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Autumn auction fever

Auction fever looks set to boost activity in the Irish property market in the autumn as a number of newcomers have signalled plans. These include RTA Business Sales, headed by Con Nagle of Cork-based Global Properties.

It plans to include going concern businesses with leasehold premises as well as residential and commercial property freeholds. RTA currently has more than 150 Irish businesses for sale and it plans an auction in Dublin for more than 20 properties around mid September.

Meanwhile Merlin Group, which specialises in machinery auctions, plans to expand into property auctions and hopes that estate agents will avail of its services. It already has 40 properties committed for an auction in either September or October in the Burlington Hotel. About 30pc of these are commercial and 70pc are residential properties.

Northern Ireland agent Osborne King is also hoping to attract southern buyers and sellers to its auction on September 29 in Belfast.

These three auctions are in addition to other bumper auctions planned by better known national names such as Savills, Real Estate Alliance, GMAC and Allsopspace as well as smaller monthly auctions planned by Gunne Residential in Dublin and O'Donnellan Joyce in Galway.

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