Allsop Space unveil catalogue for May 15th auction

Allsop Space unveil catalogue for May 15th auction

Allsop Space have unveiled their catalogue for their next auction in the Shelbourne Hotel on Wednesday May 15th.

The auction giant’s second sale of the year will feature 124 lots, including 86 residential properties and 38 commercial properties.

Included in the residential lots are 55 houses – 10 of which are in Dublin. This is the largest amount of houses that Allsop Space have had to auction since they entered the Irish market just over two years ago.

Among the lots is a period manor, Ashroe House in Murroe, Co Limerick, which has a guide price between €425,000 and €450,000. Set on 55 acres of parkland, it comes complete with a gate lodge and stable yard.

The manor is currently arranged into office space, and is being sold on behalf of a private owner.

Among the Dublin houses are an attractive period gate lodge on the coast road, 84 Clontarf Road, Dublin 3, which has an €85,000 guide price. The detached property has one bedroom, and is let at a rent of €10,500 a year.

The auctioneers are endeavouring to take advantage of the strong demand for family houses in Dublin, where there is a lack of stock. A number of the houses are in Dublin 15, where a three-bedroom semi-detached dormer bungalow at 2 Blakes Court, Blakestown Road, Clonsilla, has a €65,000 guide price.

In the sought after Dublin 4 area of Sandymount, a one bedroom apartment, 7 Claremount Court, has a €100,000 guide price.

In Waterford, a three-bedroom mid-terrace house, 21 Bolton Mews, Faithlegg Golf Course, has a €95,000 guide price.

In Wicklow, a popular summer week-end haunt, McDaniels Pub at Brittas Bay, is being sold with its 10 bedrooms, 16 chalets, and 18.75 acres with views over the Irish Sea, and the guide price is €625,000 to €675,000.

The agents have introduced a reserve price range for some of the higher priced properties, and this will indicate that the reserve is guaranteed to be set within the two figures, giving the buyer a better indication of where the seller’s bottom line will be.

For example, the Farnham Court development in Cavan town will have an auction reserve set between €1.5m-€1.7 m.

This Cavan property consists of 60 apartments located opposite Cavan General Hospital and currently 25 of them are let producing €127,000 a year.

There is also expected to be keen interest in the commercial lots.

Allsop Space has indicated that there will be a reserve of €1.2m to €1.3 million when it auctions 10 retail units alongside Dunnes Stores in a shopping centre at Cardiff Bridge Road in Finglas, Dublin 11.

All 10 individual shops are let at a combined rent of €251,993. Five of the tenants have been in situ since the 1990s, once since the 1980s and another since the 1970s.

Also in north Dublin, four commercial properties are to go under the hammer on the large Ongar housing estate.

A reserve price of not more than €250,000 has been set for the auction of Kelly’s Lounge bar which extends to 596sq m (6,416sq ft). A rent of €65,000 has been fixed for the premises.

Close by a 87sq m (947sq ft) Polish supermarket, ERA Foodstore, currently rented at €19,000 per annum, has a reserve of not more than €130,000.

Also in Ongar, a laundrette extending to 128sq m (1,383sq ft) and occupied under a lease running until 2030 at an abated rent of €17,000, will have a reserve of not more than €130,000.

The fourth Ongar property, a 139sq m (1,500sq ft) office building in shell and core condition will have a modest reserve of only €35,000.

At Clonskeagh in Dublin 14 the reserve will not exceed €240,000 when Allsop Space auction a former Spar supermarket (177sq m/1,995sq ft) which is currently vacant at The Concourse at Roebuck Road and Fosters Avenue.

Investors looking for value are also likely to consider a serviced hotel/apartment complex with 30 two-bedroom units known as Riverside Suites Hotel in Sligo town. The complex, including a bar, reception room and gym, will have a reserve of not more than €145,000 and will be sold with vacant possession.

Also for sale is a two-storey retail premises in Dungarvan, Co Wexford, occupied by a Specsavers franchisee at an abated rent of €22,200. The lease runs until 2021 and the reserve will not exceed €160,000.

Another building with a Specsavers franchisee comes on the market at West End, Mallow, Co Cork, where the reserve will range between €225,000 and €250,000.

The tenant pays an abated rent of €37,000 on the shop while two overhead floors of offices are vacant.

In Kilkenny, a reserve of €575,000 to €625,000 has been set for the auction of the Shoe Zone shop in the Market Cross shopping centre. The premises are held on a 10-year lease from 2010 at a current rent of €90,000 per annum.

You can view the residential lots here and the commercial lots here.

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