• Home
  • NAMA property for sale
  • About
  • The Developers
  • The Tranches

NAMA Wine Lake

Click the green link above for latest news and over 2,600 related articles. NAMA – National Asset Management Agency – part of Ireland's response to its banking crisis and property bubble

Feeds:
Posts
Comments
« NAMA scrutinised by the public accounts committee
Irish bank-controlled hotels; follow-up »

BTW Cairns 20-lot auction a sell-out success

July 5, 2012 by namawinelake

Tomorrow in Dublin’s Shelbourne Hotel, we’ll get to see the lay of the land for residential, commercial and development property in the Republic of Ireland with the latest Allsop Space auction. Allsop Space has blazed a trail in Irish property auctioning since coming on the scene in April 2011 and with 90%-plus success rates with very large lot auctions, is number one by a country mile in the Republic. But across the Border in Northern Ireland, BTW Cairns notched up a 100% perfect performance last week with all 20 of the Lots available sold, with an additional Lot sold before the auction itself. Here are the results:

Overall, there was a 100% success rate and GBP 1.7m (€2.2m) was raised from the sale of 20 Lots. The achieved prices were 36% above the maximum reserves – the “maximum reserve” being the price above which the winning bidder is guaranteed to get the property, a concept introduced by Allsop Space last year. About 500 punters/gawkers attended the auction, and yields achieved were at the high end, between 8-15%. The Northern Irish residential property market has collapsed by more than the Republic’s in real terms, and based on results of this auction, a recovery may be some way off.

Meanwhile final preparations are being made for tomorrow’s Allsop Space auction. Of the 90 Lots in the original catalogue, six have been withdrawn meaning that 84 will come under the hammer tomorrow. There have been 120,000 visits to the online catalogue including 45,000 when the catalogue first went online a month ago. Some 1,500 people have attended viewings and Allsop Space say they have received telephone bidding registration forms with deposit cheques from locations as far afield as Ethiopia, Japan and Australia. Robert Hoban, the Allsop Space Director of Auctions said today “The mix of properties in this particular catalogue seems to have struck a chord as there has been a strong reaction, particularly to the bigger Lots. A number of the properties have already been on the Private Treaty market unsuccessfully, hopefully strengthening the case for auction as the most transparent and popular way for properties to be purchased.” There is a preview of this auction available here, and there will be coverage of the proceedings and results.

Advertisement

Share this:

  • Twitter
  • Facebook
  • Reddit

Like this:

Like Loading...

Related

Posted in Irish Property, Northern Ireland |

  • Recent Posts

    • Test – 12 November 2018
    • Farewell from NWL
    • Happy 70th Birthday, Michael
    • Of the Week…
    • Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of European Commission commitments
    • Gayle Killilea Dunne asks to be added as notice party in Sean Dunne’s bankruptcy
    • NAMA sues Maria Byrne and Graham Byrne in Dublin’s High Court
    • Johnny Ronan finally wins a court case
  • Recent Comments

    Wisemama on Eddie Hobbs’s US “partner” fir…
    Dorothy Jones on Of the Week…
    Sean Bean on Eddie Hobbs’s US “partner” fir…
    John Foody on Of the Week…
    Wisemama on Eddie Hobbs’s US “partner” fir…
    otto on Of the Week…
    Frank Street on Of the Week…
    Wisemama on Eddie Hobbs’s US “partner” fir…
    John Gallaher on Of the Week…
    John Gallaher on Of the Week…
    who_shot_the_tiger on Eddie Hobbs’s US “partner” fir…
    Sean Bean on Eddie Hobbs’s US “partner” fir…
    otto on Of the Week…
    Brian Flanagan on Of the Week…
    Robert Browne on Gayle Killilea Dunne asks to b…
  • Twitter Updates

    Tweets by namawinelake
  • Click on date for that day’s posts

    July 2012
    M T W T F S S
     1
    2345678
    9101112131415
    16171819202122
    23242526272829
    3031  
    « Jun   Aug »
  • Blog Stats

    • 5,119,622 hits

Create a free website or blog at WordPress.com.

WPThemes.


Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
  • Follow Following
    • NAMA Wine Lake
    • Join 1,326 other followers
    • Already have a WordPress.com account? Log in now.
    • NAMA Wine Lake
    • Customize
    • Follow Following
    • Sign up
    • Log in
    • Copy shortlink
    • Report this content
    • View post in Reader
    • Manage subscriptions
    • Collapse this bar
 

Loading Comments...
 

    %d bloggers like this: