Upcoming Auctions

REA Sothern are holding a Property Auction on the 11th of December

REA Sothern are holding a Property Auction on the 11th of December at the Seven Oaks Hotel in Carlow. Two properties will be going under the hammer on this date - at 3pm and at 4pm.
More Details

Auction of Former Development Lands in Nenagh, Co. Tipperary on 4th December 2014 at 3pm

Auction to be held of Former Development Lands (8.09 ha) in Nenagh, Co. Tipperary on 4th December 2014 at 3pm.
REA Eoin Dillon are holding an Auction on Thursday, 4th December 2014 at 3pm in the Ormond Hotel, Nenagh, Co. Tipperary. The subject lands are an impressive parcel of former development lands comprising of 8.09 ha (20 acres) available in one lot with long term development potential (subject to Planning Permission).
AMV €200,000 inc VAT.
Contact REA Eoin Dillon on 067-33468 or info@readillon.ie
More Details

REA members hold auctions for clients in 50 locations nationwide

Real Estate Alliance members can sell your property by private treaty or by auction. Talk to your local agent about the auction process as this may be a more suitable vehicle to sell your property or land.

Auction News

Auction in Limerick on the 20th of November a huge successNov-2014

REA O'Connor Murphy held an Auction on the 20th of November at 12pm in the Strand Hotel. Contact REA O'Connor on 061279300. Four properties went under the hammer with all Lots selling in excess of the reserves. Main Development Land at Rosmor made €590,000 with a guide at €225,000 to €275,000.
Retail unit at Woolworth Lane, Limerick
Building with potential at Myles Street, Limerick
Industrial Unit at 4B Eastway Business Park, Ballysimon Road, Limerick
DEVELOPMENT LANDS at Rosmor, Old Cork Road, Limerick. More Details

REA Sothern are holding a Property Auction on the 11th of DecemberNov-2014

REA Sothern are holding a Property Auction on the 11th of December at the Seven Oaks Hotel in Carlow. Two properties will be going under the hammer on this date - at 3pm and at 4pm.
More Details

Auction of Former Development Lands in Nenagh, Co. Tipperary on 4th December 2014 at 3pmNov-2014

Auction to be held of Former Development Lands (8.09 ha) in Nenagh, Co. Tipperary on 4th December 2014 at 3pm.
REA Eoin Dillon are holding an Auction on Thursday, 4th December 2014 at 3pm in the Ormond Hotel, Nenagh, Co. Tipperary. The subject lands are an impressive parcel of former development lands comprising of 8.09 ha (20 acres) available in one lot with long term development potential (subject to Planning Permission).
AMV €200,000 inc VAT.
Contact REA Eoin Dillon on 067-33468 or info@readillon.ie
More Details

Borrisokane Lands Sell at Auction - REA DillonNov-2014

On the 30th October 2014, REA Eoin Dillon held a public auction at the Ormond Hotel, Nenagh, Co Tipperary in relation to 5.56 hectares (13.72 acres) of former development lands at Bushypark, Borrisokane, Co Tipperary.  The lands once had planning permission for 41 houses and provision for a further 28 houses.  They were also subject to a right of way and way-leave.  The advised minimum value was €150,000.

The auctioneer opened the auction seeking bids of €150,000 and dropped in €10,000’s before the first bidder a local farmer and contractor got the bidding off.  A local solicitor then immediately bid €125,000 and one more bid of €5,000 being received to bring the bidding to €130,000, from there on the bidding was fast and a two horse race ensued with25 bids of €2,500 being made before the auctioneer broke to discuss the matter with the vendors at €192,500 and to give the bidders a chance to catch their breath.   On his return the auctioneer immediately announced that the property was on the market and a bid of €200,000 was received from the farmer/contractor.  The farmer and solicitor quickly exchanged bids of €2,500 before the hammer fell to the farmer/contractor at €215,000.  The sale price represented a price of €15,670 per acre (€38,722 per hectare).  Speaking after the Auction the auctioneer said that the sale was an important step in drawing a line in the sand and restoring confidence in the market that the development land market had bottomed out and there was a market for good quality well located lands.   The same agent also agreed the sale of 7.6 acres of lands at Coolaholloga, Nenagh by Private treaty on the same day for what is believed to be close to €8,600 per acre.  Rea Dillon will shortly be auctioning over 20 acres of former development lands at Tyone Nenagh.  The lands once had the benefit of planning permission for over 200 houses and will be offered for sale by auction on the 6thof December with a guide price of €200,000 inc VAT. 

