A LONDON auction house failed to raise interest in a cut-price 15th century castle in Tipperary yesterday.
Ballyfinboy Castle, near Borrisokane, described by the auctioneers as “steeped in history, set amidst superb countryside”, was withdrawn after bids failed to reach the disclosed reserve price of £100,000. Bidding started at £80,000 but auctioneer Robin Cripp of Andrews and Robertson stopped after seven bids, which failed to reach higher than £93,000.
Those attending the auction in the faded elegance of the Connaught Rooms near Holburn, preferred instead to save their money for a succession of flats, terraced houses and even small shops, at prices ranging from £100,000 to £400,000. Ten holiday homes in Benalmadena on the Costa del Sol were also withdrawn after sluggish interest.
Asked if it was always going to be a challenge selling a dilapidated castle in Tipperary with no planning permission in the middle of a recession, a spokesman for the auctioneers, Jeremy Lamb said that it was for sale at a difficult time “but it’s a question of reaching the right person. No one was quite bullish enough to take it on today.”
He added that 14 people had downloaded the legal documents relating to the sale online, so there had been “a certain amount of speculative interest” in advance.
The owner of the castle, described as an Irish property investor, did not attend the auction, but would have been able to follow proceedings live on the internet. The auction house is awaiting instructions from the vendor on whether to try again in their next sale in June. The property, which has been on the market for a number of years has seen its asking price more than halved, from €250,000 in 2006.
Ballyfinboy Castle was built by the O’Kennedy clan in about 1480 but was captured by the Earl of Essex in 1599 when its owner Philip Kennedy and all defenders were put to the sword.
It has been uninhabited for more than 400 years.