BidX1 to Bring Over 200 Properties to Market in Final Auction of 2017
BidX1 are bringing over 200 properties to the market for their final auction of 2017 which will take place on 13th & 14th December. The catalogue totals more than €50m on reserve and all of the properties can be viewed here.
Richard O’Neill, Director at BidX1 and Head of Commercial Auctions, commented:
“We’re extremely pleased to offer buyers the opportunity to invest in such a diverse and high-value catalogue, especially considering the quick turnaround between the successful conclusion of our November Auction and the launch of our December sale. On the commercial side, we are offering a number of prime development sites in Foxrock, Blarney, and Midleton, which – given the levels of housing demand in these areas – should spark plenty of developer interest. On the residential side, the catalogue is highlighted by a five bedroom trophy home on Temple Road, Dublin 6; a rare opportunity to acquire a housing site on Torquay Road, Foxrock; and a three bedroom apartment on Dublin 4’s Ailesbury Road, all of which should generate plenty of interest.”
The last commercial catalogue of the year provides a very strong selection of opportunities for investors. Auctions in the latter half of 2017 have seen development land performing strongly and this trend is likely to continue in December with 20 sites going under the hammer. 14 acres in Blarney looks set to take the top spot. The site has significant development potential as planning was previously granted for 156 residential units and a guide of €3,095,000 has been placed on the property. A development site in Foxrock, one of Dublin’s most desirable suburbs, should also attract investor interest since it carries full planning for the construction of 20 apartments. The property is guiding €2,900,000. Further highlights include 2 acres in Shanakiel, Cork with planning for 38 residential units granted just last August, which is guiding €1,835,000; and a mixed-use investment in Midleton comprising a former mill, office and 4 houses on 8.75 acres which is guiding €1,600,000.
Leisure investments, including pubs, restaurants and hotels in popular city and suburban locations, are well-represented in the catalogue. A restaurant with offices overhead in Rathgar – currently generating €70,000 annually – is guiding €950,000 while a restaurant/takeaway trading as Beshoff Bros. on Harbour Road in Howth is guiding €825,000. Other highlights include the former Castle Inn in Rathfarnham which is guiding €750,000; a restaurant investment on Capel Street, Dublin 1, let to King 7 Bar & Restaurant for over €100,000 per annum guiding €600,000; and a former public house with an apartment overhead on Blackrock’s Main Street which is guiding €375,000.
A multi-unit investment on Bridge Street in Westport is also going under the hammer with a guide of €825,000. Comprising a public house, café and retail unit, all of which are tenanted, the property is currently generating over €50,000 per annum and provides significant reversionary potential. The former Waterford Manor Hotel in Killotteran – a 23 bedroom hotel on 16 acres – is guiding €700,000.
Commercial lots will go under the hammer on 14th December.
Ellington, a stunning five bedroom house on Temple Road in Dublin 6, headlines the residential catalogue. Situated in a private gated development, the property boasts landscaped gardens and a beautifully finished interior. A reserve of €1,800,000 has been placed on the property.
Those seeking a building project in a prime residential location will be attracted by 0.3 acres on Torquay Road in Foxrock. While there is a derelict house currently on the site, the property has full planning permission for the construction of a new two-storey dwelling. The site carries a reserve of €950,000. Further opportunities to buy in prime South Dublin locations are provided by a three storey six bedroom house requiring refurbishment on Upper Rathmines Road, Dublin 6, reserved at €510,000 and a pleasant three bedroom house in Rathgar reserved at €460,000.
Apartments - whether from an investment or owner-occupier point of view - are well represented in the catalogue and include opportunities in Dublin’s most sought-after locations. A three bedroom penthouse apartment on Ailesbury Road is the highest value apartment to go under the hammer, reserved at €925,000. A three bedroom duplex apartment on Merrion Road is also being offered. Stylish and light-filled, with expansive views over Elm Park Golf Club from one of two balconies, the apartment provides ample space, extending to almost 200 sq. m. Two penthouse apartments in Sandyford’s Beacon South Quarter, both reserved at €360,000, are also among the highlights.
Lot 170: 5.7 Hectares (14 Acres) Development Site, Gleann Fia, Bawnfinny, Blarney, Co. Cork. Guide Price €3,095,000