Sales flow at property auctions in both Cork and Dublin

AN 81% sales record was achieved at last week’s Munster Property Auction, with 21 out or 26 lots selling at Cork’s Rochestown Park Hotel. It comprised 16 Cork lots, five from Kerry, three from Limerick and one apiece from counties Waterford and Tipperary.

Among the strong bids was a four-bed townhouse at 34 Dominic Street, Shandon, Cork which got 35 inquiries, and 20 bids selling at €30k over the guide at €195,000. A five-bed home at Church Hill Meadows, Limerick city attracted 12 bids and sold for €231,000. The next Munster Property Auction is December 3.

Meanwhile, Allsops will bring 192 properties nationwide to auction on October 22, with a combined reserve of €45 million, after an all-time high of €54m in the September auction.

Eleven have individual guides of over €1m, with combined reserves of €17m, and include a 15,000 sq ft South Mall, Cork, office investment at €1.3m-plus, among other office sales, plus a Dartry Dublin apartment block with six units, earning €88,000 pa and guided at €1.7/1.8m.

Included is Temple Bar Dublin’s Sin Nightclub (Lot 50) with eight adjoining apartments at Sycamore Street in a mixed use investment, with a reserve of €2.35m. At Swords Town Centre a retail investment portfolio with 17 retail units has a reserve of €1.9m. The mix includes land, ten apartment blocks, ten bars, 23 industrial properties, a creche, a car park, and over 50 houses and six house developments.

At Banagher, Offaly, a derelict mill dating to the 1800s plus a former police barracks has a reserve set at €55,000.

Details: www.munsterpropertyauction.ie, www.allsopspace.ie