Allsop Auctions

stedabee

Hi seeing that they come up every month I think it's time to create its own thread. Have been looking over the catalogue and I must say the prices are coming down with every auction, could be that there cheeky line " max reserve prince " is pulling people in. I have been to 6 now and bid on a few but always outbid as I was looking for the best price even though the final result was still very good.

So I'm wondering what people think of this up and the coming auction in March? Any good buys or ones that stand out? Have viewed two now since Monday and so far so good....well apart from a 2 bed in clover hill over looking a halting site and kids riding there's horses in the field beside it, not exactly the site a investors likes when thinking about showing future tenants.

Any comments welcome as I'd love to hear people's views on allsop's auctions!

RATM

Allsops auctions generally have a lot of tat to be honest.

One feature about this upcoming March 1st auction is that it is the first time that there has been no units in Castleforbes Square for sale- every other auction had 2 bed apartments going for €140kish which isn't bad for the north Docklands. I'm guessing they sold all the units in there at this stage.

One property that stood out for me was this in Rathcoole.

http://www.auction.co.uk/irish/LotDetails.asp?A=845&MP=24&ID=845000014&S=L&O=A

It is on at a reserve of €150k and probably needs some work done. Nonetheless all the properties total 345sqm and sit on 2 acres of land. They offer the purchaser the opportunity to sell off the 1 bed apartments or rent them for an income, would probably get €1200-1400 per month for the three of them. All the while having your own 5 bedroom house next door. It will be interesting to see how much it goes for.

stedabee

RATM wrote: »

Allsops auctions generally have a lot of tat to be honest.

One feature about this upcoming March 1st auction is that it is the first time that there has been no units in Castleforbes Square for sale- every other auction had 2 bed apartments going for €140kish which isn't bad for the north Docklands. I'm guessing they sold all the units in there at this stage.

One property that stood out for me was this in Rathcoole.

http://www.auction.co.uk/irish/LotDetails.asp?A=845&MP=24&ID=845000014&S=L&O=A

It is on at a reserve of €150k and probably needs some work done. Nonetheless all the properties total 345sqm and sit on 2 acres of land. They offer the purchaser the opportunity to sell off the 1 bed apartments or rent them for an income, would probably get €1200-1400 per month for the three of them. All the while having your own 5 bedroom house next door. It will be interesting to see how much it goes for.

Ye castleforbes went like hot cakes, was best to buy at the earlier lots than later, I remember lots at 5-20 going for 120k and the same apartments but later lots going for a extra €20-25k. Very appealing to investors for rental income but nothing special to buy to live!

Ye that lot looks nice alright and who ever buys will get it for a good price I'd say!

This is a interesting apartment, went to see it and looks nice and well kept apart from the view out the back! If this could be bought for the asking price plus 2-3k for a few things that are needed I think it's a bargain!

http://www.auction.co.uk/irish/LotDetails.asp?A=845&MP=24&ID=845000037&S=L&O=A

anto9

>>If this could be bought for the asking price plus 2-3k for a few things that are needed I think it's a bargain! <<

If is the key word ,as it will go for E60,000 at the very least ,probably more .IMO .Thats what would put me off those alsop auctions .Any property i have been interested in ends up selling for a lot more than the low reserve they put to attract punters .
Anyway its an interesting topic OP ,and should have its own thread .

stedabee

Went to view this lot today, needs a clean up and maybe 1k to fix up but all in all its a nice little office if it goes for asking!

http://www.auction.co.uk/irish/LotDetails.asp?A=845&MP=24&ID=845000005&S=L&O=A

RATM

stedabee wrote: »

Went to view this lot today, needs a clean up and maybe 1k to fix up but all in all its a nice little office if it goes for asking!

http://www.auction.co.uk/irish/LotDetails.asp?A=845&MP=24&ID=845000005&S=L&O=A

Good yield of 20% there if it goes for asking (which it most likely won't!)

Even the car park space that comes with it could be rented too as it is just the other side of the canal.

stedabee

RATM wrote: »

Good yield of 20% there if it goes for asking (which it most likely won't!)

Even the car park space that comes with it could be rented too as it is just the other side of the canal.

Ye think im gonna make a cheeky bid on this one. Id say it will go €30k, the carpark space like you said would be worth a few thousand itself!

Devi

Did May's auction get cancelled or something? Catalogue was meant to be up tonight but when I went onto site the date for the next auction is July.

wowy

The front page says that, but when I log in, the login page still says May auction, with catalogue up this evening.

Devi

wowy wrote: »

The front page says that, but when I log in, the login page still says May auction, with catalogue up this evening.

Yea I see that now, the front page was saying may though, maybe that back page hasnt been updated yet. Have they ever skipped one before?

mel.b

You can access the May list here...http://www.auction.co.uk/irish/pastResults.asp?A=852

Devi

mel.b wrote: »

You can access the May list here...http://www.auction.co.uk/irish/pastResults.asp?A=852

Ah yea its up now.

true

Devi wrote: »

Ah yea its up now.

some great value in it too. To put it in context, I see some dwellings in it for less than six months average public sector salary.

RATM

Lots of tat as usual from Allsopps, nothing on their catalogues ever seems to give the wow factor. There seems to be a lot more commercial & industrial units on this auction than usual.

Some properties that might put the cat amongst the pigeons for prices-

Lot no.2, a one bed apartment in Sandymount on reserve for €100k. Felicity Fox have a one bed apartment in the exact same building asking €198k
http://www.daft.ie/searchsale.daft?id=677390

Lot 48, a 2 bed apartment in Hampton Wood, Finglas, on reserve at €62,500. An estate agent has offices in Hampton Wood trying to sell the remaining units. 6 months ago they were asking €125,000 for a two bed, making the Allsops reserve prices exactly 50% less than what the agents were asking. The Allsops auction will set a true value for these units and give the estate agent a long overdue wake up call.

