Latest distressed property auction sees €30m worth up for sale

File photo of the Allsop auciton of October 2012.

Over €30m worth of distressed property is going under the hammer in Dublin today at the latest Allsop Space auction.

It follows a sit-in protest at the auctioneer’s Dublin office yesterday, after which Allsop signed a declaration not to sell any property which is the subject of a legal dispute between registered owners and banks or receivers.

Among the properties sold so far was the Boylesports building in Dundalk, Co Louth, which went for €1,875,000.

One of today’s 182 lots was a plot of land which sold for €13,000, with all proceeds going towards the LauraLynn Children’s Hospice Foundation.

"You can't measure the feelgood factor from doing something like this," said the former owner, Catherine Harold.

It's a recession at the moment, and everyone's feeling a bit down in the dumps and whatever - but everyone's got something to give."

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