Over 260 lots to go under the hammer in Allsop’s final auction of 2015

Over 260 lots to go under the hammer in Allsop’s final auction of 2015

Allsop will hold their final auction of 2015 on Wednesday December 9th at the RDS in Dublin.

The auction features over 260 commercial and residential properties with total reserves of €45m. Five of the properties for sale are in excess of

€1 million, four of which are commercial properties.

The catalogue is an exciting one with substantial investment opportunities for both commercial and residential buyers. The offering includes many income-producing properties but also a large selection of vacant houses and apartments suitable for owner-occupiers and buy-to-let investors.

Commenting on the catalogue, Robert Hoban, Commercial Director & Auctioneer, said: “As we approach the end of another year, we can look back on an eventful, but encouraging, 12 months for the property market. The new lending rules are in place for residential owner occupiers and are now well established and understood. The commercial investment market has witnessed a continued level of healthy activity.

“The rental market continues to seek a release valve to relieve some of the upward pressure on prices. As more vacant residential properties come to the market, such as in this latest catalogue, demand should be further met by supply. Over 260 properties will feature in our December auction, many of which are suitable for immediate occupation. Additionally, the approaching year-end signals an opportunity for funds to secure investments within the 2015 financial year.”

There are 203 residential properties with reserves totalling €28m and they include multi-unit properties, apartments and houses.

Multi-units properties feature strongly in this auction headlined by a portfolio of 16 townhouses to be offered collectively as one lot in Sligo, reserve range €1.3m-€1.5m.

Other highlights include five Pre-63 houses in Dublin. These include a mid-terrace three storey over basement residential building on Upper Rathmines Road providing nine residential units, reserve range €790k-€870k; two mid-terrace period buildings providing 10 residential units in each property in Glasthule, reserve €740k per property; and two properties on Sherrard Street, one offering 12 residential units, reserve range €650k-€750k and the other with nine residential units, reserve of €575k.

At this auction there are over 120 vacant houses and apartments for sale nationally, many of which are located in urban areas. These properties offer attractive buy-to-let investment opportunities and are particularly timely given the current rental crisis and scarcity of housing in city locations.

So far in 2015, Allsop have sold over 450 vacant houses and apartments.

More than 50 houses and apartments being offered are located in Dublin in attractive locations such as Ballsbridge, South Circular Road, Glasnevin, Shankill and Rathfarnham. Highlights include a mid-terrace four bedroom house in Glasnevin, reserve range €480k-€520k; an end of terrace four bedroom house on South Circular Road, reserve €325k; 2 houses in Foxes Grove, Shankill – a detached three bedroom in Shankill, reserve €300k and a three bed semi-detached house, reserve €280k; and a two bedroom terrace in Rathfarnham, reserve €230k .

The Dublin apartment highlights include three tenanted one bedroom apartments on Northumberland Road, Ballsbridge, all reserved at €225k per apartment; a two bedroom apartment in The Cubes, Sandyford, reserve €250k; and a duplex two bedroom apartment in Castleknock, reserve €210k.

The scenic coastal town of Malahide boasts eight properties at this auction, including a four bedroom semi-detached house in Gainsborough Avenue, reserve €420k-€460k; a three bedroom house, reserve €415k; and 6 apartments including a penthouse three bedroom, reserve €320k, all in the exclusive gated development at Robswall just off the Coast Road.

Another auction highlight includes Ardnavaha House in Ballinascarthy, West Cork – a detached five bedroom period house with a block of 15 apartments and an outdoor swimming pool, reserve €500k.

The commercial catalogue totals 68 commercial assets at reserves of approximately €16m. The catalogue is headlined by the sale of a high yielding multi-unit retail investment at Meakstown Shopping Centre, Finglas, reserve €2m-€2.4m.

Leisure investments also feature prominently and include, 17 Main Street, Swords – let to the well-known Masterson’s Steakhouse, reserve range €1.2m – €1.3m. In Ballincollig, a prominent public house let to ‘Sam’s Bar’ is being offered together with a first floor restaurant and ground floor retail unit, reserve range €950k – €1.050k

In the industrial sector, a regional retail warehouse portfolio, known as “The Texas Portfolio” is being offered in individual lots, including a 1,363 sq. m supermarket situated on Austin Friar Street, Mullingar, reserve range €750k-€850k; and a 3,285 sq. m warehouse in Carlow, reserve range €385k – €465k.

An end of terrace Georgian building on Leeson Street, which was sold at the July auction, is now back on the market with a reserve range of €1.5m-€1.65m.  This property offers office accommodation and a pied-à-terre on the third floor.

For further details visit www.allsop.ie

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