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  • €13.8 million raised at Allsop Space auction
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Dec 4, 2012 - 17:10

€13.8 million raised at Allsop Space auction

The MyHome Newsdesk
By The MyHome Newsdesk
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€13.8 million raised at Allsop Space auction

Just under €13.8 million was raised at the latest Allsop Space auction at the Shelbourne Hotel today.

In what was the fifth and final auction of 2012, transactions amounted to €13,772,500. While that was almost €4 million down on the company’s last Irish auction, it was still their second best figure of the year, even if it was just 1.95% or €264,000 above the total reserve amount.

A total of 90 properties sold on the day, 76 of which were above reserve. A higher total than normal of 14 were not sold, while five were withdrawn.

The latest sale brings to just under €68 million the amount of property Allsop Space have sold in Ireland this year, easily surpassing last year’s total of €52.4 million.

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The biggest seller of the day was an entire shopping street – Market Place, Clonmel, Co Tipperary – which sold for €920,000 (€20,000 above reserve) when it was auctioned in one lot.

Another property to bring in a huge price was Olympia House in Dame Street, Dublin 2, which sold for almost double its €380,000 reserve at €730,000.

Other big sellers on the day were The Step Inn Stores in Dublin 18, which sold for €555,000 and 47 Leinster Road in Rathmines, Dublin 6, which went for €530,000.

Some of the major success stories include a building in Main Street, Buttevant, Co Cork which sold for 242% or €170,000 above its reserve at €240,000 and the Blackwater Mill on the Kells Road in Navan, Co Meath, which went for 355% above its €50,000 reserve for €227,500.

There was shock and awe in the Shelbourne Hotel, however, when Dartmouth Square – which had attracted the most media attention before the auction – failed to attract a single bid. It is expected it will be sold by private treaty, however, possibly as soon as later today.

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The dates for the 2013 Allsop Space auctions will be released shortly.

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  • Tags
  • Allsop
  • Allsop Space
  • auction
  • Shelbourne Hotel
The MyHome Newsdesk
By The MyHome Newsdesk
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