Readers like you keep news free for everyone.
More than 5,000 readers have already pitched in to keep free access to The Journal.
For the price of one cup of coffee each week you can help keep paywalls away.
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.
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.
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.
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.
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 >
