Seized properties make £1.8m at Belfast auction
Published February 22nd, 2008
Properties seized by the Assets Recovery Agency have been sold for almost £1.8m at auction in Belfast.
Eighteen houses in areas including Lurgan, Coleraine, Magheralin, Carryduff and Belfast were up for sale, but only 12 were sold.
The agency expects to get about £1m back after any mortgages and loans on the houses are cleared.
The ARA said they were obtained through the proceeds of “a wide range of serious criminal activity”.
The most expensive house was a four bedroomed bungalow in Newtownabbey, which went for £240,000. This was £10,000 below the guide price and much cheaper than similar houses in the same street.
ARA Interim Director Alan McQuillan said: “The auction of these properties tonight is proof that the extensive powers under the Proceeds of Crime Act work in taking the profit out of crime.
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