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Allsop Space has announced details for their first property auction of 2012, which is to feature 100 lots comprising 74 residential houses and apartments and 26 land lots and commercial properties.

The auction will take place on Thursday, 1st March in the Shelbourne Hotel, Dublin.

No longer considered a ‘distressed sale’, one third of the March catalogue is being sold on behalf of private individuals who wish to avail of the smooth and efficient process, providing certainty and true price discovery, in an otherwise challenged market.

Allsop Space, the leading property auctioneers in Ireland held 4 sales in 2011 achieving an overall success rate of 92% raising over €52 Million.

Steve McCarthy, Director of Allsop Space commented “Multiple lot auction sales, introduced to Ireland by Allsop Space have changed the way in which property is transacted in the Republic of Ireland. The method is a proven route to market, which through our global marketing campaigns and competitive and transparent bidding realises the real value of property on the day. 2012 will be a telling year for the property market and we plan to feature four further sales and offer more lots in each sale.”

Under existing legislation (Data Protection Act) in the Republic of Ireland sales prices may not be publicly disclosed without the consent of both vendor and purchaser, the only exception being auction results. In the absence of a public register of prices, it has been almost impossible to value Irish property accurately. Price movements, for example, have been expressed by reference to asking prices which can only ever indicate sellers’ aspirations. Our public auction sales however are totally transparent and have established a valuable register of transactional evidence.

Gary Murphy, Auctioneer and Director of Allsop Space comments “The amount of both domestic and international interest we have had in the sales to date has been unprecedented and proves there is still a very healthy appetite for property in Ireland. This catalogue represents some really high quality stock with real investment potential.”

Notable residential lots which will appeal to overseas buyers include:

Lot 67

The Watermill, Rathvilly, Co. Carlow
A picturesque freehold listed period mill residence building with Mill Race and Mill Wheel
Site extending to Approximately 3.11 Acres
Views over the River Slaney
RESERVE NOT TO EXCEED  €150,000

Lot 39
Sandhouse Hotel, Rossnowlagh, Donegal Bay, Co. Donegal
A Part Freehold and Part Leasehold Fifty Five Bedroom Hotel on a Site extending to Approximately 3.21 Acres with Planning Permission for Sixteen Apartments
RESERVE NOT TO EXCEED  €650,000

Lot 78
‘The Spire’, Duleek, Church Lane, Co. Meath
A Freehold Former Church previously used as a Restaurant
RESERVE NOT TO EXCEED  €60,000

Lot 54
Dublin 1, 41 Seville Place
A Freehold Mid Terrace Four Bedroom House located in the heart of Dublin.
RESERVE NOT TO EXCEED  €35,000

Lot 34
Dublin 6, 276/278 Harold’s Cross Road
Freehold Mid Terrace Building arranged to provide Six Apartments and Two Retail Units
Rent received: €75,600 per annum
RESERVE NOT TO EXCEED  €595,000  (Yield 12.7% with a vacant commercial unit)


Notes to editor

Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house.  Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.

Contact

To arrange an interview or for the supply high resolution images or further information please contact Anna Jones
Anna.Jones@allsop.co.uk
020 7543 6728