Massive Irish property auction as 18-hole golf course sells for $900,000

Woodlands Golf Course, in Kildare, sold for $90,000

A Kildare golf course has sold for just $900,000 at one of the biggest auctions in Ireland. The golf course was one of 150 largely commercial and investment properties that went under the hammer at the Allsop auction at the RDS in Dublin on Tuesday, Dec 10.

Woodlands Golf Course has a 18 hole course, a pitch & putt course, and a practice area on its 127 acres.

About 1,000 people attended the auction, which was scheduled to begin at 11:00 am, but was delayed for fifteen minutes. The delay was caused by the strict security checks on the large line of potential bidders entering the arena.

The lots had a combined reserve of about $27 million. Lots included sixteen apartments, eight blocks of apartments, 40 houses and two houses. More than half of the lots are already rented. A Limerick city office block located on Charlotte Quay sold for over €3 million ($4.1m).

A six story office building on Reuben Street in Dublin sold for $461,094 and a gas station in Co Wicklow sold for $495,504.

Not all the properties were sold. There were no bids on Soden’s Public House in Co Cavan which had a reserve price of $117,000. A community building with a reserve price of $268,398 was withdrawn despite a $137,000 offer from the Co Meath community group who wanted to buy back their building.

The Irish Examiner reported that Robert Hoban, Director of Auction at Allsop Space said the size of the auction is significant because it demonstrates a willingness to buy properties and create new jobs.

At the auction he reiterated the company’s pledge not to sell repossessed family homes.

An Allsop Space auction held in July at the Shelbourne Hotel in Dublin was canceled due to disruption from protesters.