BidX1 has published the catalogue for its second Irish auction of the year, which features over 250 properties and will be run across two days in April.
Jonathan Fenn, Director at BidX1, commented: “We’re very pleased to bring such a strong catalogue to the market. Housing remains in short supply so we expect this offering, which features no less than 22 multi-unit residential investments, to draw significant interest. Considering that 19 of these lots provide over 160 properties, the majority of which are currently vacant, it’s a significant injection of stock for the pinched residential market.
“Development and investment opportunities are key features of the April catalogue, providing attractive yields and asset management opportunities in locations nationwide. A full apartment block in Inchicore, a development of 4 premium houses in Clontarf, and 1.48 acres in Walkinstown with planning for 11 houses, are among the highlights."
Commercial Highlights
The headline property going under the hammer on 18th April is Emmet Lodge in Inchicore, a full apartment block comprising 24 x two bedroom apartments and 8 x three bedroom apartments. All but one of the apartments are tenanted, generating €430,080 per annum. The property is guiding €3,500,000.
An unbroken development of 4 premium houses on the Howth Road in sought-after Clontarf is also going under the virtual hammer. Guiding €3,000,000 - €3,350,000, the properties require some renovation works. Another highlight is a development site in Walkinstown, Dublin 12. Extending to almost 1.5 acres, the property comes with full planning permission for the construction of 11 four bedroom houses, and is guiding €1,250,000.
A development opportunity is also provided by a 0.55 acre site at a prominent location in the centre of Cabinteely Village which currently features a mix of commercial and residential buildings. The property has lapsed planning permission for a 49-bedroom nursing home and 2 retail units and is guiding €900,000.
Residential Highlights
The multi-unit selection is fronted by Lot 60, a portfolio of 9 apartments at Santry Cross, Dublin 9, going under the hammer with a reserve of €1,150,000. All of the apartments are occupied, generating €111,900 annually. Other highlights include a portfolio of 10 houses – three of which require completion – in Mallow which is reserved at €1,000,000. Three partially complete houses in Bray with a reserve of €500,000 will also be of interest to investors.
Attractive family homes in desirable locations are also being offered. Highlights include a semi-detached six bedroom house in Dundrum reserved at €550,000; a three bedroom house in Milltown, Dublin 6, also reserved at €550,000; and a detached three bedroom house in Ballinteer reserved at €495,000.
The high number of stand-alone apartments in prime Dublin locations should prove attractive to owner-occupiers or those seeking a smaller scale buy-to-let investment. Highlights include a two bedroom apartment in Spencer Dock reserved at €350,000; a two bedroom apartment in Temple Bar reserved at €300,000; and a ground floor two bedroom apartment in Drumcondra reserved at €235,000.
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