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Biggest property auction yet - This time with a golf course and four storey office block

The auction at the RDS Concert Hall in Dublin will have 150 properties with a combined valuation of about €23 million.

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(Pic: Allsop Space)

A GOLF COURSE and a four storey office block are among the lots being sold at an auction next week being descibed as “record breaking” by organisers.

The auction will be held next week at the RDS Concert Hall in Dublin and will have 150 commercial and residential properties with a combined valuation of about €23 million.

The public auction is being held by Allsop Space with the venue being changed after a similar auction in July was abandoned after protestors from various groups gained access to the auction room forcing organisers to halt the proceedings.

Protests also took place at an Allsop auction at the RDS last month with the auctioneers having to confirm that no repossessed homes had been sold.

Ahead of next Tuesday’s auction, Allsop have reiterated that no repossessed family homes would be sold at any of their auctions.

The most expensive property being sold is a €2.8 million valued four storey office block in Limerick, River House on Charlotte Quay. The property is currently being occupied entirely by the Office of Public Works at an annual rent of between €340,000-€370,000 a year. The current lease with the OPW lasts until 2022.

Another of the notable lots set to go under the hammer is an 18-hole golf course together with a golf club, practice area and pitch and putt course. Woodlands Golf Course situated north west of Naas, Co. Kildare is on a 127 acre site and has a current tenancy agreement that expires at the end of this month.

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Woodlands golf course and golf club. (Pic: Allsop Space)

The most expensive residential house up for grabs in the auction is a five-bedroom semi-detached period home (top picture) on the Lower Drumcondra Road which has a reserve of between €500,000-€550,000.

The auction catalogue shows that about 90 out the properties up for sale are available at under €100,000.

The auction takes place next Tuesday 10 December 10th with registration beginning at 9 AM and the auction itself at 11 AM.

Read: ‘I didn’t do anything wrong’ – Meath man protests auction of family business >

Read: Clare hotel and Dublin Georgian house in distressed property auction >

Read: Dublin property prices up 15 per cent as rest of country shows some positive signs >

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30 Comments
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    Mute Paul Glennon
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    Dec 6th 2013, 7:18 PM

    The OPW are have 9 years left on a lease at €350k rent pa =€3.15m. The building is estimated to sell for €2.8m.
    Why dont OPW buy the building.

    253
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    Mute Michael
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    Dec 6th 2013, 7:39 PM

    Sounds like a no brainer investment I’ll just nip out to the bank and get a loan!

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    Mute David Keogh
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    Dec 6th 2013, 8:25 PM

    The costs of running a building that size can be astronomical! Paying rent is generally risk free for them as somebody else has to fix/maintain the whole thing. Even the salaries of just the security, cleaners and maintenance staff would be in the hundreds of thousands each year.

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    Mute Paul Glennon
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    Dec 6th 2013, 8:38 PM

    You don’t have a €3m asset at the end of your lease..
    Cleaners and security would be the responsibility of the tenant.

    55
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    Mute Ronan Stokes
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    Dec 6th 2013, 10:50 PM

    I will pay, 1 million dollars. ..

    17
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    Mute Little Jim
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    Dec 6th 2013, 11:37 PM

    It’s the OPW, fix and maintain is what they do.
    Allegedly.

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    Mute GatheringYourMoney13
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    Dec 7th 2013, 1:04 AM

    Yes Paul.
    You don’t have a €3m asset at the end of your lease.
    When the OPW move out and leave you with a rotting shell.

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    Mute Boo!-Fight the Board
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    Dec 7th 2013, 1:35 AM

    It will sell for alot more.

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    Mute THE VOICE
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    Dec 6th 2013, 7:36 PM

    That’s life ,
    Someones misfortune is someone Else’s gain.I am going to buy the golf golf and turn in to a game park where you can hunt Bankers,speculators,Property Developers,Builders and Politicians.. Tea, refreshments and B+B available …

    81
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    Mute Luke Sullivan
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    Dec 6th 2013, 7:50 PM

    I suspect you’re renting, and lost nothing. Maybe I’m wrong, but I don’t think so.

