Hotel sale is highlight of auction season

A MUNSTER property auction is set to offer 30 lots to investors and buyers in Cork on October 2, following hot on the heels of a very successful Allsops auction last week that netted an all time high of €54m from 194 lots.

Among the strong Munster sellers last week via Allsops was 7.8 acres at Ringmeen, Cobh, which netted €655,000 for a site with planning extended for 65 new homes, far surpassing the €200,000/250,000 reserve. In Cork City, six apartments at 15/16 Watercourse Road made €350,00 at auction, while in Rosscarbery eight apartments on North Square made €325,000.

In tipperary, 42 warehouse units in Clonmel’s Ard Gaoithe Business Park, went for over double the reserve, making €1.61m — or €40k per unit.