A two-bedroom cottage in Carrigallen, Drumcannon, County Leitrim, with a reserve price of €7,500 ($9,800) is just one of the properties listed at the latest public auction of unsold properties to be held in Dublin on March 1st.
The real estate listing shows that property is situated one mile from the town of Carrigallen, 20 miles to the west of Cavan Town and is approximately 100 miles from Dublin
The property comprises a single storey cottage situated on a “mature irregular shaped site.” The property benefits from a shed/garage adjacent to the main cottage.
Properties from a €10.3 million ($13.5m) portfolio of buildings will go on offer at the auction in the Shelborne Hotel, Dublin city, on 1st March. As well as the cottage for €7,500, the auction of 100 lots will include a 55-bed hotel, a period hotel in Dublin, and a period mill residence in County Carlow.
-------------------
Read more:
More Irish property news from IrishCentral
St. Valentine’s Day prep: ten reasons to date an Irishman - a slideshow
Dallas St. Patrick’s Parade to be cancelled unless extra funds are found
-------------------
The Allsop / Shape auction will include apartments with tenants already in place as well as industrial units and offices. The Irish Times reports that 74 percent of the properties are residential and 50 percent already have tenants in place.
Only 25 percent of these properties will sell for the listed price. The others will sell for about 33 percent over the guide price.
Robert Hoban, the director of auctions with Space, said the majority of properties will be bought using cash, with only 15 percent buying with another form of finance.
He said “It’s reflective of the market. With the lack of finance available, there’s a huge reliance on cash at the moment.”
Hoban expected a big turnout at the auction despite the fact that their last auction was in November. He said “The interest is undiminished in each auction”.
One of the high-end properties listed is Sandhouse Hotel, Rossnowlagh, County Donegal. This 55-bedroom hotel on a 3.2 acre site, with planning permission for 16 apartments, is listed at €650,000 ($853,660). Woody Allen and Mia Farrow used to stay there when they were still a couple.
The period house in Dublin (four-bedroom mid-terrace), located on Seville Road, is listed for just €35,000 ($45,968).
24 Comments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Switch to the desktop site to post a comment.BrianO | Apr 26, 2012, 10:34 AM EDT
Claredaughter, could you run that one by me again, have you ever traveled?
ballindaggin | Feb 09, 2012, 05:49 AM EST
There's no need to get personel sirpeter.
Rhuaidhri | Feb 08, 2012, 11:03 PM EST
Nearly same article appeared in the Independent over here. What both authors and many people here seem to miss is that a lot of these properties are at auction because they haven't sold on the open market. Many are in a very poor state of repair, in bad area's and/or have title issues. I don't know that any of them are evictions, there may be some which are repossession but most are not. I know this having researched them. A lot of the apartments are new builds that have been lying vacant since they were built. Quite a few of the houses have been on the market for over a year and in the case of the cheapest ones are derelict. The details on some are incorrect for example 41 Seville place at a reserve of 35k euros is not a 4 bedroomed house as described rather it is a 4 roomed house none of which have any specific purpose at the moment. It has a collapsed roof valley, water and fire damage and is filled with enough rubbish to fill a small landfill. They list the size as 1575 sq ft but most of that is not habitable. a good chunk relates to a basement with a ceiling height of less than 6ft 6inches and the bathroom mentioned is in fact a box which is lying with one side on the rear garden wall, and the other supported on a stilt of concrete blocks. This is then hung off the buildings ground-first floor return using the opening where a large window would have been. A totally cynical ploy by the auctioneers and vendors to try off load a lot of problems on the unsuspecting public. Buyer beware indeed. There might be some genuine bargains but you really need to do your homework.
Rhuaidhri | Feb 08, 2012, 10:43 PM EST
Nearly same article appeared in the Independent over here. What both authors and many people here seem to miss is that a lot of these properties are at auction precisely becuase they haven't sold on the open market. Many are in a very poor state of repair in bad area's and have title issues. I don't know that any of them are evictions, there may be some which are repossession but most are not. I know this having researched them. A lot of the apartments are new builds that have been lying idle since built while quite a few of the houses have been on the market for over a year and in the case of the cheapest ones are derelict. The details on some are incorrect for example 41 Seville place at a reserve of 35k euros is not a 4 bedroom as described rather it is a 4 roomed house not of which have any specific purpose at the moment. It has a collapsed roof with water and fire damage and is filled with enough rubbish to require a small landfill to deal with. The list the size as 1575 sq ft but most of that are is not habitable, a good chunk relates to a basement with a ceiling height of less than 6ft 6inches and the bathroom mentioned is a "room" which is in fact a box which is lying with one side on the rear garden wall, and the other supported on a stilt of concrete blocks. This is then hung of the buildings gound-first floor return with the opening where a large window would have been. A totally cynical ploy by the auctioneers and vendors to try off load a lot of problems on the up suspecting public. Buyer beware indeed. There might be some genuine bargains but you really need to do your homework.
sirpeter | Feb 08, 2012, 09:21 PM EST
ballindaggin. I heard your wife is going for less.
