Almost €12.7 million raised at Allsop Space auction

Almost €12.7 million raised at Allsop Space auction

Today’s Allsop Space auction in the Shelbourne Hotel proved another huge success, with €12,699,000 raised throughout the day from 87 sales.

In total, €465,500 was raised over the reserve mark with an 82.1% success rate.

On the day, nine properties were withdrawn while 10 were not sold.

Amongst the highlights on the day was the sale of Lot 74 an unfinished housing estate in Co Cavan for €122,500 – selling for more than three times its reserve of €40,000.

Other notable sales included two adjoining properties in Nun’s Island in Galway, which sold for €153,000 and €159,000 respectively – well above their €50,000 reserve.

Pubs The Coolgreaney Inn in Wexford (€220,000) and Weir’s in Dun Laoghaire (€450,000) both sold for their reserve price, as did an industrial unit in the Cookstown Industrial Estate in Tallaght (€500,000) and a unit in the John F Kennedy Industrial Estate (€590,000).

There was greater success in the sale off a filling station on the Castlebar Road in Mayo, which sold for €525,000 – €200,000 above its reserve – and in the sale of units in Drogheda Mall, Finglas, which went for more than double their reserve price at €181,000.

All of the properties in the popular Castleforbes development in Upper Mayor Street in Dublin sold for above their reserve price bar Lot 96, which had to be re-offered while another popular sale in the capital involved Lot 37 on 84 Clonkeen Road, which sold for €385,000 – €135,000 above its reserve of quarter of a million euro.

Undoubtedly the biggest highlight though was the sale of Darby O’Gill’s Hotel in Killarney, Co Kerry, which sold for €220,000 above its reserve price at €735,000.

In total 72 properties sold for above their reserve price, with just one below it. managing director Angela Keegan said the level of genuine interest in today’s auction was impressive.

“Today’s auction showed that these type of events are no longer a spectacle. This time last year when the first Allsop auction was held it was a media circus and really captured the public’s imagination but the fact it was all business this time around shows that it has become part of the normal fabric of the Irish property market.

“I welcome auctions of this nature though as transactions are what the market needs and 87 on one day can only be viewed as a positive,” she said.

The next Allsop Space auction takes place on Friday July 6th.

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