EIGHT properties in Limerick sold for above their reserve price at the Allsop Space auction in Dublin, while a series of buildings in the city and county were withdrawn before they had a chance to go under the hammer.
The latest quick-fire sale of ‘distressed assets’ realised €17.8m, and it seems the Irish appetite for property is still insatiable in some quarters, with 2,700 people attending throughout the day in the Shelbourne hotel.
Wth 127 lots featured, this was Allsop’s largest auction to date, with eight withdrawn before the sale.
Three buildings on Parnell Street in Limerick were withdrawn prior to the auction.
A two storey pharmacy and retail unit on the Main Street in Glin, county Limerick, was also withdrawn prior to the sale.
The former Esso site on Mulgrave Street sold for €81,000, €6,000 above its reserve
An apartment in Mahon House, William Street, went for €60,000, €25,000 above its reserve.
A three bed end of terrace house on Bourke Avenue, Edward Street sold for €42,000, €12,000 above its reserve
Five properties in Mayorstone Court, Old Cratloe Road, went under the hammer, and each fetched well above their asking prices.
No 3 Mayorstone Court, Old Cratloe Road, sold for €103,000 (reserve €35,000); 116 Mayorstone Avenue went for €117,500, (€27,500 above reserve); 1 Mayorstone Court, went for €90,000, more than twice its reserve of €35,000; 4 Mayorstone Court, went for €106,000 and 2 Mayorstone Court, went for €73,000 (both had a reserve of €35,000)
The Imperial House in Charleville, county Cork, which had a reserve of €400,000 went for €63,000 in excess of that.
One property in Ballsbridge sold for €685,000 - making a profit of €135,000 on its sale three months ago. The most expensive was a Georgian office building and mews in Leeson Close, which fetched €1.1m. The next auction will take place on the December 4.