THREE LOTS FOR SALE BY AUCTION WITH REA SOTHERNJul-2014


For Sale by Public Auction, Seven Oaks Hotel, Carlow
7thAugust, 2014 at 3:30 p.m.
Solicitor: Cyril Osborne, RA Osborne & Son, Athy, Co. Kildare

Lot 1:

C. 8.9 acres (3.6 HA) at Castleroe West, Maganey, Co. Kildare
In one division, these lands offer an opportunity to adjoining/nearby farmers to add to their existing holding.
The lands, which are slightly elevated offer superb views of the Killeshin hills to the west, perhaps allowing a qualifying applicant to construct a dwelling, (subject to PP).  The lands are approx. midway between Carlow and Athy, near the Three Counties pub and Levitstown.
AMV: €70,000

Lot 2
C. 16.4 acres (6.26 HA) at Crooket, Maganey, Co. Kildare
Set out in one division, these lands have frontage to two roads.  Though in need of some reclamation, neighbouring lands show what can be done. Suit neighbouring farmers, or those in the vicinity looking for an out-farm.
AMV: €115,000

Lot 3
Castleroe East, Maganey, Co. Kildare
2 bed cottage on c. 0.6 acre (0.25 HA) site in need of complete renovation.  Situated in a particularly scenic area with Kilkea, Athy and Castledermot to the north and Carlow town to the south.  Though in need of renovation, this fact is reflected in a low reserve.  This fine site offers potential, and due to its elevation has lovely views of the surrounding countryside.
AMV: €65,000


Successful Auction at Ard Gaoithe, Clonmel - c.75 acres for €1,565,000Jul-2014

c. 75 Acres at Ard gaoithe Clonmel, Tipperary sold at auction by REA stokes & Quirke today for €1,565,000
http://www.realestatealliance.ie/commercial/brochure/2855816

REA members hold auctions for clients in 50 locations nationwideJul-2014

Real Estate Alliance members can sell your property by private treaty or by auction. Talk to your local agent about the auction process as this may be a more suitable vehicle to sell your property or land.

South East Regional Auctions in Friday 18th July ResultsJul-2014





REA’s South East Regional Auctions in Friday 18th July
Venue “Dooley’s Hotel, Waterford City on Friday 

7 properties were withdrawn by client the morning of the event. 8 Properties went under the hammer. 5 sold at Auction. 

Lot No.Property
Status
Price

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15


Upper Main Street, Graiguenamanagh, Co. Kilkenny.
150 The Laurels, Tullow Rd, Carlow.
Upper Kilree Street, Bagenalstown, Co. Carlow.
Murphys, Castlehill, Carlow.
U2, Site 7, Askea Bus Park, O’Brien Rd, Co. Carlow.
U3, Site 7, Askea Bus Park, O’Brien Rd, Co. Carlow.
2, St.Catherines Hall Waterford.
49/49A, Spring Garden Alley, Waterford.
Hobble Court, Leamy Street, Waterford.
Clogheen Service Centre & Oil Depot
Killenaule, Co. Tipperary
Main Street, Coolgreany
Spa Bar, Johnstown
Main St., Rathdowney,
The Whiskey Shop, Crettyard,Co Laois

W/D
W/D
SOLD
W/D
W/D
W/D
SOLD
SOLD
W/D
W/D
W/D
SOLD
W/D
W/D
SOLD


€50,000



€55,000
€52,000



€56,000


€30,000

REA South East Auction Disrupted by Land League.Jul-2014

Last Friday’s REA’s Regional Auction held in Dooley’s Hotel in Waterford on the 18th of July 2014
took an unexpected twist when members of the land league objected to the properties being offered for sale. The auctioneer appointed to sell the lots, Harry Sothern, engaged with the protesters and asked them which specific properties had they a problem being offered for sale. Solicitor, John Foley, Bagenalstown, challenged the protesters, as he was acting for vendors of a pub in Graiguenamanagh, which was not a repossessed property.

After some exchanges, the protesters agreed that they would not object to any property being offered for auction, unless a former owner objected from the floor of that property being offered for sale.

Mr. Sothern agreed to commence the auction and ask the floor first if there were any objections to the property being sold.

He proceeded to offer each lot without any objection being raised from the floor, and the auction proceeded smoothly from there on. Mr. Sothern indicated that the REA group are very careful about the properties that they take in for sale, and avoid contentious repossessions. He went on to say that many former owners of repossessed properties are keen to have finality which requires repossessed property to be sold.  Many of the repossessed properties are buy to lets and part of a portfolio held by individuals that can no longer afford to service the repayments, or in many cases, even interest only.


In order for the market to return to something approaching normality, all of these properties must be sold. Harry Sothern is MD of REA Sothern, 37 Dublin Street, Carlow.