Allsop auction spans range of emotions

Protests outside, purchasers inside, bargains to be had and businesses gone, some €14 million back in the bank or in the pockets of vendors, and Chinese buyers making a mark — yesterday’s Allsop auction of 125 Irish property lots spanned a range of human emotions.

A placard-wielding protest — one carrying the Fr Ted TV programme slogan “Down with this Sort of Thing” by a family linked to a Meath warehouse up for sale for a receiver guiding €50,000 — failed to quell interest, or activity, in the latest auction of Irish homes, businesses premises, bars, and failed dreams. Although the auctioneers preface their sales with the statement they shouldn’t be classed with the description “distressed property auctions”, there was distress to be seen — outside the auction rooms, at least. Inside, it was time to roll up the sleeves, raise hands, bid and buy, with an 87% success rate of lots finding buyers.

In a touch of Home and Away, an Irish investor, based in Australia where he works for a German investment bank, came to buy a beachside lot at popular Brittas Bay for €775,000. This Co Wicklow equivalent of Summer Bay included McDaniels pub, and a holiday resort including eight chalets and eight holiday homes.