Today’s Allsop Space auction in the Shelbourne Hotel in Dublin has concluded and it can be judged a success with 88 of the 103 Lots that were ultimately up for grabs being sold, representing a sale success rate of 85.4%. The total auction raised €13.6m which was 36% over the maximum reserves for the 88 Lots sold. Allsop Space should be very pleased with the results today, because this auction was a departure from previous auctions in that it focused primarily on commercial property and also the auction takes place just a day before one of the toughest budgets ever.
The results are shown below – click to ENLARGE. The online catalogue is available here. Analysis later but in summary there were about 500 punters today, down on previous auctions, but there was plenty of money around. The garden square in Ranelagh attracted controversy on the day with its erstwhile owner coming along to protest at the sale, in the end there were no bids for the 2-acre square which had a maximum reserve of €140,000. Gary Murphy did the honours at the podium but the IT system was dogged with problems throughout, with stops to correct the Euro/Sterling exchange rates and on the Internet, there were problems with actual results – no doubt, gremlins because in the past, the IT system was slick.
According to the Journal.ie the square was sold for €142,000.
Wow, some of these prices (sold prices for Galway ) are below what I’d expect.
The Turtle Pub for 85k – does the once valuable licence, go with the building?
House at Fionn Uisce (says Merlin Park, but likely to be Doughiska) – 92k.
Water Lane Galway (half a mile from Eyre Square) – 82k.
9 Appartments, Doughishka, Galway -320k
Lot 10, Hynes Yard – 180k with current rent of 10.8k.
My God, how the tables have turned. There’s pain in there somewhere.
Council and locals bought it post auction. Some mystery bidder bid up the price a bit though.
http://www.irishtimes.com/newspaper/ireland/2012/1205/1224327508486.html