Monday 16 September 2019

BidX1 auction to see €56m of property offered for sale

The highest-value land lot is a site in Rathfarnham, in Dublin 16. Located next to the M50, the site extends to 10.7 acres and is zoned residential, The guide price is €2.75m.
The highest-value land lot is a site in Rathfarnham, in Dublin 16. Located next to the M50, the site extends to 10.7 acres and is zoned residential, The guide price is €2.75m.
Ronald Quinlan

Ronald Quinlan

More than 280 commercial and residential properties with a combined reserve of €56.4m will be offered at online bidding platform BidX1's upcoming auctions on November 9 and 10.

The residential element of the sale, which takes place on November 9, is set to feature more than 180 of the properties, and accounts for €29.3m of the overall reserve. With houses and apartments available for purchase in many of Dublin's most sought-after locations, this aspect of the auction is certain to draw bidders in their numbers.

Highlights include a detached five-bedroom house complete with solar panel heating system on Castle Avenue in Clontarf, which is reserved at €970,000-€980,000; a mid-terrace three-bedroom house in Sandymount reserved at €765,000-€775,000; and a mid-terrace three-bedroom house on Rugby Road in Ranelagh which is reserved at €495,000-€505,000.

Lilliput on Sorrento Road in Dalkey, a semi-detached three-bedroom house with large gardens, provides a development opportunity since it comes with full planning permission to extend. Within walking distance of Dalkey Village, the property is reserved at €620,000-€640,000.

Outside the capital, a lakeside arts & craft-style house in Nenagh, Co Tipperary is reserved at €850,000-€900,000. Situated on more than 10 acres, featuring pleasure gardens, a walled garden and mature woodland, the house benefits from views of Lough Derg. It was completely re-built between 2000 and 2002, and comes complete with a stone-walled quay and boat slipway.

Those looking to secure apartments for investment will be well catered for at the auction. In terms of the Dublin market, BidX1 have two riverside apartments on offer: a ground and first-floor duplex apartment at Spencer Dock reserved at €370,000-€380,000, and a third-floor, two-bedroom apartment at Longboat Quay with rental income of €14,400 per annum reserved at €335,000-€345,000.

On the Southside, highlights includes a two-bedroom apartment in Dundrum reserved at €360,000-€370,000; a two-bedroom apartment in Shankill reserved at €310,000-€320,000; a two-bedroom apartment at Beacon South Quarter in Sandyford reserved at €285,000-€295,000; and a ground-level one-bedroom apartment on Pembroke Road in Dublin 4 reserved at €270,000-€280,000.

Investment highlights include 20 two-bedroom apartments on Doughiska Road in Galway. Fully occupied with an annual rent of more than €170,000, a reserve of €2m-€2.25m has been placed on the property. A portfolio of 12 apartments at Shamrock Plaza on Dublin Road in Carlow is also going under the hammer, reserved at €1.49m-€1.51m; along with five houses at St Edmund's Park in Lucan, reserved at €1.24m-€1.26m.

More than 100 commercial properties with a combined reserve of €27.1m will be offered for auction on November 10. The highest-value land lot going under the hammer is a development site on Whitechurch Road in Rathfarnham. Extending to 10.7 acres and zoned residential, the guide price is €2.75m.

A prime town-centre development site in Ennis that includes the former Our Lady's Hospital building is guiding €800,000. The site extends to 16.65 acres and has planning permission for a health care facility. Other land highlights include 11.7 acres in Cobh with a €650,000 guide price. The site has significant development potential - planning permission for 212 units was previously granted.

Also going under the hammer are: an industrial site in Naas guiding €425,000; quarry lands in Dunlavin, Wicklow guiding €400,000; and 29 acres on Greenhills Road in Wicklow guiding €390,000.

A prime retail investment on Patrick Street in Cork generating €180,000 per annum is being offered at a guide of €1.65m, while a mixed-use investment on D'Olier Street in Dublin 2 comprising retail and two apartments is guiding €650,000. An office investment at Eblana Villas in Dublin 2 let to Salus Financial for €50,000 per annum is guiding at €725,000.

Commenting on the November catalogue, BidX1 director Jonathan Fenn said: "We expect another strong performance from apartments as investors seek to purchase assets offering a strong return on investment. Portfolios in Doughiska in Galway and Shamrock Plaza in Carlow will interest those looking for a sizeable investment."

Referring to the auction's overall appeal, he added: "The size and variation in our catalogues makes them unique in the Irish property market. Opportunities to acquire incredible character properties are regular features, and the November catalogue is no different.

"A stunning arts & craft-style house overlooking Lough Derg in Nenagh comes with its own quay and 10 acres of gardens and woodland, while family homes in Dublin's most desirable locations - Sandymount, Clontarf, Dalkey, Ranelagh - should drum up lots of interest."

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