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Allsop biggest auction with E60m reserve

Friday, August 29 11:09:16

Auctioneers Allsop Space today announced details of their September 16 auction, which will see up to 261 properties go under the hammer at the RDS, with a combined reserve of E60m, their biggest to date.

The auction catalogue includes up to 100 Dublin properties, comprising both prime residential and commercial investment opportunities.

Residential investment opportunities going under the hammer include much sought-after house and apartment developments in prime locations including Malahide, Lucan and Dundrum amongst others, the auctioneers said.

The two largest residential lots in the catalogue, with a combined reserve of E8.5 million, are being brought to market by private sellers, a positive reflection of the increase in private sellers joining the market.

These residential investments comprise of: Lot 42: Castle Terrace Court, Malahide, Co Dublin a 23 apartment development with underground car park and communal garden with a reserve range of E4,000,000 to E4,500,000. Total current rent reserved E289,200 per annum.

Lot 21: The Hollows, Lucan, Co Dublin: 27 unit development comprising of 9 one bedroom apartments, 9 three bedroom Duplexes, 7 three bedroom townhouses and 2 one bedroom houses. Located in close proximity to Lucan village. Total current rent reserved E331,632 per annum and a reserve range of E3,500,000 to E4,500,000.

Lot 146: Dunvillaun Beg island Belmullet is an entire island off the Atlantic west coast of Ireland with a reserve of E100,000. Extending to approximately 22.6 hectares (55.8 acres) and located on the Wild Atlantic Way tourist trail.

"Further echoing current market trends, the general profile of Allsop Space clients has changed significantly in recent months, moving from 87pc cash buyers earlier in the year to less than 50pc as of their July auction. This reflects the positive movement within the industry and an increased confidence, which saw cash buyers account for approximately only one in three purchases in the property market in the second quarter of 2014, down 50pc from the previous quarter," Allsop said.

Commercial properties will make up almost half of the lots on offer at the September 16 auction.

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