108 lots sold at distressed property auction

Wednesday 30 November 2011 23.01
Highest price achieved was for a property in Dublin 4
Highest price achieved was for a property in Dublin 4

Almost all of the properties available at the country's largest auction of distressed property sold today.

Four of the 112 properties listed for sale were withdrawn and 99 of the remaining 108 lots sold for a combined total of €11.4 million.

The lots, which were a mix of residential, commercial and mixed use property, included a three-bedroom house in Co Donegal with a maximum reserve price of €21,000, which was sold for €32,000.

The auction was the fourth Allsop/Space Property sale this year.

The highest price achieved was for a property on Pembroke Road in Dublin 4, which went for €630,000, while the smallest lot was in Ballinrobe, Co Mayo, which sold for €25,000.

Two homes in Dublin 6 both reached their reserve prices, with a house on Garville Road in Rathgar selling for €15,000 over the reserve at €435,000, while a house in Rathmines sold for €380,000.

A two-bedroom apartment in the Cubes in Sandyford's Beacon South Quarter sold for €152,000, €22,000 above the maximum reserve.

A group of protestors from the Anti-Eviction Taskforce demonstrated outside the hotel as the auction was being held

The taskforce said it is wrong for people to benefit from people who have lost their homes.

A spokesperson for Allsop Space said the homes on sale do not include family homes that were repossessed, but some of the properties were handed back to lenders.

Space Property has already organised five similar auctions for next year.