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Hammer time

You could've bought a big hotel for under €1m today, but someone else did

The Shandon Hotel in Donegal went for just over €800k.

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THIS DUBLIN RETAIL space sold for double its reserve as part of a retail sale that saw nine properties go for over €1 million prior to auction.

The ground floor unit in Dublin’s City Centre sold for €810,000 at today’s Allsop Space auction, about twice its reserve.

Six of the seven priciest proprieties were snapped up ahead of today’s sale. The most valued of those was a 36,000 sq. ft warehouse in North County Dublin.

The most expensive sale to to take place today was the €2.4 million purchase of a four-story office block just off the Old Naas Road in Dublin. The block is let until 2023 and also came in well ahead of its reserve of €1.7 million.

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Today’s sale also saw the 71 bedroom Shandon Hotel on Donegal’s north coast go for €810,000. The hotel also has a spa, children’s centre and views of the Dunfanaghy coast and beat it’s top reserve of €730,000.

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Other sales today included a restaurant in Monkstown in Dublin which went for €520,000 and a retail store in Limerick that sold for €4550,000.

There’s nearly always a pub on sale somewhere during these sales and perhaps the pick of those in Jordan’s Pub in Ballina which is listed for €200,000.

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Allsop’s Robert Hoban says today’s sale showed that there is “great confidence” in the Irish investment market with bidders purchasers paying 30-50% above estimates in many cases.

Read: From €10k houses to an entire shopping centre: A look at today’s Allsop auction properties >

Read: Ireland’s first-ever online property auction has been suspended because the website crashed >

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