AN IRISH PROPERTY agency has released details of the rock-bottom reserves on a batch of ‘distressed’ properties it will be auctioning off in Dublin next month.
Space Property is working with Allsop auctioneers from England to hold the sale on April 15 in the Shelbourne Hotel.
Around 80 properties, mostly residential, will go on sale with incredibly low reserve prices. There are also guaranteed maximum reserve prices on each property.
The impetus is to shift these properties as quickly as possible because their owners or receivers need to sell them urgently, as Space MD Stephen McCarthy explained to TheJournal.ie late last month. One bargain property for sale is a block of six apartments and three commercial units in Wexford town, which carries a MAXIMUM reserve price of €210,000.
There are plans to hold two more similar auctions of ‘distressed’ properties later in the year and four a year from 2012 on.
Flick through our slideshow to see what kind of property is up for grabs – and the absolute maximum price that the sellers are looking for:
All images courtesy of Space Property
Additional reporting by Susan Ryan
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