Wednesday 18 September 2019

BidX1 boosts Irish sales by 61pc to €31m in July auctions

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Donal Buckley

Donal Buckley

AS MANY as 204 lots were sold by BidX1 through its online auction spread over three days in July, raising about €31m.

Sales director Bernard Cully says that this was a 61pc increase on the figure for last July, which is traditionally a quiet time for property sales.

"It shows that investors are not being put off by the Brexit uncertainty," he added.

As well as an overall 81pc success rate, he also points out that 38 of the 48 Dublin lots were sold.

Sales included a Georgian residential investment at 57 Blessington Street, Dublin 7, which sold for its €655,000 reserve after its guide price had been reduced from €750,000 in a previous auction. The multi-let Rock Industrial Estate, Cashel, Co Tipperary, sold for €560,000 after its guide price had been reduced from €650,000 in a previous auction. Eight of its 12 units are vacant but these account for less than 38pc of the 68,000 sq ft floor area. It generates €101,290 annually.

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