Belfast Telegraph

Lots totalling €42m in value up for sale in online auction

By Donal Buckley

More than 270 lots in the Republic with a combined value of around €42m will be auctioned by BidX1 at its online auctions later this month.

While about 20% of the lots at the auction on May 22 and 23 will be commercial, these are all within the range of medium-sized investors as all have guide prices of less than €1m.

The highest guide price is for a mixed use investment in the village of Ballyboughal in north county Dublin which has an €840,000 price tag and is being sold by a private investor.

Known as Unit 1-5 Gaia Cottage, Main Street, altogether its annual rents total €93,600 which equates to an 11.4% gross yield. The combined premises extend to 5,070 sq ft.

Unit 1, which is thatched, is let to Caphe Limited trading as The Brew. Units 2 and 3 are let to Arney Retail Limited until 2038. Unit 4 is let to Mario's fish and chip shop until 2034 and Unit 5 is let to Red Velvet Hair Salon.

A commercial investment property on Main Street, Celbridge, Co Kildare, has a €750,000 guide price. It generates €89,000 in annual rent of which €47,500 comes from a Paddy Power bookie shop on the ground floor and €27,000 from River King Chinese Restaurant on the first floor. Both of these leases run until May 2023.

A telecoms mast licenced to Meteor generates €14,500. The combined rent equates to a gross yield of 11.86%. With a total floor area extending to 481 sq m (5,177 sq ft), the terraced property is situated on English Row, west of the River Liffey.

A Georgian residential apartment investment at 57 Blessington Street, Dublin 7, also has a €750,000 guide price. It extends to 212 sq m (2,282 sq ft) with four floors over a basement and is laid out as seven studio flats and a basement apartment. It generates €12,660 in annual rent from two of the studios. The rest are vacant. The property is situated close to the Blessington Street junction with Mountjoy Street.

The next most valuable lot is Rock Industrial Estate, Cashel, Co Tipperary, which has a €650,000 guide price.

Barware is its largest tenant, accounting for 27,000 sq ft of the premises at an annual rent of €55,000 but Barware's lease is due to expire next October.

It stands on a 4.6-acre site on the Camus Road. Own-door access is provided for each unit with car parking to the front. The property benefits from a shared tarmac surfaced marshalling area to the front.

Belfast Telegraph