Allsop Space. Statistical Analysis April - September 2011

Allsop Space Statistical Analysis April - September 2011

231 lots offered 92.6% success rate 214 lots sold 4.9m from overseas 40m raised The Auction For the period April to September 2011, Allsop Space Ltd sold 214 properties for a combined total of 40 million. The properties were disposed of over three auctions, held in April, July and September. A further sale in November will complete the 2011 series of auctions.

The Buyer A combined total of over 300,000 people read the online catalogue, from over 130 countries worldwide, over the course of the three auctions. An attendance of over 6,000 was recorded at the three events in the Shelbourne Hotel. 4,711 people inspected the properties and there were 3,941 Legal Packs issued. At each auction there have been on average over 40 registered remote bidders, the majority of which are from overseas. Interestingly, most overseas bidders were outbid by Irish purchasers. The below represents a breakdown of the buyer profile: Type Development 11% Unknown 3% Finance With Bank Finance 14% Owner Occupier 29% Buy to Let Investor 57% Without Bank Finance 86% Origin Overseas 13% Dublin 29% Regions 58%

The Property The average catalogue comprises a broad mix of property types and locations, both tenanted and untenanted. Whilst primarily residential, there has been an interesting mix of commercial properties sold, with healthy interest in income-producing Lots, from both home and abroad. The below represents a breakdown of the types of property sold. Type Tenancy Commercial 18% House 41% Apartment 41% Vacant 51% Tenanted 49% Location Commercial Mixed Use / Block 10% Industrial 8% Office 3% Rest of Country 49% Dublin 51% Public House 10% Land/Site 16% Retail 53%

The Price It is interesting to analyse the relationship between reserve price and sale price. Of the 214 properties sold, 75% of the properties sold for a price in excess of the reserve price. The average sale price was 30% above reserve, indicating the strength of appetite for property when marketed at a fair price. The individual prices achieved, however, were quite varied, with some properties selling in and around the reserve price, and others up to 440% above reserve price. This is indicative of the unpredictability of the current market, and shows quite clearly how the market naturally finds its own level, once properties are marketed correctly and to the widest possible audience. As predicted, it is becoming quite clear that yields derived from rental income are once again emerging as the primary mechanism behind property values, for both the residential and commercial sectors. With an overall average of a 9.43% yield being returned off sale prices, the auction results are helping to reinforce the concept of true value being defined by rental potential. This is not the case in all instances, however, as owner occupiers continue to outbid investors for family homes in prime locations, as evidenced by the very strong prices achieved at auction for prime residential properties in Dublin 4 and Dublin 6, for example. Yield Analysis (Average) Houses Apartments Commercial Overall Dublin 8.36% 8.86% 13.54% 9.47% Rest of Country 7.68% 8.63% 11.40% 9.35% National 8.00% 8.80% 12.40% 9.43% Below is an analysis of the average price for the residential properties sold to date. This analysis is based on the 179 houses and apartments sold to date. It will take a number of further auctions to build a more representative analysis of the large variety of properties and locations. Price Analysis (Average) Houses Apartments Overall Dublin 388,677 150,701 225,980 Rest of Country 126,982 79,348 113,228 National 219,170 132,467 175,331

The World The interest abroad in the Allsop Space auctions has been staggering. The auctions have been widely reported on across the world s media, from The Wall Street Journal to the Sydney Morning Herald. Consistently, each auction attracts approximately 100,000 people to the online catalogue, with the visits originating from over 130 countries worldwide. As an example, below is an analysis of international interest in the September catalogue, as provided by Google Analytics.

