CONVENT FETCHES €295,000 AT REA AUCTION SPRING AUCTION.

CONVENT FETCHES €295,000 AT REA AUCTION SPRING AUCTION. Real Estate Alliance’s property auction was held today on Tuesday the 5th of March in the Alexander Hotel, Dublin. The Auction was attended and Auctioneer Thomas Potterton kept the momentum going following the successful first sale of Lot 1, an apartment in Malahide road, which fetched 20% more than its reserve. The highlight of the auction was Lot 7 in Dundalk sold for €295,000. Bidding opened for the former convent at the reserve price of €250,000 & was chased by three bidders to the eventual selling price. Elsewhere in the country in Carlow a 2800 sq ft commercial unit sold under the hammer for €102,000 to a local business man. Other commercial units in the same development realised from €77,000 – all 25% over the reserve. In summary, a total of 10 lots were sold as a result of the Auction, with further lots potentially being sold post auction in the coming days. Auction summary: - 10 Properties sold as a result of the Auction - 4 properties were withdrawn for legal reasons & may be available at a later date. - Several others are under negotiation which narrowly failed to reach their reserve prices and are expected to sell in 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 May in Dublin. - Ends - For further information contact: www.realestatealliance.ie Philip Farrell, Real Estate Alliance 086 2503515 – philip@realestateallianceie Eimer O’Keeffe, Real Estate Alliance, 086 824 9040 – eimer@realestatealliance.ie