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Upcoming auctions offer range of opportunities for investors


For auction: Unit 24, Claregalway Corporate Park, has a €400,000 AMV and comprises four ground floor units, with 17 first floor office units, communal canteen and toilets

For auction: Unit 24, Claregalway Corporate Park, has a €400,000 AMV and comprises four ground floor units, with 17 first floor office units, communal canteen and toilets

1A Leinster Pk in Rathmine

1A Leinster Pk in Rathmine

43-45 Bolton Street, D7

43-45 Bolton Street, D7


For auction: Unit 24, Claregalway Corporate Park, has a €400,000 AMV and comprises four ground floor units, with 17 first floor office units, communal canteen and toilets

Five public property auctions are scheduled to take place in the next three weeks across the country in Dublin, Naas, Cork, Galway and Limerick.

The most valuable Dublin lots are in an I-Am Sold Leinster auction which will take place on March 7 in Dublin. These lots include a retail unit at 43-45 Bolton St, Dublin 7 which has an €855,000 guide price and a current rental income of €76,000. This suggests a gross initial yield (GIY) of 8.89pc.

It is occupied by a Spar convenience store which is located on the ground floor of an apartment block at the corner of Bolton Street and Henrietta Street.

The unit extends to 269 sq m (2,895 sq ft) over ground floor and basement with the latter accommodating office and storage. Spar's lease runs until 2041 and a rent review is due in 2021.

On Dublin's southside, a double-fronted, period house, 1A Leinster Road, Rathmines, Dublin 6, has a €900,000 guide price. Extending to 201.3 sq m (2,167 sq ft), its accommodation includes six bedrooms. Located next to the building formerly known as the College of Commerce, at the corner of Rathmines Road, its ground floor accommodates two reception rooms, wet room shower facilities and kitchen/dining room.

Outside, the property is approached through electric gates and is surrounded by mature trees.

In Phibsborough, a property which had been in the process of refurbishment is up for auction with a €399,950 guide price. In 2002 the three-storey, redbrick, end-of-terrace corner house at 73 Cabra Park, Dublin 7, was granted planning permission to convert the then seven-bed sitter property into three apartments. The agent Kelly Bradshaw Dalton says it has potential annual rents of €54,000.

I Am Sold's Munster auction will take place in Cork next Thursday, February 28, and it includes the Waterloo Inn, north of Blarney town in County Cork, which has a €400,000 reserve.

The premises extends to 459 sq m (4,941 sq ft) and accommodates six en suite bedrooms, a commercial kitchen, beer garden and function area at the rear. It also has a large car park.

O'Donnellan and Joyce's auction on Friday, March 1, in Galway will have 42 lots.

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Its most valuable lot will be a group of dwellings along with two development sites in Ennis, Co Clare, with a €650,000 AMV. Known as the Aisling Development, it is located off the Shanaway Road about 2km west of Ennis town and comprises four semi-detached houses, three terraced houses and four duplex apartments.

The apartments range in size from one to four bedrooms, and from 65 sq m (705 sq ft) to 121 sq m (1,302 sq ft). Three of these are tenanted, as are two of the terraced houses.

The two plots are believed to have potential for 10 houses but the auctioneer did not have the details by the time of going to press.

In the village of Ballygar, on the Galway side of the border with Co Roscommon, a mixed-use development known as Petits Court has a €400,000 AMV. It comprises four ground floor commercial units, a warehouse and 13 apartments.

Three of the commercial units in the corner building are currently rented to a beautician, a take-away and a hairdresser respectively. Overhead, two of the 13 apartments are rented and the combined annual contracted rent is around €27,000.

Closer to Galway City, Unit 24, Claregalway Corporate Park, has a €400,000 AMV. Extending to 1,815 sq m (19,536 sq ft), it comprises four ground floor units with 17 first floor office units, along with communal canteen and toilets.

Several but not all units are currently occupied and the auctioneer understands that the passing rent is €5,800 per month.

In Sligo Town centre, two ground floor units currently leased to O'Briens Sandwich Bar are for sale with a €200,000 AMV.

Located at Units 1A and 1B Wine Street, they extend to 86 sq m (926 sq ft) and have an annual contracted rent of about €18,000 on a 35-year lease since 1989. This suggests a gross yield of 9pc.

At REA Dempsey Sothern's Leinster auction on Wednesday, February 27, in Naas, the 14 lots include Suite 5 at The Hermitage Clinic, Font Hill, Lucan, Dublin 20, which has a €315,000 AMV.

Located on the lower ground floor of the circular-shaped section of the clinic, the suite comprises three consultants' rooms, an administration office, reception, waiting area, kitchen and w/c.

The property is let on varying lease terms to consultants and produces a combined annual rent of €34,500, suggesting a gross initial yield of almost 11pc.

The Hermitage Medical Clinic is a private hospital providing medical, surgical and advanced radiotherapy care.

In North County Dublin, a five-bedroom detached house together with a one-bedroom annex on 0.5 acres has a €310,000 AMV. Known as Whispering Pines, it is located south west of Naul village and comes with ample parking, large Jacuzzi bath, utility room and detached garage.

The same auction includes 12 and 12A Kindlestown Lower, Greystones, Co Wicklow which has a €255,000 AMV. Located on a 0.202 acre site, it comprises a three-bedroom, semi-detached bungalow in need of considerable modernisation.

The lot also includes an annexe with a two-bedroom, well presented, self-contained unit which is let at €1,200 per month.

At REA O'Connor Murphy's Munster and Connacht auction on Wednesday, February 27, in Limerick, the 26 lots include a mixed-use investment overlooking the harbour in Cobh, Co Cork.

Located at 8/9 Atlantic House, West Beach, Cobh, it has a €239,000 AMV.

The four-storey terraced property accommodates two ground floor retail units, one of which is occupied, a storage unit which is also let; a two-bedroom and a six-bed apartment both of which are let, and a third apartment which is vacant.

Near Cork city centre, a five-bedroom, three-storey Victorian terraced house, 6 Roseneath Villas, Military Road, extends to 157 sq m (1,690 sq ft) and has a €304,000 AMV.

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