Over €14m raised at Allsop auction

Over €14m raised at Allsop auction

Over €14m was raised from the largest ever property auction in Ireland at today’s Allsop Space auction in the Shelbourne Hotel.

While a larger amount of properties than normal went unsold or were withdrawn, the yield still amounted to Allsop’s second best ever figure in terms of revenue raised from a sale.

On the day 112 of the 156 lots sold under the hammer, 92 of which were above the reserve, 15 of which were at the reserve price and five which were below the reserve.

That amounted to sales of just over €13m but three further sales after auction brought the total up to €14,256,000 with there still hope that further properties could also sell. A total of 18 properties were withdrawn either on the day or beforehand while 23 failed to sell.

Some of the lots not to sell included high profile units such as the Kilkee Bay Hotel in Co Clare and JC’s Bar and Nightclub in Clifden, Co Galway.

Amongst the most notable sales was a ghost estate in Cavan for €210,000, the Munster Rugby Store in Cork for €295,000 and the former home of ballad singer Roger Whittaker in Galway for €10,000 above its reserve at €285,000.

The largest sale of the day saw a Georgian house in Herbert Street, Dublin 2, sell for €640,000 – €80,000 above reserve.

The most expensive lot up for sale with a reserve of €895,000 was a 5,335 sq metre industrial unit on the Airways industrial estate in Santry, Dublin but it failed to sell.

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