The rare chance to own a part of Georgian Dublin in the core of what is considered to be the best preserved section of this era will be going under the hammer.
26 Merrion Square in Dublin’s city centre is to be offered with a reserve not exceeding €1 Million. Merrion Square has been home to many of Dublin’s leading historic residents including Oscar Wilde and his parents. The prime freehold mid-terrace Georgian townhouse overlooks the famous park, known as Dublin’s finest surviving Georgian square.
Neighbours include the Houses of Parliament (Leinster House), the National Gallery and the National Museum. Very few sales have transacted in prime Georgian Dublin since the collapse of the property market, so this sale will be closely monitored as a benchmark for similar properties in the area.
The White Castle in County Kildare will be offered on the day with a reserve no greater than €50,000. The freehold historic building is a truly distinctive property and will be sold with vacant possession. Built in 1417 by Sir John Talbot, Viceroy of Ireland to protect the bridge over the River Barrow, the castle is steeped in history and has the potential to become a unique home.
An entire housing development in Castlemaine, County Kerry is expected to attract attention from home and abroad. The site consists of 14 houses built to shell condition, on 3.03 acres with lapsed planning permission for nine apartments, a 12-bedroom hotel and two retail units. The reserve will be set no higher than €50,000.
Robert Hoban, director of Allsop Space, commented: “We are very excited about the mix of properties offered in this catalogue. Ireland continues to attract opportunities for foreign investment as Stamp Duty in Ireland is currently at 1% on properties up to €1 million (£882,000) and 2% for more expensive properties. Values in Ireland are estimated to have fallen between 60 – 70% from the peak, depending on location.
“Recent government investment incentives include a protection from capital gains tax on any rise in capital value for the next seven years. In our catalogue, we have endeavoured to offer property that is deemed to provide investment opportunities for all types of buyers and budgets, with double figure yields on offer for many of the tenanted lots.
“Multiple lot auction sales, introduced to Ireland by Allsop Space have changed the way in which property is transacted in the Republic of Ireland. The method is a proven route to market, which through our global marketing campaigns and competitive and transparent bidding realises the true value of property on the day. 2012 will be a telling year for the property market and we plan to feature two further sales this year.
“Price movements, for example, have been expressed by reference to asking prices that can only ever indicate sellers’ aspirations. Our public auction sales, however, are totally transparent and have established a valuable register of transactional evidence.”
For further details, contact: www.allsopspace.ie