Sunday 21 December 2014

This island could be yours - for just €100k

Brian Byrne

Published 05/09/2014 | 02:30

Dunvillaun Beg island hasn't been occupied for more than a century
Dunvillaun Beg island hasn't been occupied for more than a century

Richard Branson eat your heart out - now you too could snap up your very own island at Allsop Space's largest ever public auction.

Dunvillaun Beg island is around two kilometres off the coast of Co Mayo and has been deserted since its last occupants moved to the mainland in the late 19th Century.

The 55-acre site, which is part of a cluster of islands lying south of the Inishkea islands, is offered at a reserve of just €100,000.

However, prospective buyers might need to have a little further cash tucked away, as a lack of a slip or pier means the easiest way to visit is via helicopter.

The island is just one of 261 properties to go under the hammer at the event in the RDS in Dublin on September 16, including more than 100 properties in Dublin.

The two most expensive residential lots in the catalogue are being brought to market by private sellers. They are Castle Terrace Court in Malahide, a development comprising 23 apartments with a reserve of €4m to €4.5m, and The Hollows in Lucan, a 27-unit development with a reserve of €3.5m to €4.5m.

Meanwhile, there are a number of houses and apartments being offered at prices beginning as low as €10,000, such as a 1,000sq ft mid-terrace three-bedroom house in Ballaghaderreen, Co Roscommon.

Associate director Jonathan Fenn said the number of residential properties had sky-rocketed within the past six months due to growing demand, particularly in the capital.

In February, the auctioneers were offering 16 Dublin lots, totalling €3m. These figures have now mushroomed to 61 lots worth €22.5m.

Mr Fenn said: "There are 30 houses in total. Nine are ready for immediate occupation, and then about 13 or so are in bedsits. They can either be retained as investments, or with some TLC they can be returned to family homes."

He added that prices had risen up to 15pc within the past year due to growing demand.

More than half of the properties available are commercial.

The top priced property is a bank investment building at 14 Liberty Square, Co Tipperary, currently trading as AIB Bank. It has a reserve of €2.15m to €2.3m.

Irish Independent

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