BidX1 March Onwards with the Launch of Europe's Largest Online Auction To Date
BidX1 have announced details of their latest auction which will be Europe’s largest online auction to date. Over 380 properties are going under the virtual hammer across three days – 30th May, 31st May and 1st June. The full catalogue can be viewed here.
Jonathan Fenn, Director at BidX1 and Head of Residential Auctions, commented:
“We’re kicking-off our three-day auction with the residential catalogue, headlined by two Victorian properties overlooking one of South Dublin’s most coveted locations, Grosvenor Square in Dublin 6. Northside, the stunning beachfront views provided by two residential sites in Robswall, Malahide, should attract plenty of interest.”
No less than 82 apartments are on offer – more than a quarter of the catalogue – so the auction should provide an interesting addition to recent commentary on the popularity of this asset class.
As always, larger-scale investors will have a strong selection of residential and commercial investments with high income streams to consider – retail investments on Patrick Street in Cork and in Quartiere Bloom in Dublin City Centre, as well as holiday home portfolios in Bantry and Graiguenamanagh, will likely attract significant interest.”
“Of course, our catalogues are also well-known for their variety and we’re always pleased to offer unique properties through the online auction! The landmark Shanagarry Chimney in Milltown, the only remaining part of the former Dublin laundry, is one such property.”
A retail investment on Cork’s premier shopping street – 122 St. Patrick’s Street – headlines the commercial offering. The ground and first floor are let to Schuh and generating €180,000 annually, while further asset management potential is provided by the vacant second and third floor. The property is guiding €1,650,000. Back in the capital, four retail units in bustling Quartiere Bloom on Ormond Quay are being offered with a guide of €1,000,000 and, interestingly, 45% of a retail unit on North King Street let to the well-known Musgrave Group is guiding €620,000.
Two portfolios of holiday homes are on offer: 11 holiday homes in Bantry, Cork, are reserved at €1,000,000 while fifteen homes in Graiguenamanagh, Co. Kilkenny, comprising a mix of one and two bedroom apartments as well as a four bedroom house are being offered with a reserve of €750,000. Investors willing to undertake finishing works will find Lot 192 of interest – a portfolio of six detached four bedroom houses in Gorey, along with two additional residential sites – are going under the virtual hammer with a reserve of €900,000.
Numbers 13 and 64 Grosvenor Square in Dublin 6, reserved at €840,000 and €800,000 respectively, are headlining the selection of family homes. Requiring refurbishment, these attractive red-brick properties present a rare opportunity to acquire a Victorian property overlooking one of South Dublin’s most coveted squares. Further attractive opportunities include Sillan Lodge, a derelict house in Greystones on 0.192 acres.
More than a quarter of the catalogue comprises apartments, both tenanted and vacant. South Dublin and City Centre lots carry the highest reserves, leading with a one bedroom apartment at Gallery Quay in popular Grand Canal Dock. Generating €21,600 per annum in rental income, the property is reserved at €350,000. Across the river in the busy IFSC, a vacant two bedroom apartment is being offered with a reserve of €315,000. South Dublin highlights include a one bedroom apartment on Sussex Road in highly desirable Dublin 4, also reserved at €285,000.
Lot 321: 2 x sites within Folio DN152605F, Coast Road, Robswall, Malahide, Co. Dublin. Guide Price €800,000