ballindaggin | Feb 08, 2012, 11:49 AM EST
Javoul mein herr, und now ve vill sell Ireland for 13 pieces of silver, GOTT MIT UNS
sirpeter | Feb 08, 2012, 10:19 AM EST
Hang on a second.The banks have to get rid of these houses.They are useless to them laying vacant.The people who brought these houses should not have brought them in the first place.The problem was these loans were never stress tested.Couples brought a house on the lending power of BOTH incomes.But realistically you have to be able to service a mortgage and live on one wage.Women have babies and might not be able to work.Ultimately it's the banks fault for not stress testing the loans.But the dispossessed have to take some responsibility.Anybody with a child won't be homeless.They all end up getting almost free houses from the government.A lot of those repossessed houses are brought by the government and given back to the thick stupid.They just won't own them.
angrypaddy | Feb 08, 2012, 09:16 AM EST
It must be great to live in FANTASY land DISNEY should buy the whole island and turn it into Delusional Island,then we would all visit to see the delusional people in their natural habitat up close and personal
patto69 | Feb 08, 2012, 05:42 AM EST
Well the bait thrown in by the auctioneers has done the trick.
IrelandNorth | Feb 08, 2012, 05:23 AM EST
As long as it's not bough by an absentee English landlord, rackrented to an Irish peasant farmer, who is then evicted for non-payment of extortionate rent. Where would that leave the whole Land League Movement, Fenians, and fight for Irish freedom. More importantly, will the Garda Siochana support the landlord like their RIC antecedents?
ballindaggin | Feb 08, 2012, 05:01 AM EST
Don't get too excited about this. that price tag is only there to create interest in a property that normally wouldn't have a hope of selling in this German run economy. The corrupt banks will try anything to get money out of people right now. People should ignore these auctions,and if our elected politicians had the balls to stand up to the bully-boys in Europe we wouldn't be in this mess
aoibhinn | Feb 07, 2012, 03:16 PM EST
Beautiful Irish climate? Were you here once for a week in the summer 4 years ago? UR last line - true that. Good comment PaddyGrant.
aoibhinn | Feb 07, 2012, 02:46 PM EST
I'm wishing I had an extra fifteen thousand Euros...I would love to have a tiny home in Ireland where I could come and stay for half the year and find my relatives, enjoy the beautiful Irish climate and eat healthy food. Even the poor in Ireland have a healthier and more blessed life style than most in the US
aoibhinn | Feb 07, 2012, 02:27 PM EST
Comment testing
aoibhinn | Feb 07, 2012, 02:26 PM EST
Interesting!
aoibhinn | Feb 07, 2012, 02:20 PM EST
This was a very interesting article.
Murph46 | Feb 07, 2012, 02:05 PM EST
In the US they hail the guy who caused the housing crisis -he is now holding an economic conference-what a freakin world!
JessNiLeacai | Feb 07, 2012, 11:09 AM EST
Fine if you have the cash but I have about 10e in my bank account and that has to last me til Friday. Oh the joys of living on the wonderful 'oirish' island. So come over here and live in poverty with the rest of us. It's wonderful i tell ye..
jetsnoone | Feb 07, 2012, 11:07 AM EST
Well, I'n not a socialist or commie like Obamma, but if you're going to give the people something for free, shouldn't housing come before health care? Health care needed for the truly sick, but most of the medical industry is a scam for doctors and hypochondriacs. Whereas, everybody does need a roof over their head.
beaumax99 | Feb 07, 2012, 10:43 AM EST
Totally agree with ya Paddygrant.
beaumax99 | Feb 07, 2012, 10:40 AM EST
@Paddygrant...You hit the nail on the head as many of us have. Why do you suppose the gov't and banks refuse to listen? Very bad here in the states especially in Florida. Not only are there homes vacant and abandoned but they have left behind pets as well. Very sad indeed for all people all over the world.
KerryLKing | Feb 07, 2012, 09:51 AM EST
well said paddygrant. It's still beyond me why all the banks (those here in the US...also) can't just work with the owners rather than foreclosing and invaribly taking a loss on the property value anyway. At least if they would let the owneres stay in the property & pay something then the properties would be taken care of...rather than sitting vacant & then being auctioned-off when they don't sell. These bankers are a very sad lot.....
porkheaven | Feb 07, 2012, 09:43 AM EST
whats available in co kerry?
paddygrant | Feb 07, 2012, 09:34 AM EST
It is a damning disgrace that auctions like this should be held up as something wonderful when in fact it is the very opposite, the human pain behind these eviction auctions is nothing less than tragic, families are being forced from their homes by banks who have been bailed out by the very same home owners who now find themselves unable to keep up with the mortgage demands due to the extreme austerity measures imposed by the government to fund the bailouts. People are suffering badly in Ireland, parents are going without food to try to meet the demands of the banks and these repossession auctions only serve to facilitate those vulture banks by allowing them to pick the remaining scraps of meat from the carcass of the most impoverished. people that attend these disgusting auctions are no better than bailiffs that throw desperate families onto the street in their time of need. This is a shameful time for Irish history when we allow auctioneers swoop in like vampires to suck the life blood out of Irish society. I will not be in the least bit surprised if the Anti Eviction Task Force who protested at the last eviction auction are not joined by patriotic Irish Republicans who want a stop to this destruction of Irish society.