The Results Listed below are the full results of all three auctions to date, with maximum reserve prices, sale prices, yields and buyer origin. Friday 15 th April 2011 Lot Number Property Address Description Status Purchaser Origin Maximum Reserve Sale Price Percentage Current Over Rent Yield Offered Yield Achieved April - Lot 01 1 Lensmen House, Essex Street, DUBLIN 2 Vacant Studio Apartment Sold Dublin 80,000 126,000 58% April - Lot 02 428 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Investment 1 Bed Apartment Sold Dublin 100,000 129,000 29% 10,800 10.8% 8.4% April - Lot 03 41 The Tannery, Cork Street, DUBLIN 8 Investment 1 Bed Apartment Sold Dublin 85,000 102,000 20% 11,400 13.4% 11.2% April - Lot 04 3 Chancery Court, Bride Street, DUBLIN 8 Investment 2 Bed Apartment Sold Dublin 160,000 159,000-1% 15,600 9.8% 9.8% April - Lot 05 1 Wilford Court, Bray, WICKLOW Investment 2 Bed Apartment Sold Wicklow 105,000 154,000 47% 10,800 10.3% 7.0% April - Lot 06 3 Sea View, Clifden, GALWAY Part Vacant Building Sold ENGLAND 102,500 141,000 38% 3,600 3.5% 2.6% April - Lot 07 4 Bridle Walk, Kilminchy Portlaoise, LAOIS Investment 2 Bed Apartment Sold Kilkenny 35,000 61,000 74% 5,520 15.8% 9.0% April - Lot 08 28 Bridle Walk, Kilminchy Portlaoise, LAOIS Investment 2 Bed Apartment Sold Dublin 35,000 62,000 77% 5,880 16.8% 9.5% April - Lot 09 Pharmacy, Castle Street, Roscrea, TIPPERARY Investment Retail Unit Sold Tipperary 205,000 336,000 64% 35,000 17.1% 10.4% April - Lot 10 7 Meadow Villas, Dundrum, DUBLIN 14 Vacant 3 Bed House Sold Dublin 290,000 410,000 41% April - Lot 11 Apartment 31, 25 Wolfe Tone Street, DUBLIN 1 Vacant 2 Bed Apartment Sold Dublin 85,000 120,000 41% April - Lot 12 415 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Vacant 1 Bed Apartment Sold Wicklow 100,000 116,000 16% April - Lot 13 432 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Investment 2 Bed Apartment Sold SCOTLAND 140,000 190,000 36% 13,800 9.9% 7.3% April - Lot 14 9 Hybla Court, Blackhorse Avenue, DUBLIN 7 Vacant 2 Bed Apartment Sold Dublin 90,000 107,000 19% April - Lot 15 51 Lakeshore Drive, Renmore, GALWAY Vacant 4 Bed House Sold Limerick 265,000 332,500 25% April - Lot 16 59 & 60 Murrough Drive, Renmore, GALWAY Investment 2 Houses Sold Galway 170,000 205,000 21% 17,400 10.2% 8.5% April - Lot 17 28 Chancery Court, Bride Street, DUBLIN 8 Investment 2 Bed Apartment Sold Dublin 160,000 159,000-1% 15,600 9.8% 9.8% April - Lot 18 16 Clan House, Dominick Street, GALWAY Vacant 2 Bed Apartment Sold Tipperary 70,000 74,000 6% April - Lot 19 44 Chancery Court, Bride Street, DUBLIN 8 Vacant 3 Bed Penthouse Sold ENGLAND 230,000 345,000 50% April - Lot 20 103 & 103B Rathgar Road, DUBLIN 6 Investment Building Sold Dublin 300,000 350,000 17% 30,000 10.0% 8.6% April - Lot 21 37 The Tannery, Cork Street, DUBLIN 8 Investment 1 Bed Apartment Sold ENGLAND 85,000 93,000 9% 9,900 11.6% 10.6% April - Lot 22 Unit 2 Auburn Park, Castlenock, DUBLIN 15 Investment 3 Bed Apartment Sold Dublin 190,000 207,000 9% 13,800 7.3% 6.7% April - Lot 23 Unit 5 Auburn Park, Castlenock, DUBLIN 15 Investment 3 Bed Apartment Sold Dublin 190,000 200,000 5% 13,800 7.3% 6.9% April - Lot 24 6 Rookwood View, Stocking Lane, Rathfarnham, DUBLIN 16 Investment 2 Bed Apartment Sold Kildare 145,000 141,000-3% 13,140 9.1% 9.3% April - Lot 25 106 Churchtown Road, Lower, DUBLIN 14 Vacant 4 Bed House Sold Dublin 400,000 495,000 24% April - Lot 26 108 Churchtown Road, Lower, DUBLIN 14 Vacant 4 Bed House Sold Kildare 400,000 505,000 26% April - Lot 27 17 Clan House, Dominick Street, GALWAY Vacant 2 Bed Apartment Sold ENGLAND 70,000 70,000 0% April - Lot 28 33 Bridle Walk, Kilminchy Portlaoise, LAOIS Investment 2 Bed Apartment Sold Laois 35,000 64,000 83% 5,280 15.1% 8.3% April - Lot 29 Pharmacy, 11 Lord Edward Street, Kilmallock, LIMERICK Investment Retail Unit Sold Meath 140,000 285,000 104% 32,000 22.9% 11.2% April - Lot 30 380 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Vacant 3 Bed Apartment Sold MONACO 180,000 179,000-1% April - Lot 31 Tuskar House, Johns Gate, WEXFORD 6 Apartments & 3 Units Sold SPAIN 210,000 