Chartered Surveyors group Eddisons made a highly successful first entry into the Irish auction market today when they sold all 11 lots at the Shelbourne Hotel – raising €1,585,000 in the process.
With the total number of properties having a reserve of €1.24m, all bar one sold above the reserve.
The undoubted success story of the day was the sale of Lot 7 – a tenanted unit at the City North Business Park in Stamullen, Co Meath – which sold for well over its €95,000 reserve at €210,000.
Another property to sell for double its reserve of €18,000 was Lot 9 – a four bed end of terrace house at 116 Dun na Hinse in Ennis Co Clare, which went for €36,500. Earlier, its neighbouring property – 115 Dun na Hinse – had sold for €8,000 above its reserve at €24,000.
The biggest sale of the day, however, was 16 St Mary’s Abbey in Dublin, which had a reserve of €375,000. The investment property, which includes two retail units and five overhead flats, sold in the end for €395,500.
A number of Dublin city centre properties also sold well.
Two properties at the Ivy Exchange in Granby Lane, Dublin 1 went for €173,000 and €198,000 respectively. 102 Jervis Place in Strand Street, Dublin 1 had a reserve of €89,500 but sold in the end for €111,000.
In nearby Dublin 7, 144 Blackhall Square in North Brunswick Street sold for €9,500 above its reserve at €69,000 while 155 North Circular Road, Dublin 7 – which is divided into seven flats with an annual rent return of €40,800 – sold for €253,500, well above its €220,000 reserve.
The final property to go under the hammer, Apartment 200, Richmond Court, Mount Kennett in Limerick also exceeded its €29,000 reserve when it sold for €35,500.
Indeed, the only property not to pass its reserve was the unit at 2A Ballyboggan Business Park in Glasnevin, Dublin 11, which went at the reserve for €79,000.
Eddisons are planning future auctions here in the New Year and will be suitably buoyed by their first entry to the market in Ireland.