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  • Merlin Enter the Property Arena as First Irish Owned Auction House

    articleAs Ireland’s largest auction specialist, Merlin Group has added a new dimension to the business with the launch of its property division.  Merlin Property will be the first dedicated Irish owned property auction house offering a full turnkey package to both buyers and sellers including financial institutions, estate agents and private individuals.  With our stellar reputation for auctioneering, we will provide an auction facility for residential, commercial, land sales and overseas property with the goal of providing excellence as we have done in many other areas of the auction market in Ireland.

    We carried out extensive groundwork for the extension into the property business whilst completing our proposal for the Deloitte Best Managed Companies Awards, which we were delighted to win in March this year.  Sustainable growth is a key requirement for the business so we decided to expand into the property market having identified the viable and potential opportunities that exist.

    We will work closely with property agents and independent sellers to offer a bespoke service. A panel of professional specialists including structural surveyors, architects, planning specialists, building contractors, financial consultants and buyers brokers, will be available for consultations both pre and post auction. The financial consultants will provide advice on relationships with financial institutions if a vendor feels that the auction is an option for them to dispose of their properties.  The broker is available to assist in defining what type of property will benefit an investor or private purchaser. Distressed property owners can avail of the free advice service from Merlin Property with suggestions on how to maximise the sale of their property at auction.

    We will provide a package with a full marketing plan and expertise for many estate agents, developers and investors who do not have the resources or means to stage an auction, delivering their properties to a global buyers platform.

    Property expert Lisa Geoghegan, who has a wealth of experience in the industry has come on board as Property Director and Ed Byrne from the Merlin Group has been appointed as Corporate Services Manager. The new division will employ 10 people and the company hopes to create 40 jobs on the back of the business launch over the coming year.  The new positions range from administrators, junior to senior negotiators, valuers an experienced commercial letting agents.

    Dave Byrne, Managing Director of Merlin Property said, “We are delighted to move into this exciting area of auctioneering.  The property market has changed dramatically over the last few years and many buyers have lost confidence in private sales when they can find better prices at an auction.  With reports of between 45,000 and 100,000 vacant properties in Ireland the auction process can help institutions and property holders to dispose of properties by pricing them to meet the demand in the market and provide a more efficient sale.

    We have 37 years of expertise as an auction house and have sold assets on behalf of financial institutions from residential homes and farms to boats, cars, vans and motorbikes over the years.  We have a long established relationship with these institutions and their response to the introduction of Merlin Property has been very positive, as it provides a neutral platform that can be used by all the various bodies.”

    Lisa Geoghegan, Merlin Property Director said, “It has become apparent that we need to establish a floor price for properties coming on to the market.  We need to help establish some stability back in to the market to reassure purchasers.  I believe auction is the best way to achieve this as over the next number of auctions we will start to observe a realistic entry level for properties to the market.  I am delighted to join Merlin Property with their expertise in the auction sector and assist them in providing the global platform for showcasing such properties on behalf of financial institutions, developers and private sellers.  We offer many services to both buyers and sellers from pre-auction consultations, an independent broker service to full fit out with rental and management services for investors.”

    The first auction will take place in the Burlington Hotel in early Autumn when properties from the commercial and residential sectors will go under the hammer. The full catalogue will be available in late summer on the Merlin Property website and there will be a four-week viewing period of properties prior to the auctions.

     

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