BidX1 News Centre

Nicole Pomeroy

BidX1 Residential Auction taking place on 9th November, Commercial & Land Auction on 10th November

23 October 2017 / News
Lot 10: 155A Castle Avenue, Clontarf, Dublin 3. Reserve Range €970,000 - €980,000.

The next BidX1 auctions will take place on 9th and 10th November when over 280 properties will be offered. The full catalogue can be viewed here.  

Jonathan Fenn, Director at BidX1, commented on the launch of the catalogue:

“The size and variation of our catalogues is what makes them unique in the Irish property market. Rare opportunities to acquire incredible character properties are regular features and the November catalogue is no different. A stunning Arts & Craft style house overlooking Lough Derg in Nenagh comes complete with its own quay and 10 acres of pleasure gardens and mature woodland. Family homes in Dublin’s most desirable locations – Sandymount, Clontarf, Dalkey, Ranelagh – should drum up lots of interest.”

“We expect another strong performance from apartments nationwide as investors seek to purchase assets with strong ROI. Portfolios of apartments in Doughiska in Galway and Shamrock Plaza in Carlow will interest those looking to make a sizeable investment.”

He added:

“Our commercial and land auction on 10th November will feature more than 100 properties including a development site in Rathfarnham guiding €2.75m and the former Our Lady’s Hospital site in Ennis guiding €800,000.”

Residential Highlights

Featuring over 180 properties, the residential offering totals more than €27m on reserve. Those seeking a home in Dublin’s most desirable locations will have a large selection to choose from. Highlights include a detached five bedroom house complete with solar panel heating system on Castle Avenue in Clontarf which is reserved at €970,000 - €980,000; a mid-terrace three bedroom house in Sandymount reserved at €765,000 - €775,000; and a mid-terrace three bedroom house on Rugby Road in Ranelagh which is reserved at €495,000 - €505,000. Lilliput on Sorrento Road in Dalkey, a semi-detached three bedroom house with large gardens, provides an exciting development opportunity since it comes with full planning permission to extend. Within walking distance of Dalkey Village, the property is reserved at €620,000 - €640,000.

Outside the capital, a stunning lakeside Arts & Craft style house in Nenagh is reserved at €850,000 - €900,000. Situated on more than 10 acres featuring pleasure gardens, a walled garden and mature woodland, the house benefits from magnificent views of Lough Derg. It was completely re-built in 2000/2002 and comes complete with a stone walled quay and boat slipway.

Apartments in the capital saw a 93% success rate at the BidX1 auction in September and the quality of the stock in this most recent catalogue means that trend is likely to continue. Two riverside apartments in Dublin City Centre should drum up lots of interest – a ground and first floor duplex apartment at Spencer Dock is reserved at €370,000 - €380,000 and a third floor two bedroom apartment at Longboat Quay with rental income of €14,400 per annum is reserved at €335,000 - €345,000. On the Southside, highlights includes a two bedroom apartment in Dundrum reserved at €360,000 – €370,000; a two bedroom apartment in Shankhill reserved at €310,000 - €320,000; a two bedroom apartment at Beacon South Quarter in Sandyford reserved at €285,000 - €295,000; and a ground-level one bedroom apartment on Pembroke Road in Dublin 4 reserved at €270,000 - €280,000.

Investment highlights include 20 x two bedroom apartments on Doughiska Road in Galway. Fully occupied with an annual rent of more than €170,000, a reserve of €2,000,000 - €2,250,000 has been placed on the property. A portfolio of 12 apartments at Shamrock Plaza on Dublin Road in Carlow is also going under the hammer, reserved at €1,490,000 - €1,510,000; along with five houses at St. Edmund’s Park in Lucan, reserved at €1,240,000 - €1,260,000.

Commercial Highlights

The 10th November auction will feature over 100 commercial properties, including 31 land lots. The highest value land lot going under the hammer is a development site on Whitechurch Road in Rathfarnham. Extending to approximately 10.7 acres and zoned residential, the guide price is €2,750,000. A prime town centre development site in Ennis that includes the former Our Lady’s Hospital building is guiding €800,000. The site extends to approximately 16.65 acres and carries planning permission for a Health Care Facility.

Other land highlights include 11.7 acres in Cobh with a €650,000 guide price. The site has plenty of development potential – planning permission for 212 units was previously granted. An industrial site in Naas guiding €425,000; quarry lands in Dunlavin, Wicklow guiding €400,000; and 29 acres on Greenhills Road in Wicklow guiding €390,000 are also going under the hammer on the day.

A prime retail investment on Patrick Street in Cork generating €180,000 per annum is going under the hammer with a guide of €1,650,000 while a mixed-use investment on D’Olier Street in Dublin 2 comprising retail and 2 apartments is guiding €650,000. An office investment at Eblana Villas in Dublin 2 let to Salus Financial for €50,000 per annum is guiding €725,000.

The commercial catalogue also features a large selection of warehouse investments. Highlights include a substantial warehouse facility in Kells with an €800,000 guide price and two modern warehouse investments arranged over two detached blocks in Blessington which are guiding €650,000.

Lot 23: Garryurra, Urra, Ballycommon, Nenagh, Co. Tipperary. Reserve Range €850,000 - €900,000.

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