Dundalk convent the pick of properties Real Estate Alliance auction

A former convent in Dundalk will be one of the featured properties at Real Estate Alliance’s first auction of 2013 in the O’Callaghan Alexander Hotel in Dublin on Tuesday March 5th.

The building in the Seatown area of the town is the dearest item amongst the 24 lots set to go under the hammer as it comes with a reserve not to exceed €250,000.

The majority of properties have disclosed reserves of under €50,000 and comprise a range of residential and commercial properties.

The cheapest on offers is a one bed apartment in Castlerea, Co Roscommon for €15,000.

According to Philip Farrell, sales manager of Real Estate Alliance: “There has been strong response since the auction’s announcement and judging by the level of interest from buyers to date, it is evident that purchasers have been more active since the turn of the year and we expect a large attendance on the day.”

Harry Sothern, Chairman of Real Estate Alliance said:  “This extensive auction will present buyers with an opportunity to secure a property at a price which may be significantly lower than purchasing by private treaty. Overall investors can expect at minimum a 60 to 80% decrease in price from the height of the market in early 2007 – there is something which investors will be keen to take advantage of.”