| 9.4°C Dublin

Biggest ever 'monster' auction to flog almost 200 properties

Close

Local estate agents were critical of what they called "overuse" of the Dublin-based Allsop Space "monster" auction sale format

Local estate agents were critical of what they called "overuse" of the Dublin-based Allsop Space "monster" auction sale format

Local estate agents were critical of what they called "overuse" of the Dublin-based Allsop Space "monster" auction sale format

IRELAND'S biggest ever "monster" auction is set to take place at the RDS on February 25 next with plans to sell 190 different properties at one continuous end-to-end sales session. A combined reserve value of €27m has been set.

The record-breaking sales session planned by Allsop Space, will include 50 more properties than the company's previous record setting session in December which saw 140 lots auctioned and 123 sold under the hammer in a session which took eight hours of continuous bidding involving two auctioneers working in alternate shifts.

That session was attended by almost 2,000 registered buyers and produced a sales tally of €24m.

This time the lots are a mixture of residential, commercial and land, and include 81 houses (the largest ever number), 17 apartments, 18 land lots, 30 retail/shops, 10 offices, one pub, 18 industrial units and two housing developments.

In order to make enough time to get through the lots, the auctioneers will start at 9am on the day. The previous session started at 11.30am and ended at 7.30pm.

The firm's Director of Auctions, Robert Hoban said: "The open and transparent approach to selling and buying of property has been clearly demonstrated by the number of properties we are bringing to the open market on February 25 in Dublin.

"We have decided to begin the auction at 9 am in order to get through the process in an efficient and timely manner.

"Would-be buyers, sellers and other interested parties would be advised to arrive early at the RDS. We look forward to breaking more records this month."

Mr Hoban also reiterated the Allsop Space pledge that no repossessed family homes would be sold at any of their auctions, a pledge given to David Hall and the Board of the Irish Mortgage Holders Organisation and to many leading politicians.

Properties on offer include a development of eight modern homes, comprising mostly two-bedroom mews houses at Bishopstown in Cork, which are reserved at €750,000.

Meantime vendors of a €750,000 home in Clonskeagh could use the proceeds to bid for the 14 shops – an entire Galway City Shopping Centre, which is being guided at that price.

Irish Independent