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Dublin: 8 °C Thursday 20 February, 2020

Developer being pursued by Ulster Bank among protest group that halted Allsop auction

A group of protesters forced the cancellation of the distressed property sale at Dublin’s Shelbourne Hotel, after gaining access to the auction room.

A DEVELOPER AND former member of Fianna Fáil’s ard chomhairle was among a group of protesters that forced the cancellation of the Allsop distressed property auction at the Shelbourne Hotel this morning.

Protestors from various groups, including ‘Friends of Banking Ireland” gained access to the auction room shortly after the event began at 9.45am, forcing organisers to halt the proceedings. A number of demonstrators, including developer Jerry Beades, occupied the venue for around an hour, but left after being told gardaí were being called in.

Beades, from Fairview, is currently being pursued by Ulster Bank for €3.5 million arising from alleged unpaid loans. He was most recently before the Commercial Court last month, and is representing himself in the case.

121 properties, including 33 houses and 26 apartments were due to go under the hammer as part of the auction. A statement released on behalf of Allsop said they were forced to cancel the event on account of public safety concerns:

Allsop Space has confirmed that today’s auction has been cancelled due to unforeseen organized protests taking place in the Shelbourne hotel.

Unfortunately, proceedings were cancelled in the interest of public safety of those attending the auction.  Further details will be announced in due course

Jerry Beades spoke to as he exited the hotel this morning…

(Youtube: Daragh Brophy)

Read: ‘I didn’t do anything wrong’ – Meath man protests auction of family business

Read: Hotels, pubs and shopping centres up for sale in distressed auction

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