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Nicole Pomeroy

Sales of Over €30m at Allsop July Auctions

21 July 2017 / News
Unit 11/12, Goldenbridge Industrial Estate, Inchicore, Dublin 8. Sold for €1.5m.

Allsop has wrapped up two busy auctions this month and all of the results can be viewed here.

Richard O’Neill, Director at Allsop, commented:

“Almost 3,000 bids were placed at our auctions in early July, resulting in sales of over €30m. There has been exceptional demand for auction entries and we have scheduled an additional auction to accommodate these. The catalogue, featuring both residential and commercial properties, is available here, and the auction will take place on Thursday 27th July.”

Multi-unit lots continued to be the strongest performers, bringing significant numbers of vacant residential properties to the pressurised housing market. The headline result was a portfolio of 43 residential units in Portarlington which sold for €1,500,000. The properties comprise a selection of houses, apartments and duplex apartments, all of which require completion works. Other multi-unit highlights include six residential units in Donabate generating €59,760 per annum which sold for €920,000; a portfolio of 11 apartments at Grove Island in Limerick, generating €92,760 per annum, which sold for €925,000; and 10 apartments in Bagenalstown, Carlow – nine of which come with vacant possession – which sold for €475,000.

Two Dublin 8 investments, both in Inchicore, were also highlights – a warehouse let to Virgin Media Limited for €135,000 per annum sold for €1,500,000 and an attractive office investment comprising a retail unit and three offices was sold after the auction. In Ballincollig, a former barracks converted for office use was reserved at €1,200,000 - €1,300,000 and also sold after the auction.

43 Residential Units, Riverside, Portartlington, Co. Offaly. Sold for €1.5m.

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