkerrin come up with alternative methods of selling developments and offering interest free loans, an Oldcastle vendor has also come up with a unique way of selling a house in these straitened economic times. "Three Steps" at Moylagh, Oldcastle, is for sale with local auctioneers Sherry Fitzgerald Farrelly, but the owner has come up with a unique marketing innovation. The vendor is providing an opportunity to purchase the property on a "phased annual payment basis" over an agreed number of years. The present owner says he of the payment of a substantial deposit and balance payable over agreed period of years. The asking price for "Three Steps" in Loughcrew is €900,000, with a deposit of €200,000 required and the balance payable over an agreed period, possibly on a yearly basis. 'It"s certainly a different way to sell,' Gerard Farrelly of Sherry Fitzgerald Farrelly explained, adding that if anybody wanted to purchase the house in the conventional way, with a mortgage, the asking price would be €850,000. Mr Farrelly described "Three Steps" as a uniquely designed luxury home in a breathtaking location on elevated private grounds, set in a field of wild flowers, with beautiful views east to Loughcrew, in the midst of numerous recreational and tourist attractions. The ground floor consists of a reception hall, guest wc, an open living room full of light, with a feature fireplace and French doors to the grounds. There is an adjoining dining room, L-shaped kitchen, bright spacious sunroom, and a corridor from the reception area to three bedrooms and bathroom. On the first floor are two bedrooms, a bathroom, and hotpress. Attic space over the first floor houses a bathroom, and there is also attic room over the ground floor bedrooms of 40 square metres, while there is attic space over the kitchen area of 10 square metres. The residence is approached by an impressive entrance with stone piers, electric gates and winding gravelled driveway. The grounds on 1.3 acres are interspersed with an array of trees and shrubs there is a paved sun patio and also an orchard with 50 various fruit trees. Meanwhile, the Construction Industry Federation (CIF) has launched a nationwide roadshow of presentations for CIF member companies entitled "Preserving Profitability in a Downturn". The nationwide series will visit Meath today (Wednesday) with a seminar in Ashbourne House Hotel, Ashbourne, at 3pm, and will be run in conjunction with Baker Tilly Ryan Glennon, Business Partners and Accountants. The seminars are being run to address problems that CIF member companies are experiencing in their dealings with third parties, including Revenue and the banks, and related issues, such as conserving cash, liquidity, director duties and ultimately achieving work-out solutions. Tom Parlon, CIF director-general, said: 'In response to member demand, we hosted a similar briefing in Dublin in late July, and even though it was during the builders" holidays, in excess of 100 CIF member companies attended. I"ll be taking the opportunity to meet with CIF members from throughout Meath and the north-east and hear from them the situation on the ground. 'Many CIF members have spoken to me and my colleagues about their problems in dealing with banks and other third parties and the huge challenges that are faced in the current economic climate. In response to this, I have engaged with Baker Tilly Ryan Glennon with a view to allowing CIF members access their particular experience on these issues.'