Allsop Space Release The Largest Auction Catalogue in History
Allsop Space Release The Largest Auction Catalogue in History
Allsop Space Release The Largest Auction Catalogue in History
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PRESS RELEASE<br />
8 th November 2011<br />
<strong>Allsop</strong> <strong>Space</strong> <strong>Release</strong> <strong>The</strong> <strong>Largest</strong> <strong>Auction</strong> <strong>Catalogue</strong> <strong>in</strong> <strong>History</strong><br />
- Also Confirmed Plans for 2012 -<br />
<strong>Allsop</strong> <strong>Space</strong> has announced details their f<strong>in</strong>al property auction of 2011, which is to feature<br />
the largest number of property at auction <strong>in</strong> Irish <strong>History</strong>.<br />
<strong>The</strong> fourth <strong>Allsop</strong> <strong>Space</strong> auction of 2011 will feature a massive 112 lots and will take place on<br />
Wednesday, 30 November <strong>in</strong> the Shelbourne Hotel, Dubl<strong>in</strong>.<br />
Accord<strong>in</strong>g to Director of <strong>Allsop</strong> <strong>Space</strong>, Stephen McCarthy, “<strong>The</strong> November auction will pave<br />
the way for 2012. We plan to feature more lots at each <strong>in</strong>dividual auction next year. <strong>The</strong><br />
figures from our last auction speak for themselves. €10 million was realized. Over 80% of<br />
those buy<strong>in</strong>g at auction are without bank f<strong>in</strong>ance which highlights that there are still plenty of<br />
domestic and overseas buyers <strong>in</strong> a position to <strong>in</strong>vest <strong>in</strong> property <strong>in</strong> Ireland.”<br />
Mr McCarthy cont<strong>in</strong>ues “Interest<strong>in</strong>gly, almost a third of purchasers were owner occupiers,<br />
demonstrat<strong>in</strong>g that the current market is not just for the <strong>in</strong>vestor. <strong>The</strong>se auctions can only<br />
help stimulate the market and encourage property transactions aga<strong>in</strong>.”<br />
<strong>The</strong> bumper November auction is to feature a mix of Dubl<strong>in</strong> and countrywide residential and<br />
commercial properties – <strong>The</strong> property mix is likely to appeal to all types of buyer, <strong>in</strong>clud<strong>in</strong>g<br />
first-time buyers, those trad<strong>in</strong>g up or down, and <strong>in</strong>vestors, both domestic and <strong>in</strong>ternational.<br />
Gary Murphy, <strong>Auction</strong>eer and Director of <strong>Allsop</strong> <strong>Space</strong> comments “We believe that large<br />
scale public auctions will cont<strong>in</strong>ue to play an important part <strong>in</strong> the chang<strong>in</strong>g Iandscape of Irish<br />
property transactions. “<br />
Mr Murphy cont<strong>in</strong>ued “<strong>The</strong> transparency of the method has become widely appreciated s<strong>in</strong>ce<br />
our <strong>in</strong>augural sale <strong>in</strong> April this year. <strong>Allsop</strong> <strong>Space</strong> is rapidly establish<strong>in</strong>g a public data bank of<br />
real sales evidence. In the absence of a national sales registry, this <strong>in</strong>formation is becom<strong>in</strong>g<br />
<strong>in</strong>creas<strong>in</strong>gly important to home owners and property professionals. Rental yields can now be<br />
usefully calculated us<strong>in</strong>g prices paid. For the first time, prospective <strong>in</strong>vestors are able to make<br />
<strong>in</strong>formed buy<strong>in</strong>g decisions and to monitor and assess the relative performance of different<br />
properties and alternative asset classes.”<br />
Notable residential lots which will appeal to overseas buyers <strong>in</strong>clude:<br />
Lot 110 Shercock 16 Lough Sillan Lodge, Co. Cavan<br />
A freehold detached four bedroom house with access to Tennis Court and Mar<strong>in</strong>a with<br />
Slipway.<br />
RESERVE PRICE NOT TO EXCEED<br />
€50,000
Lot 77 16 Harbour View, Tarmon Harbour, Termonbarry<br />
A freehold end terrace house with mar<strong>in</strong>a views, to be sold with a leasehold mar<strong>in</strong>a berth.<br />
RESERVE PRICE NOT TO EXCEED<br />
€90,000<br />
Lot 2, Number 5 <strong>The</strong> Corn Exchange Dubl<strong>in</strong> 2<br />
An unusual 2 bedroom duplex apartment <strong>in</strong> a converted bank overlook<strong>in</strong>g the Liffey<br />
RESERVE PRICE NOT TO EXCEED<br />
€120,000
Comb<strong>in</strong>ed Reserves:<br />
€10.4 million<br />
Most Expensive Lot:<br />
174 Pembroke Road, Ballsbridge, Dubl<strong>in</strong> 4.<br />
Mid terraced build<strong>in</strong>g arranged to provide two restaurant premises.<br />
Reserve not to Exceed: €475,000<br />
Least Expensive Lot:<br />
0.05 Acre Site at Childers Road, Ennis, Co. Clare.<br />
Reserve not to Exceed: €7,500<br />
Most Expensive House:<br />
13 Garville Road, Rathgar, Dubl<strong>in</strong> 6<br />
End of terrace period house <strong>in</strong> 8 residential units.<br />
Reserve not to Exceed: €420,000<br />
Least Expensive House:<br />
53 Beechwood Park, Convoy, Co. Donegal<br />
Three bedroom semi-detached house<br />
Reserve not to Exceed: €21,000<br />
Least Expensive Apartment:<br />
Apartment 31 Harbour Court, Mull<strong>in</strong>gar, Westmeath<br />
Two bedroom apartment with €5,100 per annum <strong>in</strong>come<br />
Reserve not to Exceed: €25,000<br />
<strong>The</strong> <strong>Allsop</strong> <strong>Space</strong> Property <strong>Auction</strong> will take place on Wednesday 30 November at the<br />
Shelbourne Hotel. <strong>The</strong> catalogue is available from tomorrow, Wednesday, 9 November at<br />
www.allsopspace.ie or by call<strong>in</strong>g the <strong>Allsop</strong> <strong>Space</strong> catalogue l<strong>in</strong>e on 1590 415 845 or text<strong>in</strong>g<br />
auction to 57800 (ROI).<br />
<strong>Allsop</strong> <strong>Space</strong> are also tak<strong>in</strong>g the opportunity to announce a commitment to five auctions <strong>in</strong><br />
2012, the first of which will take place <strong>in</strong> March. For the year to date, <strong>Allsop</strong> <strong>Space</strong> have sold<br />
214 out of 231 lots achiev<strong>in</strong>g a success rate of 92.6% rais<strong>in</strong>g a total of €40 million.<br />
Notes to Editor<br />
About <strong>Allsop</strong> LLP and <strong>Space</strong><br />
<strong>Allsop</strong> <strong>Space</strong> is a property auction partnership between <strong>Allsop</strong>, the UK's most successful<br />
property auctioneer and <strong>Space</strong>, a Dubl<strong>in</strong> based property consultancy. <strong>The</strong> partnership<br />
provides a lead<strong>in</strong>g property auction service for distressed and private property across the<br />
Republic of Ireland with an average success rate to date of 92.6%.<br />
www.allsop.co.uk<br />
For more <strong>in</strong>formation please contact Jennifer Mortimer<br />
E: Jennifer.mortimer@allsop.co.uk<br />
DD: +44(0)20 7543 6728<br />
M: +44 (0)7825 247 328