Allsop’s online auction will offer more than 130 residential and commercial properties

Now that there’s a distinct chill in the air and the nights are drawing in, auction room action is back in full swing. So also, are Allsop’s growing collection of online auctions.

More than 130 residential and commercial properties with a total reserve of more than €20million are going under the virtual hammer on Thursday, November 3.

Bidding at onlineauction.allsopireland.ie will open at 8am with a lot closing every three minutes until 5pm.

In the residential sector, Robert Hoban of Allsop says there has been a keen appetite for multi-unit lots and this catalogue has a selection of offerings likely to attract this market.

He says they are seeing ongoing demand from investors looking for asset management and development opportunities.

The multi-unit selection is fronted by an unbroken development of 15 houses in Tullamore with an annual rent of €86,292. Consisting of two and three bedroom bungalows it carries a reserve range of €900,000 to €1m.

One of the more interesting offerings in the south is Hammond Marsh House on Henry Street in Cork.

This is a seven apartment portfolio consisting of four x 1 beds, two x 2 beds and a 3 bed unit. The current gross rent is €69,900 pa and it guides a reserve between €770,000 and €780,000.

In residential there is a 109 sq m (1,173 sq ft) semi-detached three-bedroom house in Carrigaline. It has front and rear gardens and is guiding a reserve of €185,000 to €195,000.

In coastal Waterford, there is a six-unit scheme on offer at Coxtown in Dunmore East. It is an entire development of two- and three-bedroom properties ranging in size from 85 sq m (914 sq ft) to 115 sq m (1,237 sq ft).

One of the properties is rented for a current return of €7,800 pa. This lot is guiding a reserve of €565,000 to €580,000.

The 30 commercial properties on offer are headlined by a substantial three-storey detached office block on Cork’s Model Farm Road.

Located in the Cork Business and Technology Park, QC House is currently vacant. It extends to approx. 1,647 sq m (17,728 sq ft) currently containing a reception area and offices on the ground floor with further office accommodation on the upper floors. The reserve is €950,000 to €1,050,000.

Across the water, a recent Allsop auction in London may indicate sentiment following the UK’s vote to leave the EU.

The event achieved an 87% sale success rate in its largest auction in more than a decade. The day raised £117 million at the fifth such sale of 2016.

A range of commercial and mixed use developments sold across London and the south east region offering yields of between 4.25% and 6.26%.

Allsop’s Duncan Moir, said: “The strong showing from private investors exceeded all expectations, the demand was clearly evident from the start.”

Seventy-five percent of sales went to cash purchasers, the highest ever recorded.

© Irish Examiner Ltd. All rights reserved

Email Updates

Receive our lunchtime briefing straight to your inbox

More in this Section

Watch: Large Innishannon home on 6.5 acres on market for €1.15m

Gallery: This Ballincollig home is perfect for those who hate cutting grass

Watch: Georgian jewel in Limerick is one hell of a home for €1.65 million

Watch: House of the week - Clonakilty, West Cork €425,000


Breaking Stories

Triona Priestly's mother remembers her daughter's final moments with Ed Sheeran ahead of third anniversary

SimSimi: 'My daughter's friend told her there was stuff being written about her... really nasty things'

Car linked to alleged tiger kidnapper spotted by gardaí near scene of crime, court hears

Ian Bailey's lawyers accuse judge of ruling out evidence they claim was admissible

Lifestyle

There's little help or understanding about Lyme disease in Ireland

Making Cents: Lot of work to do before you hand in your notice

Norman Reedus explains how The Walking Dead is keeping one step ahead

Meet the US firefighter running the Cork City Marathon with his severely ill daughter

More From The Irish Examiner