Monday 23 April 2018

Auction house not quite so British

Q Allsop Space is not as British as the protesters may think.

It is jointly owned by Dublin-based Space Property Investment Holdings Ltd (SPIH) which owns 100 B shares, and Allsop, the London-based auctioneering company, which owns 100 A shares.

Both shareholders have two directors on the board including SPIH founder Stephen McCarthy, who also heads up Hunters Estate Agents.

The other two directors represent Allsop and include Gary Clifford Murphy, the auctioneer who conducts most of the auctions in the Shelbourne Hotel.

In its first two years of operations, the Allsop Space Irish-based auctioneering company has sold 1,006 properties. Its first annual report showed it recorded a profit of €307,011.

While most of its initial sales included receivership properties and sales by private owners 'encouraged' by their banks, in recent times they have included about 40pc of private owners who decide to cash in their chips for a variety of reasons.

Some may well be buying into the belief expressed by the Allsop Space auctioneer Robert Hoban, who says that a number of their properties fetch prices above those achieved in private treaty sales.

Mr Hoban estimates that about half of city properties sell at auction for between 5pc and 30pc more than what they would achieve in private treaty sales.

Irish Independent

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