Former Buncrana HSE building sells for €475,000 - over five times its guided price

A well-known property in Buncrana has turned a new page, as the former HSE-owned building at Lisfannon Industrial Estate sold for almost half a million euro in a recent nationwide auction.

Originally guided at just €85,000, the property’s final sale price of nearly €475,000 surprised many — a sign, perhaps, of growing investor confidence in Donegal’s northwest corridor. 

Interest in the property was low to start with when it was listed for auction by  O’Donnellan & Joyce, but come auction day, the Buncrana premises had attracted huge interest as 24 bidders battled it out for the property that rose by nearly six times from its guided value.

A spokesperson for O’Donnellan & Joyce said it could not reveal the identity of the new owner when contacted. 

Once home to a thriving local cheese production facility, the property has long stood as part of the area’s industrial landscape — a reminder of both Buncrana’s manufacturing past and its potential for future enterprise.

Measuring approximately 224 square metres and believed to date from the late 1970s or early 1980s, the building occupies a prime position within the established IDA Industrial Park — just two miles south of Buncrana and twelve miles from Derry City, it represents both heritage and opportunity for future investment for the new owners.

Though time has left its mark — with weathered blockwork, a deteriorating roof, and vegetation reclaiming parts of the yard — the property’s solid structure and strategic location offers scope for renewal as commercial or light industrial space, or potential redevelopment, subject to planning.

Ahead of the Auction, Auctioneer Colm O’Donnellan described the sale as part of a wider story of regeneration.

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“Across the country, we’re seeing former State-owned and community buildings finding new life. These properties often have strong local connections and great potential; they’re ready to serve their communities again in a new way.”

The sale on Friday, October 24, was part of O’Donnellan & Joyce’s live-stream auction, which featured properties from across Ireland and attracted interest from bidders both at home and abroad.