560,000 167% April - Lot 32 Unit 11 Auburn Park, Castlenock, DUBLIN 15 Investment 2 Bed Apartment Sold Clare 165,000 159,000-4% 11,100 6.7% 7.0% April - Lot 33 Unit 12 Auburn Park, Castlenock, DUBLIN 15 Investment 2 Bed Apartment Sold MONACO 165,000 160,000-3% 12,000 7.3% 7.5% April - Lot 34 42 Raglan Lane, Ballsbridge, DUBLIN 4 Vacant 4 Bed House Sold Dublin 600,000 550,000-8% April - Lot 35 Apartment, 21 Sandy Road, GALWAY Vacant 2 Bed Apartment Sold Galway 52,500 95,000 81% April - Lot 36 18 Clan House, Dominick Street, GALWAY Vacant 2 Bed Apartment Sold Sligo 70,000 69,000-1% April - Lot 37 418 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Vacant 1 Bed Apartment Sold Dublin 140,000 161,000 15% April - Lot 38 137 Capel Street, DUBLIN 1 Vacant Retail Unit Sold Dublin 130,000 190,000 46% April - Lot 39 63 The Tannery, Cork St, DUBLIN 8 Investment 2Bed Apartment Sold FRANCE 120,000 120,000 0% 12,600 10.5% 10.5% April - Lot 40 1 Hybla Court, DUBLIN 7 Investment 2 Bed Apartment Sold Dublin 90,000 100,000 11% 9,600 10.7% 9.6% April - Lot 41 37 Braemor Park, Churchtown, DUBLIN 14 Vacant 4 Bed House Sold Meath 400,000 470,000 18% April - Lot 42 13 Rookwood View, Stocking Lane, Rathfarnham, DUBLIN 16 Investment 2 Bed Apartment Sold Meath 145,000 145,000 0% 12,900 8.9% 8.9% April - Lot 43 Unit 21 Auburn Park, Castlenock, DUBLIN 15 Investment 2 Bed Apartment Sold Dublin 165,000 160,000-3% 15,000 9.1% 9.4% April - Lot 44 Croham Hurst, Sandyford Road, Sandyford, DUBLIN 18 Vacant 6 Bed House Sold Dublin 400,000 530,000 33% April - Lot 45 W/D prior W/D prior April - Lot 46 357 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Vacant 1 Bed Apartment Sold Dublin 100,000 99,000-1% April - Lot 47 Kyle, Baltinglass, WICKLOW Vacant Farmhouse Sold MONACO 290,000 420,000 45% April - Lot 48 IPOS, Mahon Village, CORK Investment Retail Unit Sold Kildare 140,000 130,000-7% 20,000 14.3% 15.4% April - Lot 49 152 Cois na habhainn, Tuam, GALWAY Investment 3 Bed House Sold Galway 45,000 70,000 56% 7,800 17.3% 11.1% April - Lot 50 19 Clan House, Dominick Street, GALWAY Vacant 2 Bed Apartment Sold Galway 70,000 70,000 0% April - Lot 51 39 The Tannery, Cork Street, DUBLIN 8 Investment 1 Bed Apartment Sold Dublin 85,000 103,000 21% 10,800 12.7% 10.5% April - Lot 52 St Patricks Square, Newbridge, KILDARE Investment 1 Bed Apartments Sold MONACO 70,000 69,000-1% 6,000 8.6% 8.7% April - Lot 53 7 Rookwood View, Stocking Lane, Rathfarnham, DUBLIN 16 Investment 2 Bed Apartment Sold Cork 145,000 139,000-4% 13,200 9.1% 9.5% April - Lot 54 Unit 22 Auburn Park, Castlenock, DUBLIN 15 Investment 2 Bed Apartment Sold Dublin 165,000 163,000-1% 15,000 9.1% 9.2% April - Lot 55 Unit 2 Windmill Lodge, Windmill Road, Crumlin, DUBLIN 12 Investment Retail Unit Sold Kildare 120,000 220,000 83% 51,000 42.5% 23.2% April - Lot 56 Site at Estuary Road, Malahide, DUBLIN Vacant Site Sold Dublin 230,000 230,000 0% April - Lot 57 371 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Investment 2 Bed Apartment Sold Meath 140,000 140,000 0% 13,800 9.9% 9.9% April - Lot 58 34 Bridle Walk, Kilminchy Portlaoise, LAOIS Investment 2 Bed Apartment Sold ENGLAND 35,000 64,000 83% 5,520 15.8% 8.6% April - Lot 59 19 Chancery Court, Bride Street, DUBLIN 8 Vacant 2 Bed Apartment Sold Meath 160,000 160,000 0% April - Lot 60 Chancery Court, Bride Street, DUBLIN 8 Vacant Retail Unit Sold Clare 50,000 57,000 14% April - Lot 61 20 Clan House, Dominick Street, GALWAY Vacant 2 Bed Apartment Sold Galway 70,000 70,000 0% April - Lot 62 424 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Vacant 2 Bed Apartment Sold Laois 140,000 163,000 16% April - Lot 63 Pharmacy, The Square, Casteltownbere, CORK Investment Building Sold Clare 205,000 365,000 78% 47,500 23.2% 13.0% April - Lot 64 9 The Tannery, Cork Street, D8 Investment 2 Bed Apartment Sold Dublin 120,000 121,000 1% 13,200 11.0% 10.9% April - Lot 65 25 Gort Na Carraige, Corrundulla, GALWAY Vacant 4 Bed House Sold MONACO 125,000 124,000-1% April - Lot 66 14 Rookwood View, Stocking Lane, Rathfarnham, DUBLIN 16 Investment 2 Bed Apartment Sold MONACO 145,000 140,000-3% 13,200 9.1% 9.4% April - Lot 67 Rascals Pub, Arklow, WICKLOW