Other than that Lot no.83 is a 3 bed house in Rush. I'm pretty sure it was up for sale in the last auction so it must have fallen through. I think they could have a hard time selling it as its attached to a pub so even €70k for a noisy 3 bed house isn't much of a bargain.

the groutch

the 2 bed apartment in Waterford is interesting, 25k reserve with a sitting tenant paying €500pm

Pawwed Rig

I like the look of the one in Fairview. It would all depend on what the sitting tenant is paying though. It is a good investment area as about a million buses pass by going to city centre. I wonder are the reserves lowballing a bit?

stedabee

true wrote: »

some great value in it too. To put it in context, I see some dwellings in it for less than six months average public sector salary.

I've found over the last few the prices are going well over, only one i regret not buying in the last was the 2 bed in city west, went for €92,500 and was massive with en-suite etc. No parking spot though and crap area unless you car a car but already your running into problems.

Had a quick look last night and nothing really stood out to me, ill be buying to rent! Gonna have another look and ill post any i fancy.

stedabee

the groutch wrote: »

the 2 bed apartment in Waterford is interesting, 25k reserve with a sitting tenant paying €500pm

Never gonna go for that, ive found that if any lot has a certain income people go mad for it even though the lease is probably gonna be up in a few months but the fact that its getting that at the moment they buy they just throw money at the unit where the smarter buyers will pick out the properties that are vacant and get them at a way better price and do the work themselves and save €10k-€20k.....no lie ive been to nearly everyone and seen the madness that goes on!

Villa05

Anyone know when the list for the October auction is out or if the auction is actually going ahead, the allsop website has no info and the links are broken
http://www.allsop.co.uk/283/irish-auctions

Brewie

Villa05 wrote: »

Anyone know when the list for the October auction is out or if the auction is actually going ahead, the allsop website has no info and the links are broken
http://www.allsop.co.uk/283/irish-auctions

It says Auction is to be confirmed & the catalogue is out W/E 20/09/2013
http://www.allsopspace.ie/

stedabee

Brewie wrote: »

It says Auction is to be confirmed & the catalogue is out W/E 20/09/2013
http://www.allsopspace.ie/

Ah cool was wondering myself? They took ages to notify that.

R0C

Catalogue still not up for this. Website now says "Catalogue available: Week commencing 23rd September 2013"..

Trish56

Catalogue is up there now.

Muahahaha

A few interesting lots for sale, normally Allsopps have nothing of interest in decent family homes but this 5 bed in Drumcondra sticks out for once, it also comes with a 2 bed mews so potential for an income as well. Its listed at €550k so will be interesting to see what it fetches at auction
http://www.allsopspace.ie/auction/lot/4779

At the very other end of the market a house in Tallaght is listed at €10,000. It looks boarded up in the photos. At a €10k listing there has to be a back story to this one, it is rare you can buy a house in Dublin for less than the cost of a car but this is one such occasion
http://www.allsopspace.ie/auction/lot/4634

the groutch

another 2 bed apt in Waterford with a €500 pm sitting tenant (lot 64)
the one in the same building in the previous auction went for 27k, reserve for this is 30k, still a bargain.

D3PO

Muahahaha wrote: »

At the very other end of the market a house in Tallaght is listed at €10,000. It looks boarded up in the photos. At a €10k listing there has to be a back story to this one, it is rare you can buy a house in Dublin for less than the cost of a car but this is one such occasion
http://www.allsopspace.ie/auction/lot/4634

If your prepared to take a gamble its an interesting one. Place could be in tatters and need a heap of cash put into it, but if not your looking at a massive ROI.

At that price somebody will take a punt at it. Id expect it could end up a reasonable bit more than the reserve.

Muahahaha

D3PO wrote: »

If your prepared to take a gamble its an interesting one. Place could be in tatters and need a heap of cash put into it, but if not your looking at a massive ROI.

At that price somebody will take a punt at it. Id expect it could end up a reasonable bit more than the reserve.

I think it could be a huge gamble, especially when you look at it like this- there are 82 houses listed for sale in Tallaght on Daft right now. The range of asking prices is from €79k up to €280k. But this one has a reserve of only €10k, which for me is unusual as Allsopps reserves are typically 15-30% below market values but this one is particularly low. It is so low that it speaks to me that if you bought it you'd never be allowed to enjoy it. I could be wrong on that but a reserve of €10k on a house in Tallaght sounds too good to be true.

Tow

Muahahaha wrote: »

At the very other end of the market a house in Tallaght is listed at €10,000. It looks boarded up in the photos. At a €10k listing there has to be a back story to this one, it is rare you can buy a house in Dublin for less than the cost of a car but this is one such occasion
http://www.allsopspace.ie/auction/lot/4634

Looks fine 4 years ago in street view But that shuttering looks like a corpo job. If they went to the bother of boarding up a private house it could have been destroyed inside.

camphor

Tow wrote: »

Looks fine 4 years ago in street view But that shuttering looks like a corpo job. If they went to the bother of boarding up a private house it could have been destroyed inside.

Could have been destroyed?

I would be all fittings are gone. Not a scrap of copper will remain and all bathroom fittings will be gone. new windows, doors, bathroom, kitchen plumbing and wiring and repairs as well as re-skimming and decoration. Budget about 70K!

upaho

Sold for €70,000

The_Morrigan

Upaho please stop resurrecting zombie threads.