Residential investment properties score well in Allsop’s first auction of 2016
The first Allsop auction of 2016 took place at a busy RDS on Thursday 25th February with 174 properties sold and total sales of over €22m.
The auction was headlined by the sale of a portfolio of 24 apartments and duplex apartments in Athlone which sold for €1,350,000. Other residential investments performed well and include two Pre-63 properties in Dublin – 8 residential units on North Great George’s Street which sold for €750,000; an end of terrace building offering 5 residential units on North Circular Road which sold after the auction; and 6 x two bedroom apartments near DCU and Dublin Airport which sold for €595,000.
Dublin property highlights include two Docklands apartments – a fifth floor two bedroom apartment in Spencer Dock sold for €325,000 and a third floor one bedroom apartment in Grand Canal Dock sold for €265,000; and suburban houses – a detached four bedroom house in Artane which sold for €370,000; and a three bedroom house with a roof garden in Blackrock which sold post auction.
Properties located in urban locations, particularly in Dublin’s commuter belt, proved very popular. Highlights include a detached five bedroom bungalow with a site of .31 hectares in Brannockstown, Co Kildare sold for €432,500; a semi-detached three bedroom house in Newbridge sold for €185,000; and a detached house in Stamullen, Co. Meath sold for €195,000
Jonathan Fenn, Divisional Director, Allsop Residential comments:
“We are delighted that the demand for multi-lot investment properties has continued into 2016 and has spread throughout the country. It was very encouraging to see the high attendance at the February 2016 auction, above our average attendance for 2015, and this shows the strong demand in the market.
“We were also encouraged with the results achieved in the commuter areas and the one-off apartments in traditional investment areas.”
Lot 61: 24 Apartments, Shannon Weir, Deerpark Road, Athlone, Co. Westmeath
A portfolio of 24 apartments in a prime town centre location overlooking the River Shannon. The property comprises a selection of one, two & three bedroom apartments and duplex apartments. The property benefits from communal parking. Total Current Gross Rent Reserved €152,340 per annum (with vacant possession of one unit).
Lot 22: 6 North Great George’s Street, Dublin 1
A mid-terrace Georgian building arranged to provide eight residential units (5 x two bedroom apartments and 3 x one bedroom apartments). The property is fully occupied. Total Current Rent Reserved €87,750 p.a.
Lot 25: 187 North Circular Road, Dublin 7, D07 Y9K5
An end of terrace residential building extending to approximately 125 Sq. m (1,345 Sq. ft). The property is arranged to provide 5 units (1 x two bedroom unit, 3 x one bedroom units and 1 x studio) with outbuildings to the rear in storage use. The property has been recently refurbished and is fully occupied. Total Current Rent Reserved €66,600 p.a.
SOLD AFTER AUCTION FOR AN UNDISCLOSED AMOUNT.
Lot 62: Units (23, 24, 59, 86, 92 & 94) at College View, Ballymun, Dublin 11, D11 E659
6 x two bedroom apartments extending to approximately 66 Sq. m (710 Sq. ft) each. The property is in close proximity to Dublin City University, Dublin Airport and the M50. The property is fully occupied.
Total Current Gross Rent Reserved €58,800 p.a.
Lot 55: 80A Gracefield Road, Artane, Dublin 5, D05 KP52
A detached four bedroom house extending to approximately 179 Sq. m (1,926 Sq. ft). The property benefits from a garden to the rear with decking and a shed. There is also off street parking for multiple cars to the front of the property. Vacant Possession.
Lot 51: 24 Riverstown, Spencer Dock, Dublin 1, D01 H684
A fifth floor two bedroom apartment extending to approximately 57 Sq. m (613 Sq. ft) in a building arranged over basement car park, ground and eight upper floors. Local amenities include the Irish Financial Services Centre, The Convention Centre, The 3 Arena and the corporate headquarters of Google & Facebook.
Lot 7: Apartment 5, Block 7, Gallery Quay, Grand Canal Dock, Dublin 2, D02 N924
A third floor one bedroom apartment extending to approximately 49 Sq. m (527 Sq. ft) in a building arranged over ground and six upper floors. Amenities include Donnybrook Fair, The Marker Hotel and The Bord Gais Energy Theatre. Vacant Possession
Lot 52: 16 Orchard Lane, Blackrock, Co. Dublin, A94 Y3C7
A mid-terrace three bedroom house extending to approximately 71 Sq. m (764 Sq. ft). The property includes roof gardens at first floor and roof level along with a ground floor garage. Vacant Possession.
SOLD AFTER AUCTION FOR AN UNDISCLOSED AMOUNT.
Lot 58: Woodside House, Brannockstown, Co. Kildare, W91 RFW0
A detached five bedroom bungalow extending to approximately 120 Sq. m (1,291 Sq. ft). It includes a site area extending to approximately 0.31 hectares (0.766 acres) and is located within close proximity to Naas and Kilcullen. The property benefits from gardens to the front and rear as well as off street parking. Vacant Possession.
Lot 32: 81 The Meadows, Cornelscourt, Newbridge, Co. Kildare, W12 KX40
A semi-detached three bedroom house extending to approximately 100 sq. m (1,082 sq. ft) with off street car parking. Vacant Possession.
Lot 63: Rivendell House, Stamullen, Co. Meath, K32 C625
A detached house formally in use as offices/consulting rooms. It requires renovation works to convert back into a residence. The property extends to approximately 137 Sq. m (1,475 Sq. ft).