Vacant Building Sold Wicklow 260,000 400,000 54% April - Lot 68 21 Clan House, Dominick Street, GALWAY Vacant 2 Bed Apartment Sold Galway 70,000 78,000 11% April - Lot 69 Unit 33 Auburn Park, Castlenock, DUBLIN 15 Investment 2 Bed Apartment Sold MONACO 165,000 172,000 4% 13,200 8.0% 7.7% April - Lot 70 Unit 34 Auburn Park, Castlenock, DUBLIN 15 Investment 2 Bed Apartment Sold Louth 165,000 180,000 9% 12,000 7.3% 6.7% April - Lot 71 62 The Tannery, Cork Street, DUBLIN 8 Investment 2 Bed Apartment Sold MONACO 120,000 119,000-1% 12,600 10.5% 10.6% April - Lot 72 431 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Investment 2 Bed Apartment Sold ENGLAND 140,000 165,000 18% 13,200 9.4% 8.0% April - Lot 73 464 Castleforbes Square, Upper Mayor Street, DUBLIN 1 Investment 3 Bed Apartment Sold Dublin 180,000 185,000 3% 16,200 9.0% 8.8% April - Lot 74 15 Weston Crescent, Weston Park, Lucan, DUBLIN Vacant 4 Bed House Sold Dublin 250,000 250,000 0% April - Lot 75 21 Dun Na Ri, Tinryland, CARLOW Vacant 4 Bed House Next Auction April - Lot 76 25 Alverno, Athlone, WESTMEATH Vacant 3 Bed House Sold Westmeath 50,000 49,000-2% April - Lot 77 3 Liffey Walk, Liffey Valley Park, Lucan, DUBLIN Vacant 4 Bed House Sold Sligo 130,000 161,000 24% April - Lot 78 33 Heather Hill Wood, Sleaty Road, CARLOW Vacant 4 Bed House Sold Carlow 95,000 129,000 36% April - Lot 79 36 Grange Heights, Mullingar, WESTMEATH Vacant 3 Bed House Sold Dublin 22,500 30,000 33% April - Lot 80 W/D prior W/D prior April - Lot 81 7 Hermitage Road, Lucan, DUBLIN Vacant 3 Bed House Sold Galway 155,000 181,000 17% April - Lot 82 Larraghmore, Tuam, GALWAY Vacant 4 Bed House Sold Tipperary 42,500 74,000 74% April - Lot 83 Strand Street Upper, Wicklow Town, WICKLOW Vacant Site Sold Wicklow 20,000 52,000 160% April - Lot 84 The Covet, Bostoncomon, Rathangan, KILDARE Vacant 2 Bed Cottage Sold Kildare 140,000 140,000 0% Total / Average 12,150,000 14,868,500 22% 12.0% 9.5%

Thursday 7 th July 2011 Lot Number Property Address Description Status Purchaser Maximum Percentage Current Yield Yield Sale Price Origin Reserve Over Rent Offered Achieved July - Lot 01 465 Castleforbes Square, Upper Mayor Street, Dublin 1 Vacant 2 Bed Apartment Sold ENGLAND 142,000 148,000 4% July - Lot 02 Apt 1, Linden Square, Grove Avenue, Blackrock, Co. Dublin Investment 2 Bed Apartment Sold Wexford 202,000 270,000 34% 15,600 7.7% 5.8% July - Lot 03 Unit 6 Bawnogue Shopping Centre, Clondalkin, Dublin 22 Investment Retail Unit Sold ENGLAND 120,000 139,000 16% 17,500 14.6% 12.6% July - Lot 04 2 Stepaside Villas, Stepaside, Co. Dublin Investment 2 Bed House Sold Dublin 102,500 146,000 42% 10,800 10.5% 7.4% July - Lot 05 Apartment 92B Smithfield Market, Dublin 7 Investment 2 Bed Apartment Sold Dublin 175,000 177,000 1% 14,400 8.2% 8.1% July - Lot 06 27 Knockthomas, Castlebar, Co. Mayo Vacant 3 Bed Bungalow Sold Mayo 42,000 87,000 107% July - Lot 07 5 Hibernian Avenue, Dublin 3 Vacant 1 Bed Cottage Sold Dublin 62,000 67,000 8% July - Lot 08 396 Castleforbes Sq, Block H, Upper Mayor Street, Dublin 1 Investment 2 Bed Apartment Sold Meath 142,000 145,000 2% 13,200 9.3% 9.1% July - Lot 09 3 Killarney Park, Bray, Co. Wicklow Investment Building Sold Galway 150,000 220,000 47% 22,860 15.2% 10.4% July - Lot 10 249 Upper Kilmacud Road, Stillorgan, Co. Dublin Vacant 5 Bed House Sold Westmeath 275,000 280,000 2% July - Lot 11 13 The Boulevard, Tyrrelstown, Dublin 15 Vacant 4 Bed House Sold ENGLAND 97,500 129,000 32% July - Lot 12 4a St. Fintans Villas, Blackrock, Co. Dublin Vacant Site Sold Dublin 30,000 66,000 120% July - Lot 13 1 The Bridge, Thomastown, Co. Kilkenny Vacant 2 Bed House Sold Dublin 60,000 50,000-17% July - Lot 14 Newtown Manor, New Orchard, Kilkenny City, Co. Kilkenny Vacant 4 Bed House Sold Laois 410,000 440,000 7% July - Lot 15 Apt 20, Linden Square, Grove Avenue, Blackrock, Co. Dublin Investment 3 Bed Apartment Sold Dublin 222,000 285,000 28% 15,600 7.0% 5.5% July - Lot 16 4 St Canice's Park, Glasnevin, Dublin 9 Investment 2 Bed Maisonette Sold Dublin 55,000 55,000 0% 6,400 11.6% 11.6% July - Lot 17 9 Trinity Street, Drogheda, Co. Louth Investment Unit and 4 Bedsits Available 