Over €12m raised at Allsop Space auction

Over €12m raised at Allsop Space auction

Just over €12.1m was raised at today’s Allsop Space auction in the Shelbourne Hotel in Dublin.

A total of 125 lots were registered for the second auction of the year with 96 selling on the day for a sum total of €12,105,500. Two further lots sold prior to auction.

The biggest sale of the day was McDaniel’s Pub in Brittas Bay, Co Wicklow, which sold for €755,000 – €80,000 above its reserve.

Other notable sales were the €440,000 achieved for the Riverside Suites Hotel in Millbrook, Co Sligo – €295,000 above its reserve – and the €420,000 that was paid for 10 North Circular Road in Dublin 7 – €100,000 above its reserve.

The sale of the Riverside Suites was the second largest percentage sale above its reserve at 203.5%, just behind a house and lands at Meelaguleen, Ballinskelligs, Co Kerry, which sold for €207,500, 219.2% above its €65,000 reserve.

In total 18 lots failed to sell on the day, with nine being withdrawn from sale.

Amongst the properties that failed to sell were 11 retail units at the Finglas Shopping Centre in Dublin, which had a reserve of €1.3m and a unit in the Market Cross Shopping Centre in Kilkenny, which had a reserve of €625,000. The fact that these types of properties failed to sell meant that the yield was 31.3% below the total reserve amount of almost €18m.

Full results can be found here.

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