Iberius House sold for €405,000 on behalf of receivers
Published 11/03/2014 | 05:42
The WETB (formerly VEC) is among tenants unaffected by the sale of Iberius House, on Common Quay Street, for €405,000.
Colum Murphy, of Kehoe & Associates auctioneers, offered 'Iberius House' for sale by public auction with an AMV of €350,000 in their auction rooms on Commercial Quay on Friday.
The bidding opened at €250,000 and quickly increased to €365,000. There were four bidders in total. With the bidding in excess of the reserve, the property was the placed on the market and was was sold under the hammer at €405,000.
Mr. Murphy said he was delighted with the result. Tenants in the building, including the WETB, Tengs Chinese Restaurant, Mahon and Fox, accountant James White, Wexford Rentals and Property Market and 'It's Good To Talk' counselling service, are unaffected by the sale.
The building was attracting rents totalling more than €100,000 a year.
St. Iberius was sold by Price Waterhouse Coopers on behalf of the Receivers.