Dublin pubs among lots at €38m auction
TWO popular Dublin pubs were among 131 properties selling for a combined €38.5m that went under the hammer at an auction in the RDS.
The Deadmans Inn in Lucan fetched €410,000 and the Drake Inn in Finglas village was snapped up for €620,000 at Allsop Space's latest auction, which attracted a crowd of about 1,200 people.
Two large industrial units in Swords Business Park was the most expensive lot of the day, going for €2.45m.
Just five properties broke the €1m mark when they were offered to purchasers, three in Dublin, with one in Sligo and another in Cork.
Sales were slow to start, but a heated bidding war that broke out for a commercial unit in South Dublin signalled that things were finally underway.
The Stillorgan property, which contains a retail unit on the ground floor and a restaurant on the first floor, was sold for €1,007,000. The Permanent TSB building on O'Connell Street, Co Sligo, sold for €2.4m.
Speaking after the auction, Allsop director and auctioneer, Robert Hoban, said the figures surpassed all previous auctions.
"We knew yesterday's figures would be strong, with a lot of pre-auction interest. We were very encouraged by the strength of interest coming from Irish bidders who dominated the market today," he said.
Several well-known faces were amongst the hoards in attendance, including former Presidential candidate Sean Gallagher.
Although yesterday's event went off without any disturbances, there was also a notably-heavy security presence as a number of similar events were disrupted by protest groups in the past.