An entire street of shops, a Dublin Georgian square and a seaside pub are among the lots up for auction at today’s Allsop Space sale in the Shelbourne Hotel.
For the first time, commercial properties dominate the catalogue with over half of the offering by volume and 66% by total reserves. In fact, this will be the nation’s largest ever number of commercial properties to be auctioned in a single day.
The Clonmel commercial lot is bound to take centre stage. An entire shopping street will be auctioned as one lot at Market Place, Clonmel, Co. Tipperary. The lot features a retail portfolio of 18 units and buildings, on both sides of the street. Nine of the units are tenanted, with tenants including Specsavers, Elverys and Xtravision. Rents total €231,645, with 9 units vacant. The reserve will not to exceed €900,000 for the entire.
The highlight of the residential offering is undoubtedly Dartmouth Square, Ranelagh, Dublin 6 featuring a 2 acre Georgian garden square. The entire freehold interest will be sold to the highest bidder. It is being sold on the instructions of Tom Murray of Friel Stafford Corporate Recovery, the court appointed liquidator over Marble and Granite Tiles Ltd. Reserve for it is not to exceed €140,000.
Other highlights include 47 Leinster Road, Rathmines, Dublin 6, an investment building arranged internally to provide 8 residential units with a current rent reserved €60,600 per annum and reserve not to exceed €495,000.
According to Robert Hoban, Director of Auctions, Allsop Space: “We have been seeing strong interest from those seeking commercial investment opportunities, or those looking to set up business again. Many are returning from abroad, while others are owner occupiers looking to secure viable business opportunities at open market price. The residential demand remains strong for well located property, whether vacant or tenanted.”
MyHome.ie will be tweeting results from the auction when it gets underway at 10am on our Twitter page @myhomeproperty.