Local properties up for grabs at bargain prices in September Bid X1 auction
THE virtual hammer is set to come down on a number of inviting and potentially lucrative lots from across the North Cork area at the next Bid X1 online residential property auction.
More than 220 lots, including seven properties from the locality, will be up for grabs during the auction which will take place next Wednesday, September 30.
The first lot of local interest to go up for sale on the day will be a mid-terrace, two bedroom house at 23 Pairc na Sraide in Glenville village. According to the BidX1 online catalogue, the vacant house extends to approximately 83 sq metres, has off-street parking and a rear garden. Billed as an ideal investment property, it has a guide price of €120,000.
Lots 53 and 86 are both situated at the Radharc Na Coillte development, Rathcoole near Millstreet, both of which have a guide price of €100,000. Number 43, a semi-detached four-bedroom house extending to 115 sq metres is subject to an existing tenancy at a current annual rent of €4,800, with a gross yield of 4.8%. Number 25, a spacious four-bedroom detached house extending to approximately 156 sq metres is also subject to an existing tenancy agreement with a current rent of €5,040 per annum, with a gross yield of 5%.
A detached five-bedroom dormer bungalow at Church Road, Dromina will be up for grabs with a guide price of €150,000. Extending to approximately 140sq metres and boasting a large garden area to the rear, it is subject to a tenancy agreement with and annual rent of €6,000, representing a gross yield of 4.6%.
Interestingly, the Bid X1 catalogue points out that all of the above three properties appear to be ‘under rented’ according to retail comparisons available on the market.
An end of terrace, four-bedroom holiday home situated within the Ballyhass Adventure Centre near Mallow will go under the virtual hammer with a guide price of €65,000. Subject to a rent-pooling scheme the 140 sq metre property has a total rent reserved of €3,200 per annum.
Lot number 116 on the catalogue, a semi-detached, three bedroom house at the Stonehall estate in the village of Ballynoe, near Conna will be up for grabs with a guide price of €100,000. It is subject to a tenancy agreement of €8,640 per year, realising an 8.6% yield to a potential buyer.
The final property of local interests in the auction, a derelict end of terrace, three-story house at 137 Upper Cork St, Mitchelstown comes with a guide price of €55,000. Listed as being in need of refurbishment the building, which at one stage housed a business interest on the ground floor, could be an ideal investment for a developer with cash to spare.
Bidding deposits of €4,500 will be required for each of the listed lots included in the auction, which is fully refundable to unsuccessful bidders.
To find out more about the registration and bidding process and to view all of the lots on the catalogue visit www.bidx1.com.