Shopping centre under hammer for €225,000

A Waterford ghost shopping-centre once valued at €20m is to go for auction next month at a fraction of its value during the boom.

The Ross Abbey Town Centre in Ferrybank features in the Allsop Space catalogue with a guide price of between €225,000 and €275,000. It has 20 units built to shell and core level.

It is being sold on behalf of Kavanagh Fennell, receiver to Jaytar Ltd, a development company which is reported to have spent €7m building the 2.35-acre centre.

In all, 121 properties will feature in the bumper auction on July 4 at Dublin’s Shelbourne Hotel. The estate agents are hoping to raise more than €12.1m if each of the properties achieves its target guide price.