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This unit in Galway, comprising of two 2-bed apartments, is up for sale with a maximum reserve price of €90,000.
This unit in Galway, comprising of two 2-bed apartments, is up for sale with a maximum reserve price of €90,000.

GALLERY: 74 lots confirmed for third auction of distressed properties

Allsop Space will hold its third major auction at the Shelbourne Hotel next month, with its catalogue of property online now.
Aug 24th 2011, 7:31 AM 3,667 23

THE ORGANISERS OF two major auctions of distressed properties have announced details of a third auction to be held in Dublin next month.

Allsop Space will auction 74 lots of distressed property on Friday 23 September, with some listed properties potentially ready for sale for as little as €75,000.

The auction will include properties around the country including both residential and commercial property.

Among the units for sale are two redbrick houses at Waverly Terrace in Rathgar, each of which is currently split into tenanted units, with the reserve price capped at €240,000 in one case.

Seven apartments at Francis Street in Dublin 8 are being sold with reserve prices starting at €92,000, while townhouses and apartments in Blackrock’s Meadow Court development are also up for sale with reserve prices starting at €185,000.

One lot likely to catch the eye of keen investors is a block of 14 apartments and 4 commercial units at Prussia Street in Dublin 7, which currently takes in an annual rent of €110,000 – and which will have a reserve price no greater than €850,000.

In Limerick, three student housing units at Cratlow Wood are being sold as one lot, with a maximum combined reserve price of  €75,000.

lAmong the other commercial properties lined up for sale is the Poacher’s Pub/Juniper’s Restaurant complex in Fermoy, Co Cork, with a maximum reserve of €300,000.

Stephen McCarthy of Space Auctioneers said the auction was likely to attract as many interested parties as the two auctions in April and July, which had both seen so much interest that some punters were bidding on items from the street outside the hotel.

July’s auction took in over €15m when it told 76 of its 87 lots – including a six-bedroom house on Dublin 4′s Ailesbury Road for €2.325 million.

The full catalogue for the September auction can be found at Allsop Space’s website.

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Gavan Reilly

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