Online property specialists BidX1 are offering 26 commercial assets for sale on their platform this week, with bidding due to open on all properties on June 18th.
Ballintaggart House, a popular wedding venue in Co Kerry with views over Dingle Bay, has been listed with a guide price of €2.1 million. The property briefly comprises a five-bedroom guesthouse, 12 holiday homes, stables and staff living quarters. Thomas O’Dowd, who is handling the sale for BidX1, says there is potential for further development as the property is situated on almost 20 acres.
Elsewhere, BidX1 are guiding €950,000 for a mixed-use investment on James Street in Dublin 8. The property comprises a ground-floor retail unit with three two-bedroom duplex apartments overhead. The retail unit is let to off-licence Next Door, part of a larger chain of 25 stores nationwide, at €45,000 per annum.
While the investment is currently generating an overall rent roll of €61,800 at a net initial yield of 5.85 per cent, two of the apartments are vacant. Gillian Earley of BidX1 estimates a potential market rent of about €95,000 per annum once the property is fully let, offering the prospective purchaser the opportunity to secure a net initial yield of 9 per cent.
An end-of-terrace period property at 31 Ranelagh Road, Dublin 6, is being offered with vacant possession. An impressive property, but requiring refurbishment, it may appeal to an investor or owner occupier. The bidding will open at €600,000.
BidX1 are guiding €450,000 for a modern office suite comprising three cellular offices in the Capel Building, Dublin 7. Currently vacant, the offices come with two parking spaces.
A vacant guesthouse and restaurant in Salthill, Galway, is listed with a guide price of €450,000. Vodafone, Meteor and Three each host a telephone mast on the roof, generating €33,900 annually. Formerly the Southern Hills B&B, the property occupies a 0.2 acre site, offering potential for a range of uses.
The online auction model has allowed BidX1 to continue trading throughout the Covid-19 lockdown, with almost €7million in sales taking place in April, while the most restrictive measures were in place. Last month's sales included four retail units at Quartiere Bloom on Lower Ormond Quay, which sold for €1,042,000 from a guide of €850,000.