57,500 July - Lot 18 Apartment 10 Townsville St Mary's Road, Arklow, Co. Wicklow Vacant 2 Bed Apartment Sold Wicklow 62,000 71,000 15% July - Lot 19 434 Castleforbes Square, Block J, Upper Mayor Street, Dublin 1 Vacant 1 Bed Apartment Sold Meath 105,000 132,000 26% July - Lot 20 35 Ailesbury Road, Dublin 4 Vacant 6 Bed House Sold Dublin 1,450,000 2,325,000 60% July - Lot 21 Unit 1 Windmill Lodge, Windmill Rd, Crumlin, Dublin 12 Invesment Retail Unit Sold LUXEMBOURG 42,000 54,000 29% 13,000 31.0% 24.1% July - Lot 22 Unit 3 Windmill Lodge, Windmill Rd, Crumlin, Dublin 12 Vacant Retail Unit Sold Dublin 42,000 73,000 74% July - Lot 23 1 The Green, Clover Meadows, Ferrybank, Co. Waterford Vacant 4 Bed House Sold Kilkenny 79,000 95,000 20% July - Lot 24 W/D prior W/D prior July - Lot 25 55 The Boulevard, Tyrrelstown, Dublin 15 Vacant 4 Bed House Sold Kildare 97,500 124,000 27% July - Lot 26 34 The Pines, Arklow, Co. Wicklow Vacant 4 Bed Bungalow Sold Wicklow 123,000 120,000-2% July - Lot 27 Land at Borrowaddy Road. Rathfeigh, Co. Meath Vacant Land Sold Cavan 75,000 170,000 127% July - Lot 28 W/D prior W/D prior July - Lot 29 1 & 2 West Street, Callan, Co. Kilkenny Vacant Building Sold Kilkenny 50,000 50,000 0% July - Lot 30 9 Primrose Avenue, Jigginstown, Naas, Co. Kildare Investment 3 Bed House Sold Kildare 92,000 144,000 57% 9,300 10.1% 6.5% July - Lot 31 10 Grallow Wood, Abbeyleix, Co. Laois Vacant 4 Bed House Sold Ireland 100,000 109,000 9% July - Lot 32 21 Dun na Ri, Tinryland, Co. Carlow Vacant 4 Bed House Sold SOUTH AFRICA 40,000 71,000 78% July - Lot 33 2 The Green, Clover Meadows, Ferrybank, Co. Waterford Vacant 4 Bed House Sold Waterford 79,000 110,000 39% July - Lot 34 19 Ard Aoibhinn, Innishannon, Co. Cork Vacant 3 Bed House Sold Cork 132,500 160,000 21% July - Lot 35 Cabragh, Carnaross, Kells, Co. Meath Vacant House Sold Meath 22,000 67,000 205% July - Lot 36 The Pint Pub, 28 Eden Quay, Dublin 1 Investment Public House Sold Dublin 485,000 485,000 0% 78,000 16.1% 16.1% July - Lot 37 Curraghrour East, Gortmore, Lombardstown, Co. Cork Vacant 4 Bed House Sold Cork 102,000 70,000-31% July - Lot 38 57 Park Gate, Tullow, Co. Carlow Vacant 4 Bed House Sold ENGLAND 95,000 117,500 24% July - Lot 39 25a John Dillion Street, Christchurch, Dublin 8 Vacant 1 Bed House Sold Tipperary 55,000 71,000 29% July - Lot 40 68 The Pines, Arklow, Co. Wicklow Investment 4 Bed Bungalow Sold Wicklow 123,000 120,000-2% 9,360 7.6% 7.8% July - Lot 41 W/D prior W/D prior July - Lot 42 W/D prior W/D prior July - Lot 43 16 Grallow Wood, Abbeyleix, Co. Laois Investment 4 Bed House Sold Laois 100,000 112,000 12% 7,800 7.8% 7.0% July - Lot 44 22 Ard Aoibhinn, Innishannon, Co. Cork Vacant 3 Bed House Sold Westmeath 132,500 148,000 12% July - Lot 45 360 Castleforbes Square, Upper Mayor Street, Dublin 1 Investment 1 Bed Apartment Sold Meath 105,000 134,000 28% 11,700 11.1% 8.7% July - Lot 46 1 Stepaside Villas, Stepaside, Co. Dublin Vacant 3 Bed House Sold Wexford 102,500 153,000 49% July - Lot 47 Apt 30 Spencer's Court, Summerhill Rd, Enniscorthy, Co. Wexford Investment 2 Bed Apartment Sold Wexford 30,000 70,000 133% 6,600 22.0% 9.4% July - Lot 48 2 The Bridge Street, Thomastown, Co. Kilkenny Vacant 2 Bed House Sold Kilkenny 60,000 48,000-20% July - Lot 49 Katty Barry's Pub, Mall Lane, Waterford Investment Public House Sold Carlow 185,000 232,500 26% 25,000 13.5% 10.8% July - Lot 50 11 Primrose Lane, Jigginstown, Naas, Co. Kildare Investment 4 Bed House Sold Kildare 112,000 137,000 22% 12,000 10.7% 8.8% July - Lot 51 7 Blackberry Glade, Arklow, Co. Wicklow Vacant 4 Bed Bungalow Sold Wicklow 122,000 149,000 22% July - Lot 52 The Mill House and Mill Mews, Schull, Co. Cork 3 bed House and 3 bed Mews Sold Dublin 270,000 560,000 107% July - Lot 53 33 Shanard Road, Santry, Dublin 9 Investment Building Sold Dublin 215,000 377,500 76% 43,320 20.1% 11.5% July - Lot 54 32 Villers Road. Rathgar, Dublin 6 Vacant 5 Apartments Sold Kildare 495,000 450,000-9% July - Lot 55 455 Castleforbes Square, Upper Mayor Street, Dublin 1 Investment 3 Bed Apartment Sold Meath 182,000 192,000 5% 16,800 9.2% 8.8% July - Lot 56 20 Keizer Court, Waterford