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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.

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.

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