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ANOTHER AUCTION OF distressed property is planned for 1 March with a whole hotel and other large properties on the books.
The latest Allsop Space auction will be held in the Shelbourne Hotel in Dublin, starting at 9.30am. Among some of the 155 properties listed for sale are the Kilkee Bay Hotel in Co Clare and an entire Georgian house in central Dublin. The reserve on the hotel is not to exceed €315,000; the house on Herbert Street in Dublin 2 has a reserve of €560,000. There is also a bar, nightclub and attached apartments in Clifden, Galway up for sale with a reserve tag of €450,000.
The most expensive lot up for sale is a 5,335 sq metre industrial unit on the Airways industrial estate in Santry, Dublin – it has an €895,000 reserve on it.
Sixty-three per cent of the lots up for auction come under a €100,000 maximum reserve tag. The cheapest are two plots of land – €8,000 for less than half an acre near Inniscara, Co Cork and €10,000 for 1.4 acres in Moycullen, Co Galway. The full brochure is here.
The Allsop Space auctions have attracted interest since the first one was held in April 2011, both because of the low reserves on properties and because of some high-profile properties which have passed through the auction room, including Dartmouth Square, Dublin, an entire street in Tipperary and a 55-bedroom hotel in Donegal which went for €650,000. In the case of the square and the hotel, they were snapped up by local residents and the incumbent management respectively.
After he last auction, in December, Allsop Space director of auctions Robert Hoban, said that overseas investors had been prominent in the auction room.
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Makes me wanna cry when I think what I paid for my house…..
The hotel in kilkee is only fit for knocking , my buddy worked on it he said that they had to rip all the footpaths out all around it cos it had sank 4 inches before the second fix . It’s built on a bog .
Sad too see….great spot.
The half acre in iniscarra?
No the kilkee bay hotel !!
An appartment in leitrim haaaaa
It’s actually more like bundoran Tullaghan us like right beside just in the small strip of Leitrim that touches the sea
Thre Kilkee Bay never had enough Heineken on tap good riddance.
One of the nicest sea side towns in the country cant wait to get back down.
A load of tat again. Where are the aib repos?
You’re right (for a change) Mule.
The majority of these properties are from Bank Of Scotland Ireland’s/Halifax’s loanbook.
The likes of AIB and Co. are just waiting for all BOSI’s/Halifax’s Repos to be sold (whilst the same time bleeding their distressed customers dry), and then AIB and Co. turn into Cromwell.
I suppose in a sick lot of ways the BOS/Halifax way is more swift and less painless, than the Irish Bank’s Water Torture.
Disgusting.
Truly Disgusting!!
“Put an Irishman on the spit and you can always get another Irishman to turn him”.
Shaw, George Bernard.
What could you do with a third of an acre ( probably less when you include ditches and the road way ) of agricultural land in inniscarra , that would make it 24 thousand an acre…
yuuuuuuuuuuuuup for the hotel
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