PROPERTY AUCTIONS IN IRELAND IN 2012.

NAMA has previously stated that it will not have a "giant" public auction of the properties linked to the loans it controls. However, NAMA has said that it might "encourage" developers to sell properities by auction. Depending on the numbers involved, developers may sell properties through established auction houses, or if enough properties are involved, under their own names.

Upcoming property auctions in 2012 include, on January 26th, a sale of 11 townhouses located in Cappoquin, County Cork, to be held at the Park Hotel, Dungarvan, County Waterford.

O'Donnellan & Joyce will hold an auction on February 24th,
2012, in Galway. In 2011, they claimed a selling sucess
rate of 73 houses sold (out of 79 offered).

1st March 2012 sees the first of 5 planned Allsop Space auctions, at the Shelbourne Hotel, Dublin. Allsop Space held 4 auctions in 2011, with a claimed selling rate of 92 percent (314 properties).
100 lots are on offer for this first auction, in locations across Ireland. They range in reserve price of € 650,000 for a 55 bedroom hotel on 3.21 acres in Rossnowlagh, Co. Donegal down to a € 7,500 reserve price for a 2 bedroom cottage in Carrigallen, Co. Leitrim.

The dates of the other 4 Allsop Space auctions have yet to be confirmed.

Merlin Property plan to hold an auction in the Burlington Hotel on March 20th. In November 2011, their first property auction sold 2 houses out of a total of 10 properties.

Wilson Auctions plan an auction "in early 2012" in Citywest, Dublin of around 50 properties.

Gunne Estate Agents have plans for between 6 and 8 auctions in 2012, with some of these auctions concentrating on selling property located in the north east of Ireland.



This summary is based on a recent Irish Times article.




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