€50m-€60m in sales due in 320-lot online auction

Some 20 commercial property lots and investments in Cork, worth in excess of €4.5 million combined, plus 18 residential properties, will feature in the major c 315 lot Bid X1 online auction next month, November 9 and 10, in which €50-60 million in activity is expected to be generated nationally.

There’s to be 124 commercial lots in all, plus 193 residential properties, in the online sales process over two days.

Largest commercial offer is a 10 acre Rathfarnham development site, guided at €2.75m.

In Cork city centre, a retail investment opposite Merchants Quay Shopping Centre, has a guide price of €1.65m. No 112 St Patrick Street is let to international retailer Schuh, on a 20-year lease expiring in 2026, at an annual rent of €180,000 for the ground and first floors, with upper floors vacant.

Three medical suites at Ardfallen Mall, Douglas, have a guide of €500,000, and a 12.4% return on rents of €62,000 pa.

Development land in Cobh, with a lapsed planning for over 200 homes, has a guide of €650,000 for 11.7 acres by the Inis Alainn, Willmount Park and The Spires developments in Cobh, Cork harbour, and there’s also development land on offer in Castelyons, Castletownshend, Ballinhassig, Mallow and Kilbrittain. Some guide prices start as low as €1-2,000 per acre.

Other lots include retail and multi-let properties in a range of county towns, at yields from 4%-12%.

Details: www.BidX1.com