Ballinamore in Co. Leitrim

[_Paul_]

Is there much going on in Ballinamore, Co Leitrim at the moment? In terms of commercial investment or investment in the town generally?

Is there much demand for the renting of terraced houses in Ballinamore? Would it be easy to rent out a terraced house, or is there not much demand?

Also, has anyone heard if any of the major food retailers, such as Lidl, Aldi or Tesco, are considering building a store in Ballinamore in Co. Leitrim?

Any info would be of interest...thanks!

 

[soma]

I wouldn't personally know any landlords with an interest in that part of the world, most of the ones I know haven't ventured past the midlands.

But if it were me I'd be concerned about an oversupply of housing stock in that county in particular. Please don't discuss the following link here on AAM, but there are some interesting stats on Letrim's current situation here: [broken link removed]

 

[ajapale]

Hi Paul,

As soma has pointed out there is plenty of "property sceptical" commentary at [broken link removed]and at the irish section of [broken link removed]

As regards future developments in Ballinamore in Co Leitrim have you had a look at the County Development Plan for Leitrim? You could also have a look a the local authority website. Do you know anyone who is lives in the town that you could ask? Are you in a position to visit and see for yourself?

aj

 

[auto320]

Ballinamore is not exactly prime investment territory, and rentals would not be great there. It might seem tempting to an investor with limited capital, but in these kinds of towns generally there is an unrealistic expectation by sellers about what their properties are worth, based mostly on what they see being achieved in better areas. In addition, the exit prospects are poor; you could wait years to offload such a property at even what you paid for it. Most locals prefer to buy a house with a bit of ground around it, and that's pretty much all that moves in the market.

If this ever changes and prices rebalance to a sane level in these secondary areas, you might see a revival of the markets there with outsiders moving there because they are cheap, creating a sort of revival of the fortunes of these towns. In the meantime, best advice is to avoid such markets. Sorry, Ballinamore!

Large multiples have target populations for stores, so many people within ten minutes driving etc., I don't think Ballinamore would be high on their list.