Limerick mansion fails to sell for €450k at auction

Anne Sheridan

Reporter:

Anne Sheridan

In need of refurbishment: Ashroe House in Murroe has come down in price
A SIX-bed mansion in Murroe failed to sell at an auction in Dublin this week, after it went under the hammer for a reserve of €450,000.

A SIX-bed mansion in Murroe failed to sell at an auction in Dublin this week, after it went under the hammer for a reserve of €450,000.

Set on 51 acres, Ashroe House, which has six bedrooms and four bathrooms, was earlier listed for sale for €650,000, and failed to attract the right buyer in spite of nearly a third of its price being shaved off.

It was one of seven Limerick properties up for sale this Wednesday in the latest Allsop Space quickfire auction of distressed properties.

The Triple Crown pub in Athlunkard Street in the city also failed to sell, after being put up with a reserve of €125,000.

It is available through the receiver KPMG, with a long leasehold of 999 years.

Six four-bedroom “investment” apartments in City Campus, Lord Edward Street, were sold on the instructions of the receiver Grant Thornton.

With a reserve of €150,000, the apartments fetched €235,000 - €85,000 above reserve - among intense bidding in the Shelbourne hotel in Dublin.

The apartments were formerly the assets of Chieftain Construction, which went into receivership in February 2011.

A house on the Old Cork Road - no. 85 Derrynane - which previously failed to sell for a reserve of €75,000 in an earlier auction, this time made €90,000, after it was put up for a more modest €55,000.

Next door, no. 86 Derrynane, also had more success this time round, selling for €82,500.

An industrial unit in the Eastway Business Park, Ballysimon Road, had a reserve of €40,000, and sold for €72,500.

A site in Shanbally, Abbeyfeale, on nearly nine acres, made €127,500 - €57,500 above its reserve of €70,000. It includes planning permission for eight detached dwellings and garages.

Of the 127 lots for sale throughout the country, 10 were withdrawn from the sale, with some sold prior and after the auction.

A further 18 failed to sell and there were 98 successful sales during the auction. In all it raised a total of €12,105,500.