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A GOLF COURSE and a four storey office block are among the lots being sold at an auction next week being descibed as “record breaking” by organisers.
The auction will be held next week at the RDS Concert Hall in Dublin and will have 150 commercial and residential properties with a combined valuation of about €23 million.
Ahead of next Tuesday’s auction, Allsop have reiterated that no repossessed family homes would be sold at any of their auctions.
The most expensive property being sold is a €2.8 million valued four storey office block in Limerick, River House on Charlotte Quay. The property is currently being occupied entirely by the Office of Public Works at an annual rent of between €340,000-€370,000 a year. The current lease with the OPW lasts until 2022.
Another of the notable lots set to go under the hammer is an 18-hole golf course together with a golf club, practice area and pitch and putt course. Woodlands Golf Course situated north west of Naas, Co. Kildare is on a 127 acre site and has a current tenancy agreement that expires at the end of this month.
Woodlands golf course and golf club. (Pic: Allsop Space)
The most expensive residential house up for grabs in the auction is a five-bedroom semi-detached period home (top picture) on the Lower Drumcondra Road which has a reserve of between €500,000-€550,000.
The auction catalogue shows that about 90 out the properties up for sale are available at under €100,000.
The auction takes place next Tuesday 10 December 10th with registration beginning at 9 AM and the auction itself at 11 AM.
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The registration of new companies is due to the number of people being hired as contractors, a move designed to ensure large companies can avoid laws such as having to pay redundancy and pensions. Essentially and erosion of workers rights.
Also, “Real Estate” companies are not necessarily a reflection of economic activity. Just the beginning of another property boom. Big investors taking no debt risk by setting up companies in tandem with the banks as they all know that risk is relative to the next bailout they get.
This is clearly good news and can’t be chalked down to job bridge but the doom merchants still find a way to be negative . There are plenty of things to complain about without jumping on positive news stories . I know of plenty of start ups that have come into existence in the last 12 months and I’m also aware of the contractors working for multinational companies . Many of these contracts are quite lucrative as they compensate for the lack of security in tenure .
Also worth bearing in mind that all new businesses are companies. Plenty of other business models out there.
Sole traders, partnerships etc. also create jobs and contribute to the economy.
I wish new start ups all the best but alas this seems like another property bubble…. This Govt just like the last Govt needs to really perk up and listen to this big scary word : S U S T A I N A B I L I T Y !
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