Three offaly properties sell at auction

Three Offaly lots sold for more than their reserve prices at the latest Allsop Space auction in the RDS in Dublin.

Offaly lots up for grabs at the auction last week included a derelict mill dating back to the 1800s and a former constabulary barracks on just over two hectares of land at Banagher, an irregular shaped parcel of land outside Clara, a house in Edenderry and a first floor retail unit in Tullamore.

A reserve price of €55,000 had been set for the Banagher land that’s situated on the western side of Banagher main street prior to the October 22 auction. On the day the lot was sold for €62,500 however.

A first floor retail unit extending to almost 150 square metres above Cafe India in Tullamore was also sold on the day. Its reserve price was set at €30,000, but it sold for €44,000.

An two storey end of terrace three bedroom house at Newberry Place in Edenderry was also up for auction on the day, with a reserve price of €55,000. It sold for €75,000.

Clara land that had been listed for auction wasn’t sold.

A total of 160 properties were auctioned off at the latest Allsop Space auction, with a total sales value of €48m. Offaly sales made up €181,500 of that total.

Commenting after the auction Robert Hoban of Allsop Space said he was pleased with the results.

“It is encouraging to see such a healthy appetite in both residential and commercial sectors,” he explained.

“The divide between urban and rural properties was evident again with the bigger premiums being achieved in the cities,” he added however, explaining that rural properties ran at approximately 25 per cent more than reserve prices compared to 40 per cent for city properties.