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Six bidders defy virus with online auction

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Popular: A portfolio of six apartments at the Ozier Park development sold for €580,000. Photo: Matthew Photography

Popular: A portfolio of six apartments at the Ozier Park development sold for €580,000. Photo: Matthew Photography

Popular: A portfolio of six apartments at the Ozier Park development sold for €580,000. Photo: Matthew Photography

DEFYING the gloom surrounding the Covid-19 crisis, competitive bidding saw an investment portfolio of six apartments in Waterford City sold at an online auction for €580,000, or €220,000 over its €360,000 guide price. As many as 800 people watched the bidding online as six bidders competed, with most of the bids coming in the last 15 minutes of the hour-long auction.

The units on the top floor at Ozier Park View Apartments, Poleberry, Waterford, were offered for sale by Sherry FitzGerald John Rohan using the Offr online property sales platform for the first time.

Each of the six apartments are occupied and were sold with tenants who pay combined annual rents of €57,300. This equates to a gross initial yield of about 9.9pc.

Known as Apartments 1D, 2D, 3D, 4D, 5D and 6D, Ozier Park View Apartments, each unit extends to 110 sq m and is in good condition. While four units are laid out with three bedrooms, two are laid out as two-bedroom units but these latter also have large utility rooms.

Although there is currently no management company in place for the block, John Rohan describes it as well maintained and accessed by electric gates. Parking is also available.

Ozier is situated 1.8km south of the city centre and within walking distance of Tesco Poleberry, TK Maxx and Odeon Cinema among other amenities. Primary and secondary schools are located in the vicinity while Waterford Institute of Technology is within walking distance.

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