Allsop have announced details of their first auction of 2017, an Online Auction featuring over 190 properties to be held on 23rd February. The auction will open with a large selection of residential properties, both tenanted and vacant. This will be followed by the commercial offering, featuring over 60 assets, lotted between 130 and 193. The catalogue totals more than €27m on reserve and the full list can be viewed here.
Richard O’Neill, Director at Allsop, commented on the launch of the catalogue: “The launch of our February catalogue marks the start of what we expect to be a very busy year. The residential offering provides substantial investment opportunities but also a wide range of vacant properties across the country which will be of interest to potential owner-occupiers. On the commercial side, we have some particularly strong income streams on offer, including properties let to Paddy Power and AIB.
Commercial investors will have 64 lots to choose from, totalling more than €12m on reserve. Headline properties include Park House in Terenure, a mixed-use investment with residential conversion potential that carries a current rent roll of €84,600 p.a. and is reserved at €1,000,000 – €1,100,000; as well as a retail investment in Limerick City let to Paddy Power until 2031 for €90,000 per annum which is reserved at €830,000 – €870,000.”
Other commercial highlights include Oakleigh House in Douglas, Co. Cork, an attractive mixed-use block that is currently fully let with a rent roll of €72,200 per annum. The property is reserved at €785,000 – €805,000. There is also a bank investment in Cahir, Co. Tipperary which is let to AIB for €64,600 per annum with approximately 10 years remaining on the lease – reserved at €630,000 – €670,000; and a mixed-use investment on Dorset Street in Dublin 1 which is subject to numerous tenancies generating €88,000 per annum – reserved at €550,000 – €570,000.
A prominent public house – The Hub in Crumlin – has been reserved at €440,000 – €460,000. Comprising a vacant public house and a restaurant subject to a licence agreement, the property is currently generating €36,400 per annum.
The residential catalogue features 129 houses, apartments and multi-unit properties. Highlights include four apartments on Castle Street in Dublin 8 with a reserve range of €670,000 – €680,000; a portfolio of 5 terraced houses in Bohermore, Galway reserved at €590,000 – €610,000; and a portfolio of 6 x two bedroom houses in Enniscorthy reserved at €370,000 – €390,000. Other multi-unit properties include 7 x two bedroom houses in Brittas Bay with an annual rent of €55,920 – reserved at €345,000 – €355,000; and two designated student apartments in Gateway Student Village, Dublin 9, reserved at €230,000 – €240,000.
Those seeking a stand-alone apartment will have plenty of options nationwide – Dublin highlights include a third floor two bedroom apartment on Foley Street in Dublin 1 reserved at €245,000 – €255,000 and a first floor studio apartment in Monkstown with a reserve of €140,000 – €150,000.