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Allsop Space has announced details their final property auction of 2011, which is to feature the largest number of property at auction in Irish History.

The fourth Allsop Space auction of 2011 will feature a massive 112 lots and will take place on Wednesday, 30 November in the Shelbourne Hotel, Dublin.

According to Director of Allsop Space, Stephen McCarthy, “The November auction will pave the way for 2012. We plan to feature more lots at each individual auction next year. The figures from our last auction speak for themselves. €10 million was realized. Over 80% of those buying at auction are without bank finance which highlights that there are still plenty of domestic and overseas buyers in a position to invest in property in Ireland.”

Mr McCarthy continues “Interestingly, almost a third of purchasers were owner occupiers, demonstrating that the current market is not just for the investor. These auctions can only help stimulate the market and encourage property transactions again.”

The bumper November auction is to feature a mix of Dublin and countrywide residential and commercial properties – The property mix is likely to appeal to all types of buyer, including first-time buyers, those trading up or down, and investors, both domestic and international.

Gary Murphy, Auctioneer and Director of Allsop Space comments “We believe that large scale public auctions will continue to play an important part in the changing Iandscape of Irish property transactions. “

Mr Murphy continued “The transparency of the method has become widely appreciated since our inaugural sale in April this year. Allsop Space is rapidly establishing a public data bank of real sales evidence. In the absence of a national sales registry, this information is becoming increasingly important to home owners and property professionals. Rental yields can now be usefully calculated using prices paid. For the first time, prospective investors are able to make informed buying decisions and to monitor and assess the relative performance of different properties and alternative asset classes.”

Notable residential lots which will appeal to overseas buyers include:

Lot 110 Shercock 16 Lough Sillan Lodge, Co. Cavan 
A freehold detached four bedroom house with access to Tennis Court and Marina with Slipway.
RESERVE PRICE NOT TO EXCEED
€50,000

Lot 77 16 Harbour View, Tarmon Harbour, Termonbarry
A freehold end terrace house with marina views, to be sold with a leasehold marina berth.  RESERVE PRICE NOT TO EXCEED
€90,000 

Lot 2, Number 5 The Corn Exchange Dublin 2 
An unusual 2 bedroom duplex apartment in a converted bank overlooking the Liffey
RESERVE PRICE NOT TO EXCEED
€120,000

Combined Reserves:
€10.4 million

Most Expensive Lot:
174 Pembroke Road, Ballsbridge, Dublin 4.
Mid terraced building arranged to provide two restaurant premises.
Reserve not to Exceed: €475,000

Least Expensive Lot:
0.05 Acre Site at Childers Road, Ennis, Co. Clare.
Reserve not to Exceed: €7,500

Most Expensive House:
13 Garville Road, Rathgar, Dublin 6
End of terrace period house in 8 residential units.
Reserve not to Exceed: €420,000

Least Expensive House:
53 Beechwood Park, Convoy, Co. Donegal
Three bedroom semi-detached house
Reserve not to Exceed: €21,000

Least Expensive Apartment:
Apartment 31 Harbour Court, Mullingar, Westmeath
Two bedroom apartment with €5,100 per annum income
Reserve not to Exceed: €25,000

The Allsop Space Property Auction will take place on Wednesday 30 November at the Shelbourne Hotel. The catalogue is available from tomorrow, Wednesday, 9 November at www.allsopireland.ie or by calling the Allsop Space catalogue line on 1590 415 845 or texting auction to 57800 (ROI).

Allsop Space are also taking the opportunity to announce a commitment to five auctions in 2012, the first of which will take place in March. For the year to date, Allsop Space have sold 214 out of 231 lots achieving a success rate of 92.6% raising a total of €40 million.

To view the catalogue please got to www.allsopireland.ie


Notes to editor

Allsop Space is a property auction partnership between Allsop, the UK’s most successful property auctioneer and Space, a Dublin based property consultancy. The partnership provides a leading property auction service for distressed and private property across the Republic of Ireland with an average success rate to date of 92.6%.

 

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