Sunday 22 September 2019

Up to €19m of commercial lots for online auction

Service station among investment prospects

32 Lower Ormond Quay Dublin 1
32 Lower Ormond Quay Dublin 1
Ormston House in Limerick City Centre
The development site in Kells, Co Meath, is on the market with a quide of €1.2m
Donal Buckley

Donal Buckley

Up to €19m million worth of commercial, investment and development properties are expected to be among the lots featured in the BidX1 online auction on September 18 and 19.

Among the more valuable investment properties is an Applegreen service station on Main St, Tullamore Co Offaly which has a €950,000 guide price and with a current annual rent of €95,000 plus VAT it could generate a 10pc gross initial yield.

Standing on a 0.11 Hectares (0.27 acres) site, it comprises a forecourt, petrol pumps and retail unit which is let to Petrogas Group Limited, a wholly owned subsidiary of Applegreen PLC. Its lease will run until 2037 and meanwhile there's a rent review in 2022 and a break option in 2032.

Among the development properties is a site in the town of Kells, Co Meath, which was granted planning permission for 15 two-bedroom apartments and 15 three bed apartments in three blocks. Located at Bective Street, about 650 metres south of Kells Town Centre, it extends to 1.11 acres and has a €1.2 million guide price. This equates to a site price of €40,000 per apartment.

In Tallaght, Dublin 24, a 0.4 acre site with two old two-bedroom semi-detached cottages, known as 10 and 11 Old Bawn Road, has a €575,000 guide price. It is located about 1km south of Tallaght Village shopping centre.

In Dublin city centre, a three storey over basement investment prospect at 32 Ormond Quay has a €450,000 guide price. Extending to 3,378. sq ft, its ground floor is let to Camellia Nails and Spa at an annual rent of €24,867 while the other floors are vacant.

On Dublin's northside a vacant property in need of refurbishment at 185 North Circular has a €550,000 guide price. Located near Hanlon's Corner it is convenient to Phibsborough, Stoneybatter and the burgeoning Technology University at Grangegorman. The mid-terrace redbrick, three storey house is currently sub divided into seven bedsits.

A portfolio of four apartments at 48, 98B, 138C, 192C, Aras Na Cluaine, Yellow Meadows Road, Clondalkin has a €500,000 guide price. Comprising a one-bedroom apartment and three two bedroom apartments, they range in size from 75 sq. m to 85 sq. m. Two of the units are occupied and generating annual rent of €11,400 each. The other two are vacant.

In Limerick city centre two adjoining retail units extending over ground floor and basement at Ormston House, a three storey over basement premises at Patrick Street, are being sold separately. The larger of the two at 9-10 Ormston House, extends to 4,844 sq. ft and has a €300,000 guide price. It is let to Limerick Civic Trust at an annual rent of €12,000. The adjoining premises at 11 Ormston House, extends to 2,239 sq. ft. and has a €150,000 guide price. It is vacant. Ormston House is located on the corner with Ellen Street.

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