Wednesday 18 October 2017

Allsop Space plan €40m property sale

Unit D, Block A at City Link Business Park on the old Naas Road
Unit D, Block A at City Link Business Park on the old Naas Road
Peter Flanagan

Peter Flanagan

More than 220 properties with a cumulative reserve rate of €40m will be auctioned off by Allsop Space at the firm's latest auction next Wednesday.

The auction will be Allsop's first of 2015 and the firm's director of auctions Robert Hoban expects Allsop's 2015 programme to pick up from where it left off in 2014.

"Last year was a positive one for the market and a ringing endorsement of auction as a method of sale, resulting in 1,081 properties selling for a total of €264.5m through Allsop Space alone," he said.

"While the market will always face new challenges, feedback from our buyers is that a very strong appetite exists for the right property in the right location. Passing income is of particular interest to investors. We anticipate that 2015 will be a very busy year as more and more properties come to the market to meet the continued demand.

"We witnessed a marked increase in first time buyers and owner occupiers bidding at auction and this is an upward trend we look forward to seeing continue in 2015," Mr Hoban added.

Among the lots going under the hammer will be an office space at unit D, block A at Citylink Business Park on the Old Naas Road in Dublin.

The auctioneers say this modern office building extends to approximately 1,711.45 sq.m. (18,415 sq ft). It is located in a modern office and logistics park with three tenants in place including Damov0 Ireland," the agents add.

That property is listed as lot 20.

Lot 40 is unit 3 Merlin Commercial Park, Doughiska, Co. Galway. Allsop say this is "substantial retail warehouse building, extending to approximately 38,000 sq ft. It is let to BWG Foods Ltd t/a Value Centreand has a reserve of between €1.85m and €2m.

Lot 50 meanwhile is units 1-10 Monaghan Retail Park, Clones Road, Monaghan Town, Co. Monaghan. This is said to be a retail park investment comprising 10 retail warehouse units. There are a number of tenants in situ including the likes of the retailers Next and Argos and Argos, among others.

That property has a reserve range of between €1.55m and €1.65m.

At the other end of the price range, are several commercial properties, including a site in Ballybunion close to the well known golf club.

The lands at Ozone Terrace extend to 2.45 acres and have a reserve range of €125,000 to €175,000.

It has planning permission for a 71 suite hotel, eight apartments, and 75 car parking spaces.

Lot 37 meanwhile is made up of nine retail units in Tralee, Co. Kerry with a reserve range of between €475,000 and €525,000

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