Limerick properties to go under the hammer in sale

SEVEN properties in Limerick - some of them seized from developers’ portfolios - will go under the hammer in Dublin this Friday.

SEVEN properties in Limerick - some of them seized from developers’ portfolios - will go under the hammer in Dublin this Friday.

Less than 150 lots comprising apartments, houses, retail units and hotels are up for sale in the tenth Allsop Space auction in the Shelbourne hotel this March 1, after nine lots were withdrawn from the sale.

Among them are the Kilkee Bay hotel, a 41-bedroom property which has a guide price of €315,000, and the 27-bed Ashford Court hotel on the Old Mill Road in Ennis. It has a reserve of €215,000, on the instructions of the receiver KPMG.

The Limerick lots include a unit in Annacotty Business Park on the instructions of the receiver Grant Thornton, for a reserve of €45,000.

A regular feature in previous auctions, another three-bedroom semi-detached house in Caislean Na hAbhainn, Castletroy, has a reserve of €85,000. The Great Gas filling station and shop in Garrienderk, on the main Kilmallock to Charleville Road, which has a guide price of €125,000, is also going under the hammer.

A two-bedroom apartment on the fifth floor of Glenlara House, Mount Kennett Place in the city has a reserve of €27,500. It is available for a long leasehold from the receivers Grant Thornton.

Two three-bedroom semi-detached houses on the Old Cork Road have reserves of €45,000; two four-bed semi-detached houses in the same area have reserves of €75,000; over eight acres of land in Ballynanty are being sold for in excess of €24,000.

In all nine auctions it has held to date, from April 2011 to December 2012, over €122.4m has been realised from the sale of 777 lots. The auction has an overall success rate of 93% in terms of sales.

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