[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Monday, 11 September 2006, 12:55 GMT 13:55 UK
1.85m home 'may be knocked down'
House in Warrenpoint
The house is set in 0.62 acres of land
House prices in the Newry and Mourne area have reached an all-time high after a shorefront house in Warrenpoint was sold at auction for 1.85m.

However, the estate agent who sold the house, Garry Best, believes the new owner may demolish it and build a new one on the site.

Mr Best said: "There's a strong likeliehood they will knock it down.

"I imagine a new owner would spend between 350,000 and 500,000 building a new property there."

The two-storey house, on a 0.64 acre site with uninterrupted views of Carlingford Lough, was bought on Friday by a Dublin businessman.

Mr Best said the area was one of "amazing" natural beauty and was therefore a very sought after location.

Bedroom
A bedroom of the house overlooking Carlingford Lough

"This particular site has a great shape and fantastic elevation, which gives an amazing view of Carlingford Lough," he said.

"The guide price of the property was 1.15m, and with a large attendance at the auction, I had a feeling that it would generate a high figure."

He said most viewers at the auction were of the opinion that they would knock the house down.


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific