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Southeast properties from €175k to €920k

INSOLVENCY practitioners are selling three commercial properties in Waterford and Clonmel with prices ranging from €175,000 to €920,000.

In Waterford a mixed use investment property with a gross potential yield of around 15.5pc is being offered for sale in Ferrybank, Waterford.

Located at Fountain St, the 977sqm block includes three ground floor retail units and 11 overhead apartments which when fully let five months ago were generating combined rental income of €142,560 a year. One of the flats is currently vacant.

Joint agents Sherry FitzGerald John Rohan and Ennis Gough Property, are quoting €920,000 for the sale on behalf of David Walsh of O'Neill Foley who is receiver to these assets which are owned by David and Lorraine Dodd.

The retail units are about 95sqm each and residential units comprise of nine two-bedroom flats and two three-bedroom duplexes.

Sitting tenants in this investment block include The Keogh Centre Medical Practice, Ladbrokes and Carryout Off Licence.

Adjoining occupiers on this strip include AIB, Spar, Mulligans Chemist and St Dominics Credit Union. Street parking is readily available.

Meanwhile in Clonmel town two premises are being offered for sale by liquidator Richard Maguire of O'Donovan Caulfield Lavin.

He is asking €500,000 for 13/14 Irishtown, an extensive town centre former furniture shop, trading as Fitzgerald & Nash Interiors. This four-storey premises extends to 1,858sqm on a 0.31 acre site, which offers town centre development potential.

Agents Moynihan Curran say it would be suitable for a large retail use or possible sub division.

The second property, Unit 5B Gurtnafleur Business Park, Clonmel, is a 465sqm compact modern two-storey warehouse. Kieran Moynihan says its €175,000 asking price is much less than its present construction and site cost.

He adds that Clonmel is bucking the commercial property trend, with occupiers such as River Island, Holland & Barrett, Marks & Spencer, Argos and others opening retail outlets in the town since the market downturn.

Indo Property