City, Co. Waterford Invesment 3 Bed Apartment Sold Waterford 35,000 53,000 51% 2,640 7.5% 5.0% July - Lot 57 94 Upper Prospect Hill, Co. Galway Vacant 4 Bed House Sold Roscommon 50,000 177,500 255% July - Lot 58 Currasalagh, Lisacul, Castlerea, Co. Roscommon Vacant 4 Bed House Available July - Lot 59 53 Main Street, Longford. Co. Longford Investment Building Sold Dublin 220,000 322,500 47% 45,000 20.5% 14.0% July - Lot 60 3 The Green, Clover Meadows, Ferrybank, Co. Waterford Vacant 4 Bed House Sold Waterford 79,000 117,000 48% July - Lot 61 Eagle Lodge, Camolin, Co. Wexford Investment 4 Bed House Sold Wexford 250,000 350,000 40% 9,600 3.8% 2.7% July - Lot 62 61 Haddington Road, Ballsbridge, Dublin 4 Vacant 3 Bed House Sold Dublin 395,000 635,000 61% July - Lot 63 1-4 Quayside, McSwiney Quay, Bandon, Co. Cork Investment Building Sold Kildare 280,000 240,000-14% 37,596 13.4% 15.7% July - Lot 64 Old Road, Buncrana, Lower Ballymacarry, Co. Donegal Vacant 3 Bed House Sold Donegal 52,000 50,000-4% July - Lot 65 Avondale House, Clancy Terrace, Charleville, Co. Cork Vacant Building Sold Limerick 100,000 90,000-10% July - Lot 66 Killiney Hill Road, Killiney, Co. Dublin Vacant 2 x Houses Sold Mayo 200,000 325,000 63% July - Lot 67 Units 21, 22, 24, 26 & 27 Tramway Court, Tallaght, Dublin 24 5 Vacant Apartments Sold Dublin 250,000 250,000 0% July - Lot 68 Unit 8 Airport East, Business Park, Ballygarvan, Co. Cork Investment/Vacant Building Sold Cork 100,000 155,000 55% 19,560 19.6% 12.6% July - Lot 69 Connolly's Pub, St Brendan's Road, Portumna, Co. Galway Vacant Building Sold Galway 50,000 270,000 440% July - Lot 70 Bank Place, Cashel, Co. Tipperary Vacant Building Sold Tipperary 52,000 49,000-6% July - Lot 71 70 Ashbrook, The Moyne, Enniscorthy, Co. Wexford Vacant 3 Bed House Sold Wexford 42,500 77,000 81% July - Lot 72 4 Redwood Park, Murrintown, Co. Wexford Vacant 4 Bed House Sold Wexford 95,000 100,000 5% July - Lot 73 6 Holly Drive, Lacken Wood, Co. Wexford Vacant 3 Bed House Sold Cork 90,000 103,000 14% July - Lot 74 2 Doolargy, Ravensdale, Dundalk, Co. Louth Vacant Site/Building Sold Dundalk 50,000 85,000 70% July - Lot 75 Cloonconnor, Clairemorris, Co. Mayo Vacant 3 Bed House Sold Mayo 70,000 91,000 30% July - Lot 76 Bough, Scotstown, Co. Mayo Vacant 4 Buildings Sold Carlow 30,000 66,000 120% July - Lot 77 Unit 25, Boirthin Na Mhuillinn, Dungarvan, Co. Waterford Investment Building Available 12,000 July - Lot 78 8 Selskar Street, Co. Wexford Investment Building Sold Wexford 220,000 219,000 0% 20,400 9.3% 9.3% July - Lot 79 48 Iona Road, Glasnevin, Dublin 9 Vacant 3 Bed House Sold Dublin 360,000 710,000 97% July - Lot 80 32 Parnell Place, Cork City, Co. Cork Investment Building Sold Cork 350,000 405,000 16% 49,584 14.2% 12.2% July - Lot 81 Site Land, Drumbiggle Rd, Ennis, Co. Clare Vacant Site Available July - Lot 82 470 Castleforbes Square, Upper Mayor Street, Dublin 1 Investment 3 Bed Apartment Sold ENGLAND 182,000 262,500 44% 18,600 10.2% 7.1% July - Lot 83 W/D prior W/D prior July - Lot 84 Gurth Na Carriage, Barley Cove, Goleen, Co. Cork Vacant 4 Bed House Sold Wicklow 100,000 135,000 35% July - Lot 85 Whitelands, Ballycorus Road, Kilternan, Co. Dublin Vacant 4 Bed Bungalow Sold Dublin 455,000 567,500 25% July - Lot 86 Unit 3 Montpellier Court, Kiltalown, Tallaght, Dublin 24 Investment Retail Unit Sold Dublin 70,000 142,000 103% 18,200 26.0% 12.8% July - Lot 87 43 Headfort Grove, Kells, Co. Meath Vacant 3 Bed House Sold Ratoath 25,000 47,000 88% Total / Average 12,101,500 16,299,500 35% 13.1% 10.0%

