THE FIRST OF two massive property auctions kicks off in the RDS, Dublin today with hopeful buyers of all sorts hoping to grab a bargain.
Property consultants Allsop are running the two events, with €35 million worth of residential property alone to come under the hammer.
Today’s auction, which kicks off at 9am, will see a mixture of commercial and residential property up for grabs, while Thursday’s second auction will be residential only.
The level of take-up should give an interesting insight into how the property market stands in Ireland at present.
The extent to which properties sell for above their reserve price (ie the minimum bid) will give an indication of just how competitive things are between buyers.
If rents and asking prices are anything to go by in the capital just now, the market should be at fever pitch.
290 private houses and properties will be up for grabs, fully a quarter of which are in Dublin.
Highlights will include:
Jonathan Fenn, head of residential with Allsop describes the domestic properties at the auction as the company’s “largest residential catalogue to date”.
On the commercial side, of the 80 properties up for grabs the highlight is 10 Harcourt Street, Dublin, a Georgian property with two warehouses on site. The reserve on the property is €2.9 million.
You can view the full catalogue of houses etc available at the auction here.
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