Final BidX1 Auctions of 2017 Net Over €36m
BidX1’s final auctions of the year have resulted in sales of over €36m with all of the results available to view here.
Richard O’Neill, Director at BidX1 and Head of Commercial Auctions, commented:
“2017 has been a landmark year for us with the re-brand of our online trading platform as BidX1 and we’re pleased to have ended on such a high note with sales of over €36m at our December auctions. A development site in Blarney topped the commercial sales, selling for €3.1m, while our headline residential property was Ellington in Dartry, Dublin 6, a beautifully finished five bedroom house which sold for €1.8m.”
The highest commercial price was achieved by a prime residential development site in Blarney. Having been granted previous planning for 156 units and extending to 14 acres, the site sold for €3.1m. A multi-unit commercial investment in Liosban Business Park, Galway, attracted very competitive bidding before finally selling for €1.17m – €220k above the guide price. Another Galway property, a warehouse investment in Ballybritt let to tenants including Bord Gais and Fleetwood Paints, was also the subject of intense bidding – 110 bids were placed, resulting in a final sale price of €857,000, €382,000 above the guide. A substantial office investment in Castlebar, generating almost €200,000 per annum, which sold for €1.16m, was another highlight.
Pubs and restaurants were some of the strongest performers. Beshoff Bros. restaurant/take-away in Howth sold for €800,000, the former Castle Inn in Rathfarnham sold for €750,000; and an Asian restaurant and karaoke bar on Capel Street, Dublin 1, sold for €700,000. The former O’Donohoe’s pub on Main Street, Blackrock, attracted 38 bids, selling for €471,000 while the former Waterford Manor Hotel in Killotteran sold for €500,000.
A five bedroom house on Temple Road in Dublin 6 with beautiful interiors and landscaped gardens was the highest value residential property to go under the hammer and it sold for €1.8m on the day. Other highlights include a three storey house requiring refurbishment on Upper Rathmines Road, Dublin 6, which sold for €670,000 - €160,000 above the reserve price; a three bedroom house in Rathgar which sold for €460,000; and two apartments in Beacon South Quarter, Sandyford which sold for €430,000 and €428,000 respectively.
Lot 170: 5.7 Hectares (14 Acres) Development Site, Gleann Fia, Bawnafinny, Blarney, Co. Cork. A Prime Development Site Was Sold For €3,100,000.