Friday 23 rd September 2011 Lot Number Property Address Description Status Purchaser Origin Maximum Reserve Sale Price Percentage Over Current Rent Yield Offered Yield Achieved July - Lot 87 43 Headfort Grove, Kells, Co. Meath Vacant 3 Bed House Sold Ratoath 25,000 47,000 88% Sept - Lot 01 298 Custom House Harbour, IFSC, DUBLIN 1 Investment 1 Bed Apartment Sold Dublin 90,000 160,000 78% 11,700.00 13.0% 7.3% Sept - Lot 02 53 Shelbourne Park Apartments, South Lotts Road, DUBLIN 4 Vacant 2 Bed Apartment Sold ENGLAND 130,000 130,000 0% Sept - Lot 03 18 Meadow Court, Stillorgan Park, BLACKROCK, County Dublin Vacant 1 Bed Apartment Available Sept - Lot 04 3 St Lawrence Harbour Road, HOWTH, County Dublin Vacant 2 Bed Apartment Sold Meath 150,000 183,000 22% Sept - Lot 05 11 Glor Na Mara, Dock Street, GALWAY 2 x Vacant 2 Bed Apartments Sold Galway 90,000 144,000 60% Sept - Lot 06 19 Achill House, Custom House Square, DUBLIN 1 Investment 2 Bed Apartment Sold Kildare 150,000 167,500 12% 14,400.00 9.6% 8.6% Sept - Lot 07 Apt 1 95/97 Francis Street, DUBLIN 8 Investment 1 Bed Apartment Sold Dublin 74,000 92,000 24% 9,600.00 13.0% 10.4% Sept - Lot 08 13 Kilbride Way, CLARA, County Offaly Vacant 3 Bed House Sold AUSTRALIA 30,000 72,000 140% Sept - Lot 09 9 Old Coast Guard Station, Connemara, RENVYLE, County Galway Vacant 2 Bed House Sold SCOTLAND 90,000 110,000 22% Sept - Lot 10 6 Meadow Court, Stillorgan Park, BLACKROCK, County Dublin Vacant 2 Bed Apartment Sold After Waterford 240,000 240,000 0% Sept - Lot 11 30 Ti na Ri, LOUGHREA, County Galway Investment 4 Bed House Sold Galway 98,000 127,000 30% 5,400.00 5.5% 4.3% Sept - Lot 12 Lackaghmore, Tourloughmore, LACKAGH, County Galway Vacant 4 Bed House Sold Longford 122,500 164,000 34% Sept - Lot 13 W/D Prior W/D Prior Sept - Lot 14 15 Grove Park, BALLYJAMESDUFF, County Cavan Vacant 4 Bed House Sold Dublin 50,000 79,000 58% Sept - Lot 15 W/D Prior W/D Prior Sept - Lot 16 Apt 2 95/97 Francis Street, DUBLIN 8 Investment 2 Bed Apartment Sold ENGLAND 92,000 116,000 26% 12,000.00 13.0% 10.3% Sept - Lot 17 2 John Street, GOREY, County Wexford Retail with 2 Bed apt overhead Sold Wexford 50,000 120,000 140% Sept - Lot 18 2 Waverly Terrace, Kenilworth Square, Rathgar, DUBLIN 6 6 x Investment 1 Bed flats Sold Kildare 240,000 320,000 33% 35,720.00 14.9% 11.2% Sept - Lot 19 3 Waverly Terrace, Kenilworth Square, Rathgar, DUBLIN 6 8 x Investment 1 Bed flats Sold Kildare 380,000 459,000 21% 53,700.00 14.1% 11.7% Sept - Lot 20 25 Pointe Boise, Salthill, GALWAY Investment 2 Bed Apartment Sold Galway 90,000 158,000 76% 9,000.00 10.0% 5.7% Sept - Lot 21 Unit 4a Avonbeg Industrial Estate, Long Mile Road, DUBLIN 12 Industrial Sold Dublin 135,000 190,000 41% 24,000.00 17.8% 12.6% Sept - Lot 22 Apt 7 Block C, Smithfield Market, DUBLIN 7 Investment 1 Bed Apartment Sold Meath 107,500 108,000 0% Sept - Lot 23 8 Finglas Road, Glasnevin, DUBLIN 9 Retail with office overhead Available Sept - Lot 24 Tuskar House, Apartments 7-18, John's Gate Street, WEXFORD Block of 12 x 2 Bed Apartments Sold Kildare 290,000 470,000 62% 65,556.00 22.6% 13.9% Sept - Lot 25 35 Grallow Wood, ABBEYLEIX, County Laois Investment 3 Bed House Available 7,200.00 Sept - Lot 26 Unit 802 River Point, Bishop's Quay, LIMERICK Investment 2 Bed Apartment Sold Clare 75,000 88,000 17% 9,000.00 12.0% 10.2% Sept - Lot 27 Apt 3 95/97 Francis Street, DUBLIN 8 Investment 2 Bed Apartment Sold Donegal 92,000 120,000 30% 12,000.00 13.0% 10.0% Sept - Lot 28 Killinaker House, Killinaker, ROOSKEY, County Leitrim 7 Bed House on 3.7 acres Sold Longford 50,000 107,500 115% Sept - Lot 29 64/65 Prussia Street, Stoneybatter, DUBLIN 7 14 apartments & 4 units Sold Roscommon 850,000 1,150,000 35% 86,520.00 10.2% 7.5% Sept - Lot 30 Apt 6, The Court, Bolton Street, DUBLIN 1 Vacant 2 Bed Apartment Sold Dublin 80,000 121,000 51% Sept - Lot 31 W/D Prior W/D Prior Sept - Lot 32 83 Riverdale, ORANMORE, County Galway Vacant 2 Bed House Sold Galway 55,000 80,000 45% Sept - Lot 33 8 Sea Spray, Main Street, BUNDORAN, County Donegal Vacant 2 Bed Apartment Sold Galway 20,000 42,000 110% Sept - Lot 34 8 Meadow Court, Stillorgan Park, BLACKROCK, County Dublin Investment 2 Bed Apartment Available 13,200.00 Sept - Lot 35 Apt 1, Duff House, 13/15 Summerhill Parade, DUBLIN 1 Investment 2 Bed Apartment Sold Kerry 60,000 68,000 13% Sept - Lot 36 67 Rathgar Road, Rathmines, DUBLIN 6 10 x Investment 1 Bed Flats Sold LUXEMBOURG 330,000 485,000 47% 48,480.00 14.7% 10.0% Sept - Lot 37 9 Garbally Drive, BALLINASLOE, County Galway 3 Bed House & 2 Bed Annexe Sold Roscommon 45,000 88,000 96% 10,200.00 22.7% 11.6% Sept - Lot 38 Apt 22, Shelbourne Park Mews, 25 Ringsend Road, DUBLIN 4 Investment 2 Bed Apartment Sold Dublin 95,000 137,000 44% 10,800.00 11.4% 7.9% Sept - Lot 39 Unit 1008 River