Allsop accumulates profit of over €1m on auctions
Allsop Space staged its first large auction in Dublin at the Shelbourne Hotel in 2011.
New accounts show that Allsop Space Ltd’s accumulated profits increased from €692,071 to €1.085m in the nine months to the end of December 2015.
Allsop Space Ltd is a joint venture.
Underlining the firm’s expansion, staff numbers at Allsop Space increased from 24 to 30 in 2015.
Meanwhile, staff costs for the nine months ran out at €1.6m, compared with staff costs of €1.76m in the previous period of 12 months.
The firm’s cash pile at the end of December 2015 totalled €3.47m. That is up from €2.6m at the end of March 2015.
The firm’s online auctions have been a great success.
They recorded sales of €23m in 2015 across four auctions and the sale of 193 properties.
The growing demand for the firm’s auctions resulted in the company moving the sales venues to the RDS.
Allsop next online auction is on April 5 when more than 230 properties will be going under the hammer on the day.
The properties have a reserve value of over €38m.
Allsop said that it last online auction, held in February, delivered high returns with a success rate of more than 90%. Sale results achieved prices which were on average 53% above their reserve prices.
