05/08/2021

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Bidder snaps up Kildare building with bookies, Chinese restaurant and €14k a year telecoms mast

Bidder snaps up Celbridge building with  property with bookies, Chinese restaurant and telecoms mast

The highest price at BidX1's recent Irish online auction was for a commercial investment property on Main Street, Celbridge which sold for €850,000 - €100,000 over its €750,000 guide price.

The terraced property on English Row generates €89,000 in combined rents, which equates to a gross yield of 10.47 per cent. 

The major portion of its rental income, €47,500, comes from a Paddy Power bookmaker shop on the ground floor.

A further €27,000 comes from River King Chinese restaurant on the first floor.

Both leases run until May 2023 and will not be affected by the sale.

A telecoms mast erected at the property generates a further €14,500 from Meteor.

The total floor area of the building extends to 5,177 sq ft.

Bidders paid more than €21.4m for 133 lots at BidX1 - more than two-thirds of the 198 lots offered.

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