Business Irish

Sunday 11 December 2016

Auction aims to raise €9.5m from 27 sales

DONAL BUCKLEY Commercial Property Editor

Published 31/03/2010 | 05:00

As many as 27 commercial and development properties with guide prices totalling almost €9.5m will feature at the Real Estate Alliance auction on April 30.

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The properties' range of Advised Minimum Values (AMV) reflects discounts of between 15pc and 30pc below asking prices for similar properties currently for sale by private treaty, according to Philip Farrell, auction manager REA.

"Overall, investors can expect a minimum 40pc to 60pc decrease from the height of the market in 2007," the director of Brophy Farrell REA added.

The auction will also feature more than 40 residential properties and the entire list of lots has a combined AMV of approximately €21m.

A modern Dublin office building of 415sqm, 24 The Courtyard, Kilcarbery Business Park, Dublin 22, has a €750,000 AMV. An industrial premises on a corner site in Sandyford Industrial Estate has an AMV of €550,000 and a three-storey retail premises in Thomas St, Dublin 8, has an AMV of €200,000.

Also included are four regional retail and six industrial properties, nine development sites, two bed and breakfasts and a Westmeath farm.

A pub, Molly's Bar Ballaghadereen, Co Roscommon, has a €550,000 AMV.

The cheapest property is a two-acre site with planning permission for a 45-bedroom nursing home at Ballybane Lower, Granlahan, Ballinlough, Co. Roscommon, which has a €130,000 AMV.

However, an even better bargain is believed to be offered by a development site in Roscrea, Co Tipperary. With street frontage at 51-53 Grove St, and The Crescent, it was valued at €1.05m in 2007 and its current AMV is €350,000.

Also featured are a number of good commercial lots including a riverside mill set in Kells, Co Kilkenny.

Further details from REA agents or www.realestatealliance.ie.

Irish Independent

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