Following on from yesterdays post where we included a downloadable listing of all properties in the forthcoming Allsop Space Irish property auction on the 1st March (http://181.224.152.131/~hearmero/buyersbroker.ie/blog/2013/02/catalogue-for-allsop-space-property-auction-shelbourne-hotel-1sts-march-2013/), it is worth noting that, as a general rule, prices achieved at auction tend to exceed the maximum reserve price by 30% on average.  As this is an average figure, obviously some properties barely make the reserve price (very few sell below, the maximum reserve price tends to be the actual reserve price for many) while others may double from expectations.

 

With the unfinished or ghost estates, of which there are two in this auction, the prices are more difficult to gauge but I would expect a scheme such as lot 59, a freehold development of 9 houses plus sites totaling  8.5 acres to make in or around the €200,000  – €250,000 price range.  This is an off-the-cuff expectation rather than a valuation, based on previous auctions.  If you are intending to bid, I would strongly recommend that you have  full legal title review and check what liabilities (bonds/contributions to local authorities etc) are outstanding.

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