Allsop secures over €26m in sales in latest online auction
MORE than €26m in sales were transacted in Allsop’s latest online auction of residential and commercial properties, which took place last Wednesday and Thursday.
In terms of the auction’s residential offering, multi-unit residential investments proved to be especially strong performers with 38 apartments in Portarlington, Co Laois, — all with vacant possession — being sold for €1.505m.
A portfolio of 10 fully-occupied apartments at Kelly’s Row in Dublin 1, with an annual rent roll of €136,200, was sold for €1.35m.
Highlights from the houses on offer were a four-bedroom one in Dublin’s Goatstown with 0.25 acres of garden. It sold for €750,000. A three-bedroom, semi-detached townhouse on Mount Street in Dublin City Centre was sold prior to auction.
An attractive red-brick, three-bedroom house in Phibsboro, Dublin 7, received 59 bids before finally selling for €440,000; a mid-terrace four bedroom house in Ranelagh, Dublin 6 sold for €386,000; and a two-bedroom gate lodge in Ashtown, Dublin 15, sold for €288,000.
High-value commercial lots generated significant pre-auction interest and competitive bidding once the sale got under way. The Athlumney Centre in Navan, Co Meath — comprising three tenanted and six vacant units generating €70,000 per annum — attracted more than 30 bids before finally selling for €1.3m. A mixed-use investment in Bishopstown, Co Cork, comprising a groundfloor bookmaker’s with two apartments overhead, also broke the €1m mark. The bookmakers is let to Boylesports and both apartments are also tenanted, bringing the total annual rent roll to €88,300. The property sold for €1.1m.
A retail and office investment on Talbot Street, Dublin 1, generating €81,000 per annum in rental income, was sold for €1.01m. Other notable results included the sale of a detached warehouse and office investment in Dunshaughlin, Co Meath, which was originally bought for €450,000 at an Allsop auction in 2014. With a total annual rent of €57,183 and the potential to add value provided by vacant possession of 16 office units, the property attracted 130 bids and sold for €691,000.
Over 1,000 acres of forestry land in Bangor Erris, Co Mayo, also went under the hammer and was the subject of intense bidding, selling for €692,000 after 80 bids.
Over 1,000 acres of forestry land in Co Mayo attracted 80 bids. Left, Athlumney Centre in Navan was sold for €1.3m