Convent fetches e295,000 at REA Spring auction

Convent fetches e295,000 at REA Spring auction
Last Tuesday Dundalk’s former Sisters of Mercy convent was one of the featured properties at the Real Estate Alliance’s first auction of 2013 in the O’Callaghan Alexander Hotel in Dublin.

Last Tuesday Dundalk’s former Sisters of Mercy convent was one of the featured properties at the Real Estate Alliance’s first auction of 2013 in the O’Callaghan Alexander Hotel in Dublin.

The building in the Seatown area of the town was definitely the highlight of the auction and the most expensive item amongst the 24 lots that went under the hammer as it came with a reserve not to exceed e250,000.

Bidding opened for the former convent at the reserve price of e250,000 and was chased by three bidders to the eventual selling price of e295,000. A huge 45,000 euros over it’s reserve.

The beautiful building comprises an imposing three storey building over basement building along Seatown Place together with a detached four storey building facing onto castle road.

The existing buildings cover in excess of 20,000 Sq Ft, all on a large site of c.0.75 acres.

Located in what can truly be described as one of the most sought after addresses in Dundalk, this magnificent collection of buildings enjoys enormous road frontage onto the Castle Road and Seatown Place.

They are also within walking distance of Dundalk town centre and all its amenities.

Elsewhere in the country in Carlow, a 2800 sq ft commercial unit sold under the hammer for e102,000 to a local business man.

Other commercial units in the same development reached from e77,000 - all 25 per cent over the reserve.

In summary, a total of 10 lots were sold as a result of the Auction, with further lots potentially being sold post auction in the coming days.

4 properties were withdrawn for legal reasons and may be available at a later date.

According to Philip Farrell, Business Development Director of REA,

“We are pleased with the result and we look forward to our next Auction in May.