The latest offering from Allsop Space
Auction giants, Allsop Space have just confirmed the line-up for their next Irish property auction taking place at The Shelbourne Hotel, Dublin on Friday 1st March 2013. This will be the tenth multi-lot auction by the company since their entry into the Irish market in April 2011.
With a total sales tally of €122 million under their belt, it is difficult to say whether Allsop Space responded to a previously unmet need in the marketplace, or whether they have created this new market. What we do know is that their winning formulae is boosting regional sales and driving investors back into the domestic market. The latest catalogue includes a mix of residential, commercial and land totalling 155 lots. It is the company’s largest undertaking in Ireland so far, and with an overall success rate of 93 percent, this should boost the second quarter results after a slow start to the year.
As expected, there are pre-63 buildings available throughout the capital and intending bidders will need to acquaint themselves with the new building regulations, which came inst force on the 1st February 2013. While the familiar properties in The Tannery or on James Street appear on the listing, there are a few surprises. Interesting lots include a 41 bedroom hotel in Kilkee, County Clare which carries a maximum reserve price of €315,000 – similar to the value of a 4 bedroom house in the same area just five years ago, and the old convent in Eyrecourt will delight Galway investors with a reserve price of just €275,000 for the Georgian house and restored outbuildings.
No auction line-up would be complete without an entire development, which epitomises our current position in this boom bust cycle, and this latest offering does not disappoint. Developers will be watching the two freehold buildings at Innis Temple, Kinlough, County Leitrim consisting of ten residential units for the reserve price of €250,000 or perhaps the eleven bedroom, detached building at Beechbrook Lodge, Kilteel Road in Rathcoole with the temptingly low reserve price of €150,000.
The star of the show might just be 20 Herbert Street, in Dublin 2 (despite the Savills website showing this property as sold) . This partly refurbished, mid-terrace Georgian building boasts 3,733 sq ft of accommodation in a great location with a stated maximum reserve price of €560,000.