A country cottage in Leitrim is to be offered for sale at a reserve price of €7,500 at an upcoming property auction, due to take place in Dublin at the Shelbourne Hotel on Thursday March 1, which will include a number of ‘distressed properties’; also on offer are three Enniscrone Marella Holiday Village two-four bedroom houses, whose individual reserve price is not to exceed €55,000, as well as a Galway city centre two-bed townhouse, located over the Eyre Square Shopping Centre, starting at just €75,000. Also included is a vacant flat in Clifden, €55,000. No Mayo properties are included on the list.
The Galway property is located in the centre of Galway city above the Eyre Square Shopping Centre. The development is located to the southwest corner of Eyre Square close to the junction of Eyre Square and Victoria Place. It comprises a townhouse arranged over two floors beneath a pitched roof, which is subject to a long lease tenancy reserve at a current gross rent of €8,400 per annum.
This first major property auction of the year by Allsop Space will be followed by four other similar auctions throughout 2012.
According to Robert Hoban, director of auctions at Allsop Space: “The March 1 sale features 100 lots with reserves totalling €10.3 million. There is an almost even spilt of properties between Dublin (46 lots ) and nationwide (54 lots ). No longer considered a ‘distressed sale’, one third of the March catalogue is being sold on behalf of private individuals.”
There are three Sligo holiday homes up for auction at Ennis at the Marella Holiday Village in Enniscrone. The reserve on each property is not to exceed €55,000.
Lot 6 is 34 Marella Holiday Village, a detached house arranged over two floors containing reception room, kitchen area, bedroom with en suite, and cloakroom. The other two houses, Lot no 66 is 49 Marella Holiday Village and Lot no 85 is 25 Marella Holiday Village, are four bedroom units.
There is a total of 74 residential lots comprising 33 houses and 41 apartments. The largest lot is the Sandhouse Hotel, Rossnowlagh, Co Donegal, a 55 bedroom coastal hotel, €650,000, while the smallest lot at Drumcanon, Carrigallen, Co Leitrim, is a country cottage starting at €7,500.
Mr Hoban added: “We continue to receive strong interest from investors, which is indicative of market confidence. Our tenanted investment opportunities continue to offer attractive yields over other asset classes and we hope that the continuing positive message being sent abroad will attract further inward investment from overseas.”
The Allsop Space property auction catalogue can be viewed at www.allsopspace.ie