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Industrial and retail units under Allsop's hammer

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The Leinster Arms, Athy, is up for auction on February 25

The Leinster Arms, Athy, is up for auction on February 25

The Leinster Arms, Athy, is up for auction on February 25

A number of commercial properties will be going under the hammer at the next Allsop Space auction later this month.

The auction, which will take place on February 25, will see a host of retail and industrial properties go on the market.

The Paddy Power bookmakers on the Old Bray Road at Cornelscourt, Dublin 18, will be up with a reserve range of €585,000 to €625,000. The ground floor bookies extends to about 88.26sqm and has a two-bedroom apartment overhead.

The ground floor is let to Paddy Power on a 25-year FRI lease from 2003 at a rent of €51,250 per annum. The apartment is let for 18 months from May 2013 at a rent of €12,000 a year.

The Leinster Arms on Leinster Street in Athy, Co Kildare, is on the block with a reserve range of between €900,000 and €1m.

The property forms a prominent end of terrace block extending to approximately 716.26sqm comprising a bookmakers and two cafes to the ground floor, with a Chinese restaurant at first floor level.

The bookmakers is let to Paddy Power on a 20-year FRI lease from 2006 at a rent of €60,000 a year. Both cafes are let to the same tenant, trading as Deelish Bistro the first is let on a 25- year FRI lease from 2009 at a rent of €21,750 a year while the second is let on an 18-month lease from June 2013 at a rent of €13,000 per annum

The Chinese restaurant is on a 25-year FRI lease from 2008 at a rent of €36,000 PA. Finally, there is a further €17,531 being generated from rooftop telecommunications licences.

Number 77/78 Tullow Street, Carlow is made up of a ground floor bookmakers with first floor attic extending to 74.32sqm.

The entire property is let to Paddy Power on an FRI lease for 20 years from 2008 at a rent of €63,000 per annum.

It has a reserve range of between €525,000 and €575,000.

Finally 53/54 Georges St in Dun Laoghaire provides two ground floor retail units and a first floor beauty salon. The property is subject to three leases producing a total of €46,200. It has a reserve range of between €450,000 and €500,000.

Irish Independent