Dublin distressed-property sale raises €10m

More than €10m has been raised through the third distressed property sale at the Shelbourne hotel in Dublin today.

A total of 56 lots out of 67 were sold, including an entire development of 14 apartments in Dublin 8 for €1.15m.

A Bundoran two-bedroomed apartment sold for more than double the reserve at €42,000.

Stephen McCarthy is managing director of Spaced Property, who organised today's auction said there was "huge foreign interest…We're encouraged."