Monday, 20 June 2011

Cut Price Homes For Sale...

Ballsbridge home for under €400,000 in distressed auction...

Developer and landlord David Grant will see his former home on Haddington Road in Ballsbridge, Dublin 4 go under the hammer for less than €400,000, a quarter of its original asking price, at the Allsop/Space auction of distressed properties next month.

Number 61 Haddington Road failed to sell at auction in 2006 with an advised minimum value of €1.6 million, but now it’s likely to be sold for about a quarter of the price next month.

The mid-terrace building is being auctioned ‘‘on the instructions of the mortgagee in possession’’ with a reserve not to exceed €395,000, according to the auction catalogue. Grant’s former home is situated on the south side of Haddington Road, just off Baggot Street.

The accommodation is arranged over lower ground, raised ground and first floors beneath a pitched roof. Internally it’s arranged as two-self contained residential units.

It is being sold with vacant possession. In October 2009, the Dublin County Registrar’s Court heard that Grant owed the Bank of Scotland (Ireland) an outstanding balance of just over €1.3 million on a house on Haddington Road, Ballsbridge. The bank was seeking possession of the property on foot of an unpaid mortgage.

Grant was the subject of an RTE Prime Time programme in 2007 that questioned his claim to be an architect. Afterwards he had set up business as Inspire Design in east London.

But in May 2009 he was charged and ordered by Stratford London magistrates court to pay a total of €6,000 in fines and costs for falsely listing himself as an architect in the telephone directory and on his company website.

More than 40,000 people have downloaded the catalogue on the Allsop/Space website since it was released over a week ago. Robert Hoban of Space said there had been considerable interest in number 61 and that between 40 and 50 people had viewed the property during the week.

He said other properties had not garnered as much attention, and named five investment properties that are to be sold in one lot in Tallaght as an example.

Five two-bedroom apartments in the Tramway Court development in Dublin 24 will go under the hammer as one lot with a reserve price on the day not to exceed €250,000, which equates to an average of €50,000 per apartment.

These apartments have Section 50 tax relief and will be sold with vacant possession.

In total 100,000 people downloaded the catalogue of properties in the previous auction of distressed properties last April by Allsop and Space. It’s expected that a similar number will be downloaded in the lead up to the July 7 auction.

Report by Michelle Devane - Sunday Business Post

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