Wednesday 17 October 2012

REA Sell 75% of Lots today at Auction

Real Estate Alliance’s first regional auction to be held in Ireland was deemed a success today with 75% of the lots selling as a result of the auction. In summary, a total of 14 lots were sold as a result of the Auction, with further lots potentially being sold post auction in the coming days. Auction summary: - 14 Properties sold as a result of the Auction -11 properties were sold under the hammer - 2 were sold after auction - 1 property was sold prior to auction - 6 properties were withdrawn & now available. Total raised €1.35 million. The highlight of the auction, Lot 13 in Howth sold for four times its reserve price. According to Eimer O’Keeffe, CEO, “We were delighted, in light of it being the first of our regional auctions, that there was such a large attendance today and such a huge level of interest in the lots beforehand. Since the auction ended at 1.30pm, contracts have been exchanged on a number of additional properties and we would anticipate a number of further sales will be achieved over the coming days. ” According to Philip Farrell, Business Development Director of REA, “We are pleased with the result and we look forward to our next Auction on the 22nd of November in the Strand Hotel in Limerick & the one in Dublin on the 27th of February 2013. - Ends - For further information contact: Philip Farrell, Real Estate Alliance 086 2503515 – philip@realestateallianceie Eimer O’Keeffe, Real Estate Alliance, 086 824 9040 –