Point, Bishop's Quay, LIMERICK Investment 1 Bed Apartment Sold After Kildare 50,000 50,000 0% 7,200.00 14.4% 14.4% Sept - Lot 40 Ballydeloughey, (aka Ballylough), MITCHELSTOWN, County Cork Vacant 5 Bed House Available Sept - Lot 41 24 Castlewood, Clonsilla, DUBLIN 15 Investment 3 Bed House Sold Mayo 95,000 151,000 59% 11,400.00 12.0% 7.5% Sept - Lot 42 Knocklahaun, Kilanerin, GOREY, County Wexford Derelict House on 0.59 acre Sold Wicklow 30,000 30,000 0% Sept - Lot 43 9 Grallow Wood, ABBEYLEIX, County Laois Investment 4 Bed House Sold Laois 100,000 100,000 0% 7,800.00 7.8% 7.8% Sept - Lot 44 314 Richmond Court, Mount Kenneth Place, LIMERICK Vacant 2 Bed Apartment Sold Galway 37,500 37,000-1% Sept - Lot 45 5 Creggaun, Roo, CRAUGHWELL, County Galway Vacant 4 Bed House Available Sept - Lot 46 4 Bruach an Chaladh, Dominic Street, PORTUMNA, County Galway Investment 3 Bed House Sold Galway 42,000 58,000 38% 5,100.00 12.1% 8.8% Sept - Lot 47 9 Glendara, DROMOD, County Leitrim Investment 4 Bed House Available 4,200.00 Sept - Lot 48 181 Winter Garden, Pearse Street, DUBLIN 2 Investment 1 Bed Apartment Sold Dublin 85,000 127,500 50% 9,600.00 11.3% 7.5% Sept - Lot 49 102 Willow Avenue, ATHLONE, County Westmeath Vacant 4 Bed House Available Sept - Lot 50 Apt 4, 95/97 Francis Street, DUBLIN 8 Investment 2 Bed Apartment Sold Dublin 92,000 128,000 39% 12,000.00 13.0% 9.4% Sept - Lot 51 103 Queens Court, Queens Park, MONKSTOWN, County Dublin Investment 2 Bed Apartment Sold Wexford 90,000 137,500 53% 10,800.00 12.0% 7.9% Sept - Lot 52 40 McCurtain Street, GOREY, County Wexford Investment 3 Bed House Sold Wicklow 65,000 55,000-15% Sept - Lot 53 6 Grallow Wood, ABBEYLEIX, County Laois Investment 3 bed House Sold Tipperary 85,000 81,000-5% 7,800.00 9.2% 9.6% Sept - Lot 54 6 Gardiner Place, DUBLIN 1 4 storey Georgian townhouse Sold Dublin 225,000 275,000 22% 17,700.00 7.9% 6.4% Sept - Lot 55 456 North Circular Road, DUBLIN 7 13 x Investment 1 Bed Flats Available 22,800.00 Sept - Lot 56 Apt 5, 95/97 Francis Street, DUBLIN 8 Investment 2 Bed Apartment Sold Meath 92,000 135,000 47% 12,000.00 13.0% 8.9% Sept - Lot 57 161 162 & 163 Cratloe Student Village, Cratloe Wood, LIMERICK 3 x 3 Bed Vacant Apartments Sold Dublin 75,000 112,000 49% Sept - Lot 58 Former Chapman's Garage, Dublin Road, KILDARE, County Kildare Retail on large site Sold Kildare 365,000 560,000 53% 10,000.00 2.7% 1.8% Sept - Lot 59 138 Verdemont, Blanchardstown, DUBLIN 15 Investment 2 Bed Duplex Sold Leitrim 80,000 98,000 23% 9,600.00 12.0% 9.8% Sept - Lot 60 39 Woodlands Manor, GOREY, County Wexford Investment 3 Bed House Sold Wexford 70,000 70,000 0% 8,320.00 11.9% 11.9% Sept - Lot 61 W/D Prior W/D Prior Sept - Lot 62 Apt 6, 95/97 Francis Street, DUBLIN 8 Investment 2 Bed Apartment Sold Cork 92,000 123,000 34% 12,000.00 13.0% 9.8% Sept - Lot 63 Ballykeeran, Bullaun, LOUGHREA, County Galway 5 acres Sold Dublin 33,000 63,000 91% Sept - Lot 64 23 Meadow Court, Stillorgan Park, BLACKROCK, County Dublin Investment 3 Bed House Sold Dublin 275,000 275,000 0% 22,680.00 8.2% 8.2% Sept - Lot 65 28 St Alphonsus Road, Drumcondra, DUBLIN 9 Vacant 6 Bed House Available Sept - Lot 66 70 Manor Street, DUBLIN 7 4 x Investment 1 Bed Flats Sold Dublin 125,000 157,500 26% 6,344.00 5.1% 4.0% Sept - Lot 67 W/D Prior W/D Prior Sept - Lot 68 Rosslea, Adelaide Road, BRAY, County Wicklow 5 x Investment 1 Bed Flats Available 36,240.00 Sept - Lot 69 22 Meadow Court, Stillorgan Park, BLACKROCK, County Dublin Investment 4 Bed House Sold Dublin 325,000 430,000 32% 22,800.00 7.0% 5.3% Sept - Lot 70 W/D Prior W/D Prior Sept - Lot 71 Apt 7, 95/97 Francis Street, DUBLIN 8 Investment 2 Bed Apartment Sold Sligo 92,000 124,000 35% 12,000.00 13.0% 9.7% Sept - Lot 72 5 Reillys Avenue, DUBLIN 8 Investment 2 Bed House Sold Dublin 80,000 110,000 38% 10,260.00 12.8% 9.3% Sept - Lot 73 40 The Village, Porterstown Road, Clonsilla, DUBLIN 15 Investment 4 Bed House Sold Dublin 130,000 127,000-2% 11,352.00 8.7% 8.9% Sept - Lot 74 22 Greenbriar, Verdemont, Blanchardstown, DUBLIN 15 Investment 2 Bed Apartment Sold Dublin 55,000 104,000 89% 9,600.00 17.5% 9.2% Total / Average 7,361,500 9,861,500 34% 12.0% 8.9%