Several NW properties to go under hammer in latest Allsop sell-off

Dozens of properties in the North West, including the current home of health food outlet, Food For Thought, in Buncrana, will go under the hammer tomorrow.

Wednesday, 5th April 2017, 9:00 pm
Updated Tuesday, 9th May 2017, 6:55 pm

Houses, shops and office and apartment blocks from Burnfoot to Ballybofey are among 230 lots valued at over €38m that will be sold off in an online auction by Allsop on Wednesday.

One commercial property at Ardarvan Square in Buncrana, which, Allsop says, is currently let to an individual trading as Food For Thought, is being held on reserve for between €50,000 and €60,000.

On the residential front several four-bedroom homes will also be offered tomorrow, all starting with reserves of less than €90,000.

One house at Fairview Manor in Burnfoot, for instance, is valued at between €80,000 and €90,000; another at Leophin in Linsfort, will go under the hammer reserved at between €60,000 and €70,000; and a detached four bedroom house at Cornmill Avenue is listed with a reserve of between €75,000 and €85,000.

Elsewhere, over 70 acres of land across several sites in Greencastle, Malin, Drumkeen and Ballindrait, are also on the market.

Among the major commercial lots on offer is the Kube Building in Letterkenny, a three storey office block, which is currently home to Donegal County Council, and is valued at between €410,000 and €460,000 on reserve.

Fourteen retail Units at the Finn Valley Shopping Centre in Ballybofey, meanwhile, are reserved for between €110,000 and €130,000.

And, remarkably, 47 apartments at Navenny Shopping Centre in Ballybofey, are being offered collectively for between €245,000 and €255,000.

That works out at €5,425 per flat, although Allsop has advised that they require completion works.

Richard O’Neill, Director at Allsop, said he expected many of the properties to exceed their reserve prices.

“Our February auction delivered exceptionally high returns for sellers with a success rate of over 90 per cent and sale results running at an average of 53 per cent above reserve prices.

“With such a heated market appetite in evidence, we’re very pleased to bring this strong catalogue to the market,” he said.

Although most of the €38m reserve value is attached to 100 commerical lots, houses and apartments are also set to figure prominently tomorrow.

Featuring over 130 properties, the residential offering totals more than €17m on reserve.