Only one apartment in Limerick city sells at auction

Anne Sheridan

Reporter:

Anne Sheridan

IN ONE of the worse records for property in the city, six Limerick properties failed to sell at auction in Dublin after failing to meet their reserve prices.

IN ONE of the worse records for property in the city, six Limerick properties failed to sell at auction in Dublin after failing to meet their reserve prices.

In the latest Allsop Space distressed auction, four properties on the Old Cork Road failed to attract the right buyer. They include two three-bedroom and two four-bed semi-detached houses, with asking prices of €45,000 and €75,000 respectively.

Lot 32 - a four-bed detached house at 12 Ard Aulin, Mungret - also failed to sell. There was a single bid of €175,000 - €20,000 under the reserve for the property which was put up for sale on the instructions of receiver KPMG.

A regular feature in previous auctions, another three-bedroom semi-detached house in Caislean Na hAbhainn, Castletroy, was on offer but it too failed to meet its reserve of €85,000.

A cold storage unit in Annacotty Business Park sold for €60,000 - €15,000 above it reserve - on the instructions of the receiver. This was the second time the unit had been put up for sale, down from €75,000.

A two-bedroom apartment in Glenlara House, Mount Kenneth Place, was the only apartment in the city to sell, receiving €39,000, which was above its reserve of €27,500. A site in Longpavement was withdrawn prior to the sale.

Less than 150 lots comprising of apartments, houses, retail units and hotels were up for sale in the tenth Allsop Space auction. The Kilkee Bay hotel, a 41-bedroom property, which had a guide price of €315,000, also failed to meet that figure.

However, the 27-bed Ashford Court hotel on the Old Mill Road in Ennis sold for €305,000 - €90,000 above the reserve.

The Great Gas filling station and shop in Garrienderk, on the main Kilmallock to Charleville Road, did not meet the reserve of €125,000.