Market Square building sells for €532,500

The prominent building in Market Square, which went for over half a million euro at the Allsop Space auction in Dublin this week.

The prominent building in Market Square, which went for over half a million euro at the Allsop Space auction in Dublin this week.

A large retail and office building in the heart of Castlebar, overlooking Market Square, fetched €532,500 at an Allsop Space auction this week, while the multi-storey car park on Hopkins Road went for €290,000.

Altogether, the auction on Tuesday in the RDS, Ballsbridge, Dublin, raised €29 million from 149 lots sold, which included house, apartments, offices, and retail units.

The Market Square building has two retail units and first and second floor office space.

The car park is a three-storey building with 180 parking spaces.

At the same auction, a half-acre site at Windsor, on the outskirts of the county town, went for €22,000, while a four bedroom detached house on the Golf Course Road, Westport, went for €145,000.

Another residential property, a three bedroom semidetached on Marion Row, Castlebar, went for €68,000, and a two-bedroom terrace house on the Turlough Road fetched €60,000.

A lot of 15 residential units, made up of 12 one- and two-bedroom aparments and three two-bedroom houses, at Bowgate Court, Ballinrobe, was unsold. The last bid on the property was €100,000.

On the eve of the auction, protestors from the group Friends of Banking Ireland had entered Allsop Space offices in Dublin seeking a guarantee they would not sell off repossessed properties without the owners’ consent.

A number of Allsop auctions featuring distressed assets have been interrupted by protest groups in the past.

Allsop Space reportedly agreed it would no longer offer properties for sale where the owners are engaged in a legal dispute with the bank or receiver.

Meanwhile, figures release yesterday (Thursday ) by the Central Statistics Office (CSO ) showed residential property prices increased by 6.3 per cent in the last year. However, outside of Dublin, residential property prices were 1.2 per cent higher this month compared to January 2013.

 

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