Wednesday 16 January 2019

€60m worth of property for sale in next BidX1 auction

Three retail units at Hampton Wood in Finglas are guiding a price of ¤1.95m
Three retail units at Hampton Wood in Finglas are guiding a price of ¤1.95m
Ronald Quinlan

Ronald Quinlan

BidX1 is to offer over 350 properties totalling more than €60m on reserve for sale across three days this month in what is being billed as its largest online auction to date.

Residential properties are going under the virtual hammer on February 22 and February 23 while the commercial auction will take place the following week, on February 28.

The auction's residential catalogue features more than 250 properties, and includes family homes in prime Dublin locations, period properties, city centre apartments and multi-unit portfolios.

The Overlook in Porterstown, Dublin 15, which headlines the catalogue is a detached five-bedroom house on more than two acres overlooking the 4th & 5th holes of Castleknock Golf Club. The property is reserved at €1m.

In south Dublin, an attractive mid-terrace three-bed house on Sandymount Road in Dublin 4 is going under the hammer with a reserve of €700,000, while a semi-detached four bed house on South Lotts Road, also in Dublin 4, is reserved at €630,000.

Other Leinster highlights include a four-bedroom house in Bray being offered with a reserve of €590,000 and a site located within a housing development in Kinsealy reserved at €425,000.

The residential catalogue offers a number of interesting period properties requiring refurbishment, and often situated on large tracts of countryside or woodland. Glebe House in Cavan - a seven-bedroom house known as the Old Rectory - is one such property. The house is on 40 acres of grounds comprised of woodland and agricultural lands. Complete with stone outbuildings and requiring refurbishment, the property carries a reserve of €230,000.

Apartments are also well represented in the catalogue, whether from an investor or owner-occupier point of view.

A portfolio of nine apartments at Santry Cross, Dublin 9, is going under the hammer with a reserve of €1,3m. All of the apartments are occupied, generating €111,900 annually.

More than 100 commercial properties meanwhile will go up for auction on February 28.

Income-producing retail portfolios make up some of the highest-value properties in the catalogue, leading with three retail units at Hampton Wood in Finglas guiding €1,695,000. Two of the units are occupied, one to Centra and one to Vanilla Hair & Beauty, with a total rent of €135,400 per annum.

Two adjoining Georgian red-bricks, 31-32 South Terrace in Cork, are the highest value office investments with a guide price of €1.1m. No 31 is let to the Cork Education and Training Board and No 32 is part-let to an individual.

Other interesting investments include the 'Trotting Track' in Portmarnock - a land-holding comprising a horse racing track, golf driving range, clubhouse, and office premises - which is guiding €550,000; and a prime south Dublin residential development site in Shankill. The latter extends to 0.88 hectares, carries planning permission for four residential units, and is being offered with a guide of €700,000.

Last month, BidX1 announced its acquisition of British property auctioneers, Andrews & Robertson, making it the second-largest auction house in Britain and Ireland.

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