An upcoming Dublin auction is offering nine two-bed redbrick houses on the same street in Dublin 7 with a reserve of just €850,000. But before the clamour to snap up a new gaff for less than €100,000, the nine properties must be sold in one Lot and to say they are in poor repair is something of an understatement.
Numbers 20, 23, 24, 25, 26, 34, 41 Kirwan Street and 2 & 4 Kirwan Street Cottages off Manor Street in Dublin 7 will feature in the Allsop online auction next Tuesday, December 13th. For sale by liquidator Duff and Phelps, the properties dating from the 1900s were originally owned by Wexford businessman, PJ Doyle.
The Bunclody impresario made his fortune in ballrooms around Ireland in the 1960s and 70s, and much of the proceeds of the showband empire was invested in a series of properties around Dublin including these ones on Kirwan St. Little was done to maintain them over the years and many of the properties have sat vacant for the past decade and fallen into dereliction, to the point where local residents have become concerned. Just one of the houses is currently rented at a rate of €4,800 per annum.
0 of 4
According to Allsop negotiator, Eva Quaid, there has been strong interest in Lot 19, and up to 70 people attended viewings both yesterday and last week. The majority are builders no doubt eyeing up a residential development opportunity in an area that has been growing steadily in popularity. The redevelopment of the Grangegorman DIT campus nearby, and the connection of the Luas Green and Red lines has boosted the area’s attractiveness in recent times.
With such strong developer interest the properties are likely to sell well above their reserve and though estimates vary, a final sale price between €1.5million and €2million might be more realistic.
Lot 19 will go on the market between 8am and 9.36am on Tuesday next on the Allsop online auction site. Bidders are required to register in advance.