    Perhaps, under a fake name, and we’ll include the gusto too, you can simply identify on a human level with those that got burned – and I’m not one of them.

    13
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    Mute Luke Sullivan
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    Dec 6th 2013, 7:52 PM

    Change your name to ‘Gung Ho anonymous tough guy’. Good on you lad.

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    Mute David Keogh
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    Dec 6th 2013, 8:26 PM

    Well that escalated quickly lol!

    23
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    Mute Emmet Boyle
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    Dec 6th 2013, 7:21 PM

    I’d like to know who all the cash buyers are?

    Politicians?
    Bond holders?
    Rich Germans and Americans?

    No doubt Irish journalism will let us down just like it did for the crash!

    78
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    Mute Nigel O Keeffe
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    Dec 6th 2013, 9:00 PM

    Emmet
    Theres a programme on mon nite /rte1@9.30 ,saw the trailer
    Its called whos buying ireland..worth a look.

    39
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    Mute Emmet Boyle
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    Dec 6th 2013, 9:34 PM

    Thanks I’ll give it a watch

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    Mute Kevin Gibb
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    Dec 6th 2013, 7:08 PM

    This is getting beyond a joke, selling our souls for a song. Just to be the poster boys of Europe, history will not be kind to us :(

    36
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    Mute Tony Skillington
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    Dec 6th 2013, 7:01 PM

    Would love that golf course…my own best customer..

    31
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    Mute Seafra O'Cathain
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    Dec 6th 2013, 7:22 PM

    Go halves on it?

    28
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    Mute Chris Mackey
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    Dec 6th 2013, 7:13 PM

    I’m going to go to my bank on mon & borrow the money. Anyone want to come in as an investor!!!!!!!!!!!!!!!1

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    Mute Ciaran Harford
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    Dec 6th 2013, 7:12 PM

    nothing worthwhile re residential stuff in dublin. all commercial / investment stuff or way outside the city. holding on to that stuff until prices rise?

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    Mute Luke Sullivan
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    Dec 6th 2013, 8:15 PM

    Even though I’ve had my differences with Peter Richardson, at least the guy turned up at an allsop auction and protested.

    At least the guy has honour, self respect, dignity, humanity, conscience……..

    Jesus Christ Peter, you’re a dying breed fella……

    15
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    Mute Alan O'connor
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    Dec 6th 2013, 8:26 PM

    Protested what exactly? The sale of property slinging to people who vastly over extended themselves and had to give it back?

    Hard to understand why they weren’t just allowed to keep it alright.

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    Mute Alan O'connor
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    Dec 6th 2013, 8:27 PM

    Belonging to people.

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    Mute Kenneth
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    Dec 7th 2013, 6:00 AM

    I had a good laugh in his face :D

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    Mute Stephen Kavanagh
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    Dec 6th 2013, 7:40 PM

    Forbes magazine will be so proud that they picked us

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    Mute Sheik Yahbouti
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    Dec 6th 2013, 9:14 PM

    And the vultures circle and circle, and all comes to pass ad the ‘hedge fund’s and the “managed fund’s desire. Ever feel like a complete schmuck?

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    Mute Stephen Barry
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    Dec 7th 2013, 2:21 AM

    Heard the golf club got into trouble for not allowing women members and because of discrimination laws and equality they decided to ban men also.

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    Mute Pat St
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    Dec 6th 2013, 11:06 PM

    No doubt a chinese third party have already bought this property,the auctioneers are just going through the motions,this sale of our valuable assets must stop .NAMA must be shut down ,it is as corrupt as our elite politicians ,shut them all down

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    Mute GatheringYourMoney13
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    Dec 7th 2013, 1:16 AM

    The wealthy Chinese (Asian looking takeaway owner) and the (people with) Russians (ish accents) people will buy it all up.
    They have gone off London, New York and Paris this year.
    They are tearing into Irish market to pick up some badly built sh1tholes in Tallagh and some swapland ghost estates in Leitrim instead.

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    Mute Kenneth
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    Dec 7th 2013, 5:08 AM

    Great place to pick up a bargain, long may it continue :)

    4
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