Posted on 8th March 2018 by Shauna Forde
The Munster Property Auction recently sold 12 of the 14 properties offered for sale via auction. The company was due to offer these properties for sale at a public auction event, however due to adverse weather conditions, the company decided to offer all properties for sale via their online auction bidding platform at www.munsterpropertyauction.ie.
“The Beast from the East” and “Strom Emma” collided and while the county watched the snow fall, our team continued to work behind the scenes for our first multi lot online only auction.
Patrick Convey, Director of The Munster Property Auction noted “while we hold public auction events we also offer properties for sale by online auctions where all bidding takes places online. We have developed the market leading online auction platform and are in the position to run multi lot online auctions with a binding sale at the end of the online auction. So despite the weather our buyers were still able to bid on their desired properties and we have a number of happy buyers and vendors also.”
On March 6th at 11am the first lot of the day opened for bidding. 8 Chapel Court located in Limerick City was sold in partnership with Dooley Group and proved to be a very popular lot with a number of parties registering online to bid. This spacious 2 bed apartment saw bids opening at €90,000 and after competitive bidding finished at €125,000. Also sold with the Dooley Group on March 6th was a fine retail unit in Limerick City. Located on Golf Link Road, Castletroy this fine investment property was sold for €60,000.
There was also a success story in Kerry, in partnership with Property Partners Daly O Se. 91 Banna Leisure Village, Ardfert had strong interest from both national and international buyers, due to its seaside location. The property was sold for €50,000 to a delighted, Dublin based buyer.
Later in the day bidding was opened on a charming 2 bed, penthouse apartment in Cork City. This property would make the ideal investment or indeed starter home. 21 Reeves Hall on Rutland Street was offered to the market in partnership with Property Partners Matt Fallon. This apartment had significant interest in the lead up to the auction and sold for €155,000. The final lot offered of the day was also in Cork. 13 Castlepoint Village, Crosshaven was for sale in partnership with Coldwell Banker, Carlton Estates. The property is a 3 bed semi detached house with excellent potential and after 35 bids sold for €217,000, €52,000 over the starting bids price.
Overall our auction team recorded an 86% success rate on the lots offered throughout the day. Patrick went onto say that “the success of our auctions is down to the extensive marketing campaign we undertake in Ireland and abroad in the lead up to the auction. We also work in close partnership with a network of 50 local partner estate agents throughout the province. This combination of both access to the local buying pool and the broader reach of the auction ensures that, regardless of the weather outside, we have the best chance of finding buyers for all properties we offer for sale.
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