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Limerick properties fail to sell at auction

Three houses in Bruach na Sionna, Castleconnell failed to sell at the Allsop Space auction

Three houses in Bruach na Sionna, Castleconnell failed to sell at the Allsop Space auction

 

FIVE properties in Limerick and the surrounding areas in the Mid-West were unsold at the latest Allsop Space property auction.

In all, 183 apartments, houses, offices, sites and investment opportunities went under the hammer at the auction.

However, the majority of the Limerick lots failed to sell on the day.

Among them were lot number 137, an “investment” house in Castleconnell which attracted a bid of €60,000, but failed to meet its reserve of €75,000.

Two other three-bedroom, mid-terrace properties in Bruach na Sionna, Castleconnell, just off the main street, also failed to sell.

A duplex, two-bed apartment in Limerick city - No 8 Steamboat Quay - which had a reserve of just €30,000, made nearly twice that, fetching €59,000.

Another apartment in Limerick - Apt 32 Block B, Parkville Court, on the Dublin Road - sold for €62,500 - some €12,500 above its reserve.

A semi-detached, four-bed house on the Shannon Road in Sixmilebridge sold for €140,000 - €55,000 above its reserve of €85,000. Three warehouse units on a 6.5 acre site in Portdrine Development Park, Portdrine, Cratloe, sold for €145,000 - over €35,000 above its reserve. A shopping centre in Nenagh, which had a guide price of €750,000, also failed to attract a bidder.

In total, the properties up for sale for a combined reserve of €33m. Up to 1,000 people were present in the Main Hall of the RDS for the auction.

Among the more expensive - seven figure - lots to fall into new hands were: Permanent TSB, Sligo, which sold for €2.4m; a commercial premises in Stillorgan which sold for €1.07m and Advance Pitstop and An Post units, Mallow, which sold for €1.55m.

Robert Hoban, director of auctions at Allsop said “I think the harbingers of a revival that we saw in our autumn auctions have been proven to be correct.”

 

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