Bumper auction has site for just €15k
Published 22/06/2011 | 05:00
A Laois residential site with a €15,000 price tag has become the cheapest development site to be offered at the bumper GMAC Properties auction, which takes place on Friday.
As many as 67 properties are scheduled to go under the hammer and generate about €10m in sales.
The sale features sites, commercial properties and houses in Leinster and Munster, including two in Dublin. Some have reserves which reflect discounts of up to 70pc on what they might have fetched at market peaks.
The cheapest auction offering is the 1.7-acre site in Borris-on-Ossory which, while it does not have planning permission, is located in an area zoned for urban development and adjacent to the railway line. In all there are about 20 sites in the auction catalogue.