Over €25m spent at latest Allsop Space auction

Over €25m spent at latest Allsop Space auction

More than 1,100 bidders snapped up €25m worth of residential property at Thursday’s Allsop Space auction in the RDS.

Among the predominantly Irish investors attending the auction was a bidder who paid almost €1m over the guide price for a 36-unit student apartment complex near the University of Limerick.

Boasting an 82pc occupancy rate and rental income last year of €317,945, the anonymous investor paid €2.4m for the Troy student housing complex, just 1.5km from the UL campus. It was guiding at €1.6m to €1.7m.

A bidding war broke out among buyers vying for 11 units in the Cloon Lara estate in Mullingar, Co Westmeath. The successful bidder paid €978,000 for the lot, which was guiding at €800,000.

A 12-unit estate located near the Wild Atlantic Way tourist trail in Durrus, west Cork, near Bantry, fetched just €90,000 over its €200,000 guide price.

Allsop spokeswoman Maeve Whooley said properties that were already “tenanted” and those that can quickly be put on the rental market were attracting a lot of interest.

But a stunning five-bedroom mansion overlooking a ‘feature pond’ and complete with a 10-car garage, games room, gym and dog kennels set on three acres in Kilcock, Co Kildare, did not attract any bids, even though the opening bid was lowered to €675,000 from its guide price of €750,000.

You can view the full results on www.allsopspace.ie

Leave a Reply