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Dublin: 5 °C Monday 20 January, 2020

One of Ireland's oldest trading hotels is going under the hammer in two weeks

Over 300 properties with a combined reserve of €56 million will go in two massive sales.

The Grand Hotel, Tramore in 1905
The Grand Hotel, Tramore in 1905

THE 300-YEAR-OLD GRAND Hotel in Tramore – one of the oldest continually trading hotels in the country – will be one of over 300 properties going under the hammer next month.

The landmark 81-bedroom property in Co Waterford, which was built in the late 1700s and overlooks Tramore Beach, will be auctioned with a reserve price of up to €570,000.

Formerly known as both Walsh’s Hotel and the Great Hotel before it was given its current name, it was expanded by its owners of the last 30 years, the Treacy family, before they recently decided to retire.

The property, now a 3-star hotel with a bar and restaurant, was put up for sale earlier this year with a guide price of €550,000. It has been closed for several months.

Auction house Allsop Space will be selling the hotel alongside another 111 properties in an auction aimed at commercial buyers on 9 December. The auction will include 4 hotels, 6 pubs and a restaurant among the offerings, which have a combined reserve price of some €25 million.

LOT 69 The Grand Hotel, Tramore

Greeg Court, Dublin – reserve €3 million to €3.5 million

Also up for grabs will be a portfolio of 25 apartments called Greeg Court on Parnell Street near the Dublin city centre.

The 1- and 2-bedroom apartments are being sold as one investment package with a reserve price of up to €3.5 million.

LOT 20 Greeg Court on Parnell St, Dublin 1

Meanwhile for residential buyers, 198 properties will be up for grabs two days later when homes in counties from Dublin to Limerick, Meath and Wexford go on sale.

They will have a total reserve price of €31 million, bringing the full reserve value of the two auctions at the RDS in Dublin to €56 million.

Castlecor Estate, Co Meath – reserve under €450,000

The Georgian-era Castlecor Estate at Oldcastle in Co Meath, which sits on nearly 17 acres, will be one of the residential properties on sale.

Featuring 12 bedrooms, its former owners were given planning permission to convert it into a boutique hotel.

It was one of the first estates to be hooked up to both electricity and indoor running water during its glory days.

LOT 193

Allsop auction director Robert Hoban said the company decided to run two separate auctions because of the quality of properties being offered for sale and the strong results it had got so far this year.

Recent figures from the Central Statistics Office (CSO) showed property prices were starting to pick up outside Dublin, although sales in the capital appeared to finally be tapering off after a 22% rise in house prices over the past year.

READ: Home or away: Where’s the cheapest place in Europe to buy property >

READ: What else could I get for… the €250k pricetag on this Wicklow gate lodge >

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About the author:

Peter Bodkin  / Editor, Fora

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