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Allsop Space has released property details for their May auction scheduled to take place on Thursday 3rd May in the Shelbourne Hotel, Dublin. 106 lots are to be sold and comprise of 42 houses; 38 apartments and 26 commercial lots.  The Dublin / regional breakdown is 39 Dublin and 67 regional lots. A massive 50% of the lots are tenanted and income producing.

Stamp duty in Ireland is currently at 1% on properties up to €1 million (£882,000) and 2% for more expensive properties and values have been estimated to have fallen by 68% from the peak. Worldwide interest in the catalogue is expected particularly from Asia and the UK. International buyers seeking investment opportunities and holiday homes are anticipated to be bidding on the day.

The March auction saw a success rate of 95% realising €12.7 million with a Donegal hotel having been a key focus of interest having sold for just €650K.

These multi lot auction sales are the first of their kind in Ireland, with an overall success rate of 93% and with existing legislation still preventing transparency in the property market, they are a proven method of sale. With each catalogue produced increasing numbers of private sellers are opting to sell through auction. The process allows global exposure and competitive and transparent bidding realising the real value of property on the day.

Robert Hoban, Director of Auctions of Allsop Space “This auction will have a broad appeal to a mix of buyers, ranging from owner occupiers to investors, and young professionals to ‘trader-downers’. We think it is a hugely positive sign to see such a large increase in the number of non-distressed private sellers entering the auction, and availing of the open marketplace. Once again, we expect to see healthy interest from overseas, as in previous auctions.”

Notable lots include:

Lot

Address

14 x Apartments at Castleforbes Square

Dublin 1

  • Selection of 2 and 3 bed apartments
  • All tenanted
  • Income from €13,200 to €16,800

Reserves not to Exceed: €140,000 and €185,000

99 & 100

10 & 11 Tulfarris Village

Blessington, Co. Wicklow

  • 2 x vacant mid-terraced houses
  • Three bedrooms
  • Situated within the Tulfarris Hotel and Golf Resort
  • Lakeside development

Reserves not to Exceed: €75,000 each

92

17 Lough Sillan Lodge

Shercock, Co. Cavan

  • Freehold detached 4 bedroom house
  • Within lakeside development
  • Access to marina and tennis court

Reserve not to Exceed: €95,000

30

Unit 4, Cookstown Industrial Estate

Tallaght, Dublin 24

  • Detached former car showroom facility
  • On 2 acres
  • 26,792 sq ft
  • Showroom, warehouse, workshop, offices
  • Reserve not to Exceed: €500,000

The largest lot:  Lot 47, Unit 39, John F. Kennedy Industrial Estate, Naas Road which is a detached industrial facility with a reserve not to exceed €590K.

The smallest lot: Lot 93, a one acre site at Beechwood Park, Convoy, Co Donegal with a reserve not to exceed €5K.

Ends


Notes to editor

Notes to Editor

About Allsop Space

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 93%.

The Allsop Space Property Auction will take place on Thursday, 3 May at the Shelbourne Hotel from 11am.  The catalogue is available online.

www.allsopireland.ie

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