Allsop News Centre

Nicole Pomeroy

Allsop’s Final Auction of 2016 Features Over 240 Properties

02 December 2016 / News
Lot 143: Mount Alto, Glasson's Avenue, Cobh, Co. Cork. RESERVE RANGE €375,000 - €385,000.

Allsop are bringing over 240 properties to the market for their final auction of 2016, an Online Auction to be held on Tuesday 13th December. The catalogue totals more than €37m on reserve and all of the properties can be viewed here.

Jonathan Fenn, Allsop’s Divisional Director, commented on the launch of the December auction:

“Despite the potential for market uncertainty in a year that has witnessed both a General Election and Brexit, our results to date suggest a healthy investment market. Housing remains in short supply so we expect our December catalogue, which features 182 residential and 60 commercial properties, to draw significant interest. Apartments in prime Dublin locations, and multi-unit lots offering asset management and development potential, are key features of our latest offering.”

“Those looking for a house with character will have an interesting selection to consider – from the panoramic views of Cork Harbour offered by Mount Alto in Cobh to the twelve bedroom Old Rectory in Killeshandra, we’re very pleased to bring such an exciting variety of properties to the market as the year draws to a close.”

He added:

“Our Online Auction technology, first introduced to the market in 2015, has proved very popular with a wide range of buyers. 2016 to date has seen over 2,500 bidders place more than 10,000 bids resulting in the sale of 430 properties. More than €70m has been spent with 70% of buyers local to the property that was purchased. The range of properties that has been sold using the online platform – from income-producing commercial assets to three bedroom family homes – is proof that moving the property transaction process online is a welcome innovation.”

Residential

The residential catalogue features more than 180 properties totalling more than €25m on reserve. The catalogue’s highest value properties are multi-unit lots providing asset management & development opportunities. Highlights include an unbroken development of 15 townhouses in Tullamore with a total annual rent of €79,900 and a reserve range of €970,000 - €980,000; a portfolio of 9 x two bedroom houses in Stoneybatter, Dublin 7 reserved at €850,000 - €950,000; a portfolio of eight vacant houses along with development land in Garristown, Co. Dublin reserved at €845,000 - €855,000; and an end of terrace Pre-63 house on the North Circular Road in Dublin 7 arranged in 9 residential units which are producing €79,000 per annum, reserved at €440,000 - €460,000.

Other residential highlights include Mount Alto in Cobh, a beautiful six bedroom house extending to approximately 501 Sq. m and boasting panoramic views over Cork Harbour. The property is reserved at €375,000 - €385,000. Other highlights include Old Town Hill in Tullaroon, Kilkenny, a detached five bedroom house on 22.7 acres reserved at €300,000 - €350,000; The Old Rectory in Killeshandra, Cavan, a twelve bedroom house on 1.7 acres reserved at €145,000 - €155,000; an attractive detached four bedroom house with an adjoining three bedroom annex on Broguemakers Hill in Kilkenny reserved at €300,000 - €325,000; and a detached five bedroom house on 13 acres in Bruree, Limerick with a two bedroom annex and stable block which is reserved at €230,000 - €240,000.

There is also a broad selection of apartments in attractive Dublin locations including 2 x two bedroom apartments on Benson Street in Grand Canal Dock, each reserved at €360,000 - €370,000; a fourth floor two bedroom apartment on the Stillorgan Road in Blackrock reserved at €320,000 - €330,000; and a second floor two bedroom apartment in Windy Arbour, Dublin 14 with a reserve range of €235,000 - €245,000.

Commercial

The commercial offering features 60 properties with a total reserve of over €11m. The catalogue is headlined by a mixed-use investment in Tuam comprising 13 ground floor retail units, first floor commercial accommodation, 14 duplex apartments and 6 single storey apartments over second and third floors. The property is subject to multiple tenancies with a total annual rent of €159,500 but also offers potential to enhance return as there is vacant possession of 11 x ground floor retail units, the first floor commercial accommodation and 1 x apartment. The property is reserved at €1,200,000 - €1,300,000.

Other highlights include a crèche investment on the grounds of Loreto Abbey in Dublin 14 which is let to Giraffe Childcare for €70,000 per annum and carries a reserve range of €670,000 - €700,000; a mixed-use building on Arran Quay in Dublin 7 comprising offices and 3 x two bedroom apartments reserved at €580,000 - €620,000; and a substantial town centre retail investment in Castleisland, Kerry which is reserved at €550,000 - €600,000.

A former hotel in Gweedore which is situated on 76 acres overlooking the North Atlantic Ocean has been reserved at €590,000 - €610,000. Comprising a 32 bedroom hotel, a leisure centre and 6 x holiday apartments, the property is being offered with vacant possession.

Lot 19: Portfolio of 9 x two bedroom houses, Stoneybatter, Dublin 7. Reserve Range €850,000 - €950,000.

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