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Three Cavan properties sold at Allsop, pub receives no bids

Wednesday, 11th December, 2013 1:19pm
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Three Cavan properties sold at Allsop, pub receives no bids
Three Cavan properties sold at Allsop, pub receives no bids

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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