€48m in sales recorded at Allsop Space auction

€48m in sales recorded at Allsop Space auction

Over 150 properties were snapped up at a combined total of €48 million at the latest Allsop Space property auction in the RDS yesterday.

Over 1,000 people, including high-profile publican Charlie Chawke, attended the auction in the RDS. The auction featured 175 properties divided 50:50 between distressed properties being sold on the orders of a bank or receiver and private sales.

Ten properties sold for more than €1m each.

A Temple Bar property that’s home to Sin nightclub as well as eight high-spec apartments, fetched the biggest price of the day, at €2.35m, to an unknown bidder, while a block of six two-bed flats in leafy Dublin 6 sold for €1.9m.

A nine-bed former B&B with a four-bed home in its grounds, situated just outside the tourist town of Ballyvaughan, in Co Clare, sold for €150,000, while a derelict mill plus former garda barracks on five acres of land beside the River Shannon fetched €62,500.

A Victorian mansion on 30 acres in Killala, Co Mayo, went for €765,000 – around €200,000 more than its reserve, while a four-bed semi in Tuam, Co Galway, fetched €41,000.

Walter’s Cafe Bar in Dun Laoghaire, which closed suddenly recently, went under the hammer for €800,000.

Industrial lots fetched some of the biggest prices of the day, with two warehouses in Airways Industrial Estate, in north Dublin, fetching €1.57m each, while 17 retail units at Swords Town Centre went for €1.9m. Allsop Space director of auctions Robert Hoban said 156 properties of the 175 on offer had sold for a total of €48m.

Big premiums had been achieved on all the €1m plus properties, which could be related to changes to the Capital Gains Tax regime next year.

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