Three Cavan properties were sold at the biggest property auction in the history of the state yesterday (Tuesday, November 10), however, another, a Ballyjamesduff pub, failed to receive a single bid.
The properties were under the hammer at the Allsop Space monster auction, which, it was reported, had around €23 million worth of property for sale at the RDS in Dublin 4. It was expected that €16M of that valuation would be realised.
The first property went under the hammer at 11am and the auction was still going on at 7.30pm.
There was a mini-flurry of around 25 bids on a nine-acre plot in Kilcogy before it went for €85K - well in excess of the reserve of €25K.
A vacant three-bedroom house in Market Square in Bailieborough started at €20K and sold for €34K, while an Erne Court home in Belturbet with a reserve of €25K sold for €37K.
However, there were no bids received for Soden’s pub in Ballyjamesduff which had a reserve of €85K.
Top of the pile was a five-storey commercial block in Limerick, which went for €3.25M. In total, €24M was spent at the auction, 50% over what was expected. Auctioneer Richard Hoban said the vast majority of buyers were Irish.
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