A fifteenth century castle, a prestigious Georgian townhouse and an entire housing estate are just some of the highlights in the latest property catalogue released by Irish auctioneers Allsop Space.
90 lots comprising of 69 residential and 21 commercial properties and sites will be offered on the 6th July at the Shelbourne Hotel, Dublin.
The rare chance to own a part of Georgian Dublin in the core of what is considered to be the best preserved section of this era will be going under the hammer on the 6th July. 26 Merrion Square in Dublin’s city centre is to be offered with a reserve not exceeding €1 Million. Merrion Square has been home to many of Dublin’s leading historic residents including Oscar Wilde and his parents. The prime freehold mid terrace Georgian townhouse overlooks the famous park, known as Dublin’s finest surviving Georgian square. Neighbours include the Houses of Parliament (Leinster House), the National Gallery and the National Museum. Very few sales have transacted in prime Georgian Dublin since the collapse of the property market, so this sale will be closely monitored as a benchmark for similar properties in the area.
The White Castle in County Kildare will be offered on the day with a reserve no greater than €50,000. The freehold historic building is a truly distinctive property and will be sold with vacant possession. Built in 1417 by Sir John Talbot, Viceroy of Ireland to protect the bridge over the River Barrow the castle is steeped in history and has the potential to become a unique home.
An entire housing development in Castlemaine, County Kerry is expected to attract attention from home and abroad. The site consists of 14 houses built to shell condition, on 3.03 acres with lapsed planning permission for 9 apartments, a 12 bedroom hotel and 2 retail units. The reserve will be set no higher than €50,000.
Robert Hoban, Director of Allsop Space commented “We are very excited about the mix of properties offered in this catalogue. Ireland continues to attract opportunistic foreign investment as Stamp duty in Ireland is currently at 1% on properties up to €1 million (£882,000) and 2% for more expensive properties. Values in Ireland have been estimated to have fallen between 60 – 70% from the peak, depending on location. Recent government investment incentives include a protection from capital gains tax on any rise in capital value for the next 7 years. In our catalogue, we have endeavoured to offer property that is deemed to provide investment opportunities for all types of buyers and budgets, with double figure yields on offer for many of the tenanted lots.”
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 true value of property on the day. 2012 will be a telling year for the property market and we plan to feature two further sales this year.
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.Other notable lots include a 3 bedroom duplex penthouse apartment in the heart of Dublin with a reserve not to exceed €160,000 and a 20 bedroom hotel in Wexford with a reserve not to exceed €230,000
Notes to editor
About Allsop Space
Allsop Space Ltd is an Irish property auction company – a 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 across the Republic of Ireland with an average success rate to date of 92%.
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