Auction buyer seeks quick turnover on former convent
A former convent which was bought for €112,000 last October is due to go for auction again next Tuesday at a substantially higher guide price. It is one of 16 commercial, residential and land lots ranging in price from €5,000 to €300,000, which will be auctioned by BFR Estates in conjunction with Gibson Auctions in the Alexander Hotel, Dublin.
The former convent in New Inn, Co Tipperary, was bought last October for €112,000 – well below its then €200,000 guide price. Now the new owner hopes to achieve that guide price and the increase may be justified after the upgrading work which has been done in the meantime, including the adaptation of the mansard floor in the three-storey building into extra habitable space.
Standing on 1.8 acres, the building extends to 11,000 sq ft and accommodates 23 bedrooms. It has retained many original features; stained-glass windows, coving, 11ft ceilings and a bell tower.
A more valuable lot in the auction is a mixed-use building at 3 Main Street, Celbridge, Co Kildare, which has a €300,000 AMV.
The two-storey premises comprises 50sqm of retail area and 36sqm of offices, as well as a secure rear yard with electric gate and parking for eight cars. Dublin-based auctioneer Fitz Rearden says either the upstairs or the entire space may suit conversion to residential use as it is next to a private house.
Of the six Dublin properties in the catalogue, the most valuable is 3 Robinhood Business Park, Clondalkin, Dublin 22, a modern industrial building of offices with a €170,000 AMV. Situated at the end of the terrace, its gross external floor area of 279sqm includes a reception, about 63sqm of offices over ground and first floor to the front, a canteen and toilets.
In Dublin 8, two interconnecting shop units, D & E Pier 19, Ushers Island, near the Guinness Brewery and Heuston Station is for sale with a €70,000 AMV. Formerly a newsagents, the 110sqm premises is fully fitted and equipped.
Across the river at 6, 7 and 8 Hendrick St, Dublin 7, a single storey warehouse adjoining a newly developed fish market, near the fruit market in Dublin city centre, is for sale with an €80,000 AMV.
The other Dublin lots are a three-bedroom terraced house, 13 Toberburr Avenue, Rivermeade, St Margarets, Co Dublin, with a €120,000 AMV; a 5.7 acre site at Knightstown, Ballyboughal with a €50,000 AMV; and a two-bedroom apartment at 9, Cois Tra, Kilbush Lane, Rush, Co Dublin with a €100,000 AMV.
Other lots include houses in Waterford city as well as counties Cavan, Kilkenny and Donegal and sites in Urlingford and Athy.
Mr Rearden says all the sales are on behalf of private owners and a few of them have held their properties for some time.