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Friday 28 July 2017

Sale of housing drives €30m auction

43 residential units in Portarlington, Co. Laois sold for €1.5m at the Allsop auction
43 residential units in Portarlington, Co. Laois sold for €1.5m at the Allsop auction
Ronald Quinlan

Ronald Quinlan

Allsop secured sales of over €30m in two auctions last week. Almost 3,000 bids were placed at the sales, with multi-unit lots proving to be the strongest performers, according to Richard O'Neill, director at Allsop.

The headline result was a portfolio of 43 residential units in Portarlington, Co. Laois, which sold for €1.5m. The properties comprise a selection of houses and apartments, all of which require completion works.

Six residential units in Donabate in north county Dublin, generating rental income €59,760 per annum, were sold for €920,000; a portfolio of 11 apartments at Grove Island in Limerick, generating €92,760 per annum, were sold for €925,000; and 10 apartments in Bagenalstown, Co. Carlow - nine of which come with vacant possession - were sold for €475,000. A warehouse in Inchicore, Dublin 8, let to Virgin Media Ltd for €135,000 per annum, sold for €1.5m.

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