Expect deals galore as Imperial auction goes online

And they’re off... commercial property auctions go online and on parade next week, in the run up to St Patrick’s Day, amidst the four-day long Cheltenham festival.
Expect deals galore as Imperial auction goes online

And, “my punters have a better chance of making money than at Cheltenham, I definitely think the odds are more in punters favour at our auction,” quips agent Shane Finn of DNG Creedon Cork; they are to put €2m worth of lots under the auction hammer on March 16.

The DNG auction, featuring 21 lots and 25 properties from around Munster, takes place on proven ground, with good going forecast, at the Imperial Hotel Cork from 11am, and will be streamed live on DNG’s website, myhome.ie and on www.irishexaminer.com also, notes Mr Finn, who expects both a packed house, and an online audience.

It follows the DNG group’s November auction with 100% sales success in 21 lots, 20 of them sold under the hammer and one in final furlong negotiations immediately afterwards.

In Cork, at the Imperial Hotel next Wednesday, DNG are selling €2 million worth of assets, at an average of €93,000 per lot and “there’s something for everybody at this auction,” they say.

The sales include residential investments, from individual apartments in Cork, Tralee and Tipperary and at AMVs from €10,000 to single houses, and multi-let units in Cork city with a commercial income element.

Highest guide is €350,000, for a block of two houses at Rockboro Avenue, Old Blackrock Road/Boreenmanna Road with scope for €45-50k a year income from Nos 14 and the later-built 14A: “two houses for the price of one,” suggest DNG, noting their lots hold an average return of 10%.

Of particular interest will be the relative performance of unrelated lots around Cork city ‘s Watercourse Road area, where both Allsop and DNG have offers on March 16.


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