BidX1 News Centre

Nicole Pomeroy

Over 4,000 Bids Placed at BidX1 September Auctions

05 October 2017 / News
Lot 35: 10 Edward Square, Bloomfield Avenue, Donnybrook, Dublin 4. Sold For €2,200,000

4,150 bids were placed at this week’s BidX1 auctions, resulting in sales of €45m. All of the results can be viewed here.

Commenting on the auction, Jonathan Fenn, Director at BidX1, said:

“This week saw our first auctions under the new BidX1 brand so we were very pleased to kick-off with such strong results. The highlight of the auction was the sale of a luxury five bedroom home at 10 Edward Square in Donnybrook for €2.2m. Income generating investment properties also attracted competitive bidding or were snapped up prior to auction – 15 apartments on Gardiner Street sold for over €2.3m after more than 100 bids were placed while a ground floor restaurant and offices at The Green in Malahide with a €3.4m guide price was sold prior to auction.”

“There was a strong vote of confidence in Co. Kerry – Tralee Food Court was sold for €1.685m while the virtual hammer came down on multi-unit residential properties at The Kerries in Tralee and Ballyferriter for €1,100,000 and €721,000 respectively.

He added:

“No auction day is complete without some surprises and we were pleased to see a detached four bedroom house on 15 acres in Blackpool, Cork, sell for €1.1m – €760,000 above the reserve price.”

Residential Highlights

The residential catalogue was headlined by a stunning five bedroom home on Bloomfield Avenue in Donnybrook which sold for €2.2m. Overlooking private landscaped gardens and complete with internal private elevator, the property is situated in one of Dublin’s premier developments.

Other highlights include a four bedroom red-brick Victorian house on Palmerston Road in Rathmines which sold for €1,326,000 and Dun Luce House and Lands in Blackpool, Cork – this four bedroom detached house on approximately 15 acres was the subject of intense bidding which led to a closing price of €1.1m, far in excess of the €360,000 reserve price.

Single apartments proved popular on the day, with a 93% success rate. Dublin apartments, both in the City Centre and sought-after suburban locations, performed particularly well. Suburban highlights include a ground floor two bedroom apartment in Donnybrook which sold for €420,000; a first floor two bedroom apartment in Booterstown which sold for €380,000; and a third floor three bedroom penthouse apartment in Rathcoole which sold for €302,000. In the City Centre, a third floor two bedroom apartment on Foley Street, Dublin 1 was sold for €289,000 and a ground floor two bedroom apartment in Christchurch, Dublin 8 was sold for €231,000.

15 multi-family residential lots also went under the hammer. The highest value was achieved by a portfolio of 15 apartments on Gardiner Street in Dublin 1. Generating over €140,000 from the 13 tenanted units, the property saw two bidders battle it out for more than 100 bids before finally selling for €2,331,000. A smaller portfolio comprising 5 x two bedroom apartments in Knocklyon was also the subject of competitive bidding and sold for €1,281,000. A semi-detached red-brick house in Rathmines arranged to provide 9 bedrooms and generating €59,400 per annum was sold for €700,000.

Co. Kerry also proved popular for investors with 20 residential units at The Kerries, Tralee, selling for €1,100,000 while 6 houses in Ballyferriter attracted 63 bids and sold for €721,000.

Commercial Highlights

Commercial properties went under the hammer today and restaurant/take-away investments took centre stage. A ground floor restaurant and offices at The Green in Malahide with a €3.4m guide price was sold prior to auction and other highlights include Tralee Food Court, which was sold for €1,685,000, and a restaurant investment in Monkstown which sold for €600,000.

Two storeys of offices with warehousing to the rear in Blanchardstown Corporate Park was another highlight, selling for €1,580,000 - €330,000 above the reserve.

Lot 20: Apartments 1-15, 31-35 Middle Gardiner Street, Dublin 1. Sold For €2,331,000

 

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