A Galway city housing estate that would have sold for millions in the boom has sparked huge interest after going on the market for just €1.4m.

The 14 townhouses in the gated estate of Bun na Leaca in the city could once have commanded up to up €700,000 each.

Now, under the control of NAMA, they are set to sell in one lot for an asking price of €1.4m, which would have covered just two of the units when they first came on the market.

The massive price drop in the price of the estate has seen 11 interested parties submit tenders, many of whom outbid the €1.4m guide price.

Noel Browne of O'Donnellan and Joyce Auctioneers say there’s great interest in the sale.

The 14 terraced and semi-detached houses are located on Newcastle Road directly across from the gates of NUI Galway.

There located on an enclosed private site. None of the newly developed homes has been occupied.

They were first launched on the market in July 2007 by builders the Fitzgerald Group from Gort.

Now in the hands of NAMA, eight of the properties will require just a final fit-out, while the remaining six will each require a spend of around €30,000 to complete.