Saturday 21 July 2018

BidX1 prepares to host Europe's largest-ever online property auction

Centrally-located Number 122 St Patrick’s Street in Cork City is guiding at €1.65m
Centrally-located Number 122 St Patrick’s Street in Cork City is guiding at €1.65m
Ronald Quinlan

Ronald Quinlan

BidX1's upcoming auction is being billed as Europe's largest online auction to date, with over 380 properties set to go under the virtual hammer across three consecutive days beginning on May 30.

The online auction gets under way with the residential catalogue, which is being headlined by two Victorian properties.

Numbers 13 and 64 Grosvenor Square in Dublin 6 are reserved at €840,000 and €800,000 respectively.

While both require refurbishment, they are described as "presenting a rare opportunity to acquire a Victorian property overlooking one of South Dublin's most coveted squares".

More than a quarter of the BidX1 catalogue comprises apartments.

South Dublin and city centre lots carry the highest reserves, leading with a one-bedroom apartment at Gallery Quay in Grand Canal Dock.

The property is producing rental income of €21,600 per annum and is reserved at €350,000.

In the IFSC, a vacant two-bedroom apartment is being offered with a reserve of €315,000.

South Dublin highlights include a two-bedroom apartment in Rathgar reserved at €340,000; a two-bedroom apartment in Rathfarnham reserved at €285,000; and a one-bedroom apartment on Sussex Road in Dublin 4 which is also reserved at €285,000.

A retail investment on Cork City's premier thoroughfare headlines the commercial offering.

At a guide price of €1.65m, Number 122 St Patrick's Street is generating €180,000 in annual rental income from international footwear retailer, Schuh, which occupies the ground and first floor.

Further asset management potential is provided by the building's vacant second and third floor.

Sunday Independent

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