RENTAL SECTOR SUFFERS BADLY IN MITCHELSTOWN
Nationwide the property sector continues to feel the effects of the economic downturn. With reports of more rental units (apartments, industrial and retail) vacant across the country and a 3% drop in rents, economists agree the industry is set to suffer further.
Nowhere is this more evident than in Mitchelstown where there has been an increase in the amount of property available in the rental sector.
The new 300,000sq.ft. commercial park at Coolnanave offers 10 buildings, an 80-room hotel, a car showroom and offices while the Sutton Court development at a prime location in the centre of the town incorporates both retail and housing accommodation. Both developments are, to a large degree, more or less empty.
Pat Landers of DNG Dorgan Landers Auctioneers told The Avondhu, “The commercial park at Coolnanave is a 20 acre site and there are a few units that have been taken but it is tough going with the way the economy is at the moment. The hotel and the car showroom are still vacant but we are hopeful for the future.
“The site isn’t finished yet but we are confident that we will see the Mitchelstown Business Park up and running. As for Sutton’s Court, the matter is in the hands of Cluid and Cork County Council. I have no update about this development or when we are likely to see the units occupied.”
The Cluid Housing Association along with the county council is responsible for the allocation and management of affordable and social housing. It is understood that Cluid have taken all the apartments and housing in the Sutton’s Court development to provide social and affordable housing in Mitchelstown. A spokesperson for Cluid was not available to comment as to when these units would be issued to people on their waiting list.
A spokesperson for Cork County Council confirmed that while there are people on the waiting list for housing in the North Cork area at the moment the council has houses under offer and available.
Thursday 20th November 5:45pm