Allsop recorded strong sales at a packed RDS on Wednesday 8th July, selling 180 auction properties with a total sales value of over €24.3m. Dublin properties proved to be strong performers with a mix of apartments and houses selling well. Also evident were robust sales for tenanted properties nationwide.
Prime investment opportunities lead the way and included multi-unit properties such as a block of 10 fully tenanted apartments on Gardiner Street, sold for €1,325,000; 5 apartments within a block of six in Temple Bar which sold for €1,020,000 – over €220,000 over the reserve; two mid-terrace Georgian building with eight residential units North Great Georges Street were sold, one at auction for €640,000 and the other sold prior to auction in excess of the reserve; and a Pre-1963 building with 9 units on theNorth Circular Road sold for €355,000.
Not surprisingly, Dublin properties, which accounted for 22% of the properties on offer, achieved solid sales. Dublin apartment sales were vibrant with a selection of Dublin city centre apartments achieving good sales including the first lot of the day – a one bedroom apartment on Parnell Street which sold for €126,000 – €46,000 over reserve; a three bedroom apartment in Kings Inn Street sold for €322,500 – €62,500 over reserve; and a fifth floor two bedroom apartment with tenancy at a current rent of €15,600 per annum (5.5% yield) in Custom House Square, Dublin 1 sold for €280,000. Other Dublin properties which generated interest included a three bedroom apartment on Ailesbury Road, sold for €460,000; and a three bedroom terrace house in Terenure which sold for €322,500.
Also evident was the strength of properties located in Greater Dublin’s inner commuter belt including North County Dublin, Meath and Kildare. Highlights included Hollon House, Straffan – there was competitive bidding in the room for this four bedroom house on 1.5 acres with a floodlit tennis court which sold for €760,000, €85,000 over reserve; a detached three bedroom thatched house with outbuildings in Kilmessan, Co. Meath which sold for €330,000, €80,000 over reserve; and a three bedroom house in Rush sold for €160,000, €55,000 over reserve.
Some of the sales achieved demonstrated a possible trend towards the purchase of prime properties in coastal holiday locations and include a four bedroom house in Castlegregory on the Dingle Pennisula for €162, 500, over double the reserve; and Lisglennan House, Killala – a detached six bedroom period property which sold for €230,000.
Commenting at the auction, Robert Hoban, Director of Auctions said: “It was great to see such a full house in the RDS right from the start of the auction including many new faces. Prime Dublin investments were the standout performers and it was interesting to note the strong demand for housing within the inner commuter belt of Greater Dublin. “
Residential Auction Highlights
Lot 63: Mabbot House, Rear of 91 Gardiner Street, Dublin 1 – Complete block of 10 apartments internally arranged to provide 7 x two bedroom apartments and 3 x one bedroom apartments. The current rent reserved is €78,050. SOLD €1,325,000
Lot 62: Apts 2,3,4,5,6 Eustace House, Eustace Street, Temple Bar, Dublin 2 – 5 apartments within a block of six, offered collectively as one lot. Comprises 4 x one bedroom apartments and 1 x two bedroom apartment. Fully vacant. SOLD FOR €1,020,000
Lot 23: 5 North Great George’s Street, Dublin 1 – A mid-terrace Georgian building arranged to provide eight residential units. There are 5 x two bedroom apartments and 3 x one bedroom apartments. The entire property is subject to a six year lease from May 2014 at a rent of €30,250 per annum. SOLD FOR €640,000
Lot 61: Hollon House, Castlewarden, Straffan, Co. Kildare – Detached four bedroom house extending to approximately 572 Sq. m (6,157 Sq. ft). It is situated on lands extending to approximately 0.6 hectares (1.5 acres). There is a floodlit tennis court to the rear of the property. Vacant possession SOLD FOR €760,000
Lot 80: Apt 21 Merrion Court, Ailesbury Road, Dublin 4 – First floor three bedroom apartment extending to approximately 87 Sq. m (940 Sq. ft). It is located along the exclusive Ailesbury Road and within close proximity of Sandymount and Donnybrook Villages. Vacant Possession. SOLD FOR €460,000
Lot 5: Apartment 69, 16 Kings Inns Street, Dublin 1 – A three bedroom sixth floor apartment extending to approximately 97 Sq. m (1,045 Sq. ft). Vacant Possession SOLD FOR €322,500
Lot 39: 38 Derravaragh Road, Terenure, Dublin 6W – End of terrace three bedroom house extending to approximately 90 sq. m (986 sq. ft) with adjoining garage. It is located in close proximity to Terenure, Rathgar and Rathfarmham Villages. Vacant Possession. SOLD FOR €322,500
Lot 8: Marshallstown, Kilmessan, Co. Meath – Detached three bedroom thatched house extending to approximately 145 Sq. m (1,560 Sq. ft). It is offered together with lands extending to approximately 3.64 hectares (9 acres). There are stables and outbuildings to the rear. Vacant possession SOLD FOR €330,000
Lot 41: Lisglennan House, Killala, Co. Mayo – Detached six bedroom period house together with a cottage extending to approximately 91 sq. m (980 sq. ft). It is located approximately 5.5km south of Killala. Vacant Possession SOLD €230,000
Lot 131: 12 Caher Square, Strand Road, Castlegregory, Co. Kerry – A semi-detached four bedroom house extending to approximately 121 Sq. m (1,300 Sq. ft). The property benefits from a garden to the rear. Vacant Possession SOLD €162,500
Lot 22: Lighthouse and Dwelling and Ancillary Buildings at Drogheda West, Mornington, Co. Meath – A detached two bedroom pre – fabricated bungalow extending to approximately 67 Sq. m (721 Sq. ft) together with a former lighthouse. The property is located adjacent to Mornington Beach. Vacant Possession. SOLD €170,000
Allsop stand by their pledge not to handle the sale of repossessed family homes, or any properties subject to a legal dispute.