08 Aug 2022

Property Watch: High demand for auction properties across Leinster

Online auctions: Interesting range of commercial and residential properties to go under hammer

Property Watch: High demand for auction properties across Leinster

1A Fitzwilliam Road, Wicklow town

IAM Sold Property Auctions, who run The Leinster, Connacht, Munster and Northern Ireland Property Auction, have reported continued demand for properties across all regions.

The IAM Sold Auction Group work in partnership with over 300 auctioneers to offer a binding bids platform to auctioneers all over Ireland & Northern Ireland.

Company director Patrick Folan commented “we are currently experiencing a high volume of enquiry and transaction levels remain strong coming into the final weeks of the year. The months of November and December are likely to be extremely busy and we are now inviting entries for our final online auction date which will be held on December 16.

“We also have 11 online auction dates set for 2022 and will hold our first auction of the new year on February 3. We are continuing to see strong sales prices for our clients with a lack of supply in the market.

“With competitive bidding on the majority of the properties offered, we have seen a huge jump in demand for our online bidding platform from both buyers and sellers seeking a secure sales process. With a 90% success rate, no upfront costs and a pre agreed minimum reserve agreed with sellers, this gives our clients peace of mind in using our service.”

Some properties of note are:

Unit 267 The Square Shopping Centre, Tallaght, Dublin 24 — Offered at bids over €340,000.

This investment opportunity, which has been tenanted on a 10 year lease from October 1, 2016, offers an annual rent of €35,000 pa. The reserve of €340,000 offered a gross yield of 10.29 % which reflect an excellent return on investment.

Located in a high-profile location with excellent frontage in the main atrium on Level 2 of The Square Town Centre, Tallaght, the unit itself is fitted out to a high standard.

The lease incorporates an open market rent review with the first review due on October 1, 2022 and includes a tenant break option. The tenant is a fashion retailer which has four fashion outlets in Dublin. Tenant not affected.

1A Fitzwilliam Road, Wicklow Town — Offered at bids over €135,000 in partnership with Lambert McCormack Property, Gorey.

A visual beacon at the gateway to Wicklow town centre, this high-profile premises presents a rare opportunity to acquire a retail unit in an unparalleled location.

This is an excellent opportunity for any retailer looking to take advantage of this outstanding setting. The distinguished elevated position provides optimum advertising onto one of the town's busiest thoroughfares and an immense advantage of being conveniently located adjacent to a public carpark.

The Vital Health Cafe presents the perfect setting for an ambitious retailer or budding entrepreneur.

18 St Alphonsus Road, Drumcondra, Dublin 9 — Offered at bids over €135,000 in partnership with Kelly Bradshaw Dalton, Drumcondra.

No. 18 is a Pre '63 investment property currently divided into six units. This is a superb opportunity to purchase an attractive property in a most convenient location and boasting full planning permission for a three-bedroom house to the rear.

This is a mid-terrace, bay windowed, property is situated in a much sought after residential street in the heart of Drumcondra.

Laid out over three floors the property consists of three studio/bedsits and three one bedroomed apartments. This property is in need of complete refurbishment before open market value rent will be achievable.

Contact IAM Sold Property Auctions on 01 687 5040 to arrange for a free property valuation or for more information visit Next Auction Dates: December 2 and December 16.

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