Tuesday 21 January 2020

Fire Sale: Over 100 bargain properties under the hammer

Darby O'Gill's Hotel €515,000
Lough Sillan Lodge €95,000
Weirs Pub €450,000
Donal Buckley

Donal Buckley

A BUNGALOW for only €15,000, a Kerry hotel for €515,000 and a well-known pub for €450,000 are among over 100 properties to be sold at the auction next month.

Houses and land in an unfinished housing estate will also go under the hammer for the first time in an Allsop Space auction, which will take place next month.



The three houses are almost complete, apart from the installation of kitchens and bathrooms.



They will be sold as one lot -- along with a four-acre site at Woodlands Park, Ballyjamesduff, Co Cavan -- with a guide price of €40,000.



More than half of the properties are being sold by banks and receivers.



But the auction is no longer considered a "distressed sale" because 50 of the properties are being sold on behalf of private individuals.



The cheapest house on the catalogue (pictured) is a two-bedroomed semi-detached bungalow in Ballinagh, Crenard, Co Cavan, which has a €15,000 guide price.



Located about 10km south-west of Cavan town, it is about two kilometres from the local shops.



The hotel is the well-known hotel Darby O'Gills, in Killarney, Co Kerry. It is a 43-bedroom premises with pub and restaurant sitting on 1.46 acres. It was offered for sale last year for €950,000 or almost double the current price.



The distressed pub trade is well represented in the auction with four pubs for sale including Weirs, a trendy Dun Laoghaire pub, with a €450,000 guide price.



Bidding



The guide price for a Cavan holiday home has increased since the November auction when one sold for almost three times its guide price.



The four-bedroom log cabin at Lough Sillan Lodge, Shercock, Co Cavan, had a €50,000 guide price and after competitive bidding from a number of overseas parties sold for €131,000.



As a result the guide price for a similar log cabin, 17 Lough Sillan Lodge has almost doubled to €95,000.



The May auction will comprise of 42 houses, 38 apartments and 26 commercial lots.

Irish Independent

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