Allsop have announced details of their September Online Auction which will see over 220 residential and commercial properties with a total reserve of over €33m go under the virtual hammer – Allsop’s largest Online Auction to date. The auction takes place on Tuesday 13th September and all of the properties can be viewed here.
Bidding will open at 8am on 13th September and, in order to accommodate such a large volume of properties, a lot will close every two minutes from 10am until 5.30pm. On the day, bidding is expected to get underway immediately – Allsop’s previous Online Auction in July saw bids start to come in just 16 seconds after the lots were opened.
The commercial offering features 118 properties with a total reserve of over €17m. Allsop began selling commercial assets via their Online Auction method in March 2016 and the success of the commercial offering at each auction – a 93% success rate and sales on average 40% over the reserve price – suggests an appetite among commercial investors for the ease and transparency provided by the Allsop Online Auction process.
The residential catalogue totals 110 properties with a total reserve of over €16m. There is a strong Dublin offering with over a third of the properties located in the capital. Multi-unit investment properties feature prominently, as well as a large selection of houses and apartments located nationwide.
Ellen Prenderville, Online Auctions, commented: “We are delighted to announce our largest online auction to date with over 220 properties amounting to over €33m on reserve. The range of properties included provides opportunities for owner occupiers and investors in locations throughout Ireland. 2016 has seen continuous expansion of our online auction platform and this auction sees the trend continuing.”
Headline commercial properties in this catalogue include two adjoining office investments on South Main Street in Youghal to be sold as one lot. One of the offices is let to the Courts Service – a government tenant – with an annual rent of €97,000 p.a. This property carries a reserve range of €650,000 – €700,000.
Other prime commercial properties include a mid-terrace retail building on Oliver Plunkett Street in Cork with a reserve range of €530,000 – €570,000; a prominent Georgian mixed-use investment on Eyre Square in Galway with a rent of €71,360 p.a. and a reserve range of €520,000 – €570,000; and an end of terrace ground floor take-away investment on South Richmond Street in Dublin 2 with an annual rent of €41,600 p.a. and a reserve range of €380,000 – €420,000.
Public houses also feature prominently in this catalogue and include The Four Roads, a prominent corner public house on Sundrive Road in Crumlin, Dublin 12 with a reserve range of €495,000 – €505,000 and the Killinarden House, an extensive public house in Tallaght, Dublin 24 with a reserve range of €425,000 – €450,000.
Multi-unit investment properties feature prominently in the residential catalogue. This includes a large number of Dublin based properties but also prime locations in other parts of the country. Dublin highlights include a portfolio of five fully occupied residential units in Summerhill, Dublin 1 with a reserve range of €700,000 – €750,000; a mid-terrace three storey residential building on Cork Street in Dublin 8 with a reserve range of €575,000 – €625,000; a residential development in Skerries comprising 6 apartments with a reserve range of €550,000 – €600,000; and 6 bedsits on Meath Street in Dublin 8 carrying a reserve range of €545,000 – €555,000.
Elsewhere, highlights include a portfolio of 8 x one bedroom apartments in Drogheda with a reserve range of €400,000 – €420,000; a portfolio of 6 x two bedroom apartments on Henry Street in Limerick with a reserve range of €345,000 – €355,000; and 5 x three bedroom semi-detached houses at varying levels of completion in Mallow carrying a reserve range of €345,000 – €355,000.
The residential catalogue also features a wide selection of vacant houses and apartments offering attractive buy-to-let investment opportunities. Highlights include a semi-detached four bedroom house in Celbridge with a reserve range of €285,000 – €295,000; a detached two bedroom bungalow on .42 acres in Saggart with a reserve range of €240,000 – €260,000 and an end of terrace three bedroom house on the South Circular Road in Dublin 8 carrying a reserve range of €245,000 – €255,000.
The apartments on offer include three apartments in Harold’s Cross – including a penthouse three bedroom apartment with a reserve range of €390,000 – €410,000; a fifth floor two bedroom apartment in Dundrum with a reserve range of €285,000 – €295,000; and a duplex three bedroom apartment in Citywest with a reserve range of €195,000 – €205,000.
Check out all the properties here.