Updated 7.54pm
THIS 18TH CENTURY property attracted a flurry of bids at today’s Allsop Space auction.
Millars House in Kilalla, Co Mayo had a reserve of between €525,00 and €575,000, but was finally sold for €765,000.
Ten properties were sold for over €1 million today at the RDS of a total of 156 properties with a combined value €48 million.
“Big premiums were achieved on all of the €1m plus properties leading to a belief that the expiry of the Capital Gains Tax at the end of December this year had a significant impact on sale prices,” Robert Hoban, Director of Auctions at Allsop Space, said.
“Allsop Space expect our December auction to be potentially bigger than this, which will provide an outlet to both buyers and sellers to complete transactions before the expiry of the CGT.
The divide between urban and rural properties was evident again with the bigger premiums being achieved in the cities. Rural properties were running at approx. 25% over reserve prices compared to 40% for city properties.
[Allsop]
The building that houses Dublin’s Sin Nightclub, along with eight apartments above it, was sold at the asking price of €2,350,000,
The mixed use building (above), which contains the well-known Temple Bar night spot, leased to Pcard Taverns Ltd, which has a 35-year-lease on the venue, and will be unaffected by today’s sale. The same goes for the eight high-spec apartments.
The landmark Swords Town Centre, which includes 17 retail units, again met the reserve price of €1.9 million.
Allsop sold €54.5 million worth of houses, apartments, retail spaces and offices in its last auction in September, and the company notes in its press release that the majority “were non-distressed properties”.
The property firm also points out…
Allsop Space stand by their pledge not to handle the sale of repossessed family homes, or any properties subject to a legal dispute.
Originally published 8.12am. Additional reporting by Nicky Ryan.
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