Auction specialists Allsop Space have reported profits of €300,000 for their first year operating in Ireland.
Accounts filed with the Companies Office show Dublin-based Allsop Space Ltd had profits of €307,011 in the 12 months to the end of March 31, 2012. The firm’s cash at that time stood at €343,484.
Allsop Space held their first auction in Ireland in the Shelbourne Hotel in April 2011. Since then over 900 properties have been sold at 10 auctions.
The firm is a 50/50 venture between UK auctioneering house Allsop and Dublin-based property consultants Space.
Allsop Space director of auctions Robert Hoban confirmed yesterday that the business has sold €136m in property since its first auction.
“It has been a very, very hectic two years. We started with a relatively small company to employing 15 full-time today and we are recruiting,” he said.