There’s to be 70 commercial lot offers in the first of three Q2 2016 Allsop property auctions: they include seven off-licences in Cork, with a combined reserve of over €900,000, as well as a museum building in Limerick city, along with a number of multi-let residential investments in Munster, and nationwide.
In all, over €24m is expected to be spent under the hammer at the April 28 Allsop auction of over 210 lots, with a predominantly residential flavour, plus some pre-1965 properties in south Dublin and holiday homes.
The sale of multi-family lots “will undoubtedly draw interest from investors, given the asset management and development opportunities, which will bring much needed accommodation to families under pressure,” says Jonathan Fenn of Allsop.
Grouped together, but with separate lots and values is the selection of seven O’Donovans off-licences in Cork, and located in the city centre, at Summerhill North and Shandon Street, in Blackpool, Douglas, Mallow, Cobh and Passage West. Individual reserves range from €110,000 up to €180,000 for the unit in Douglas village next to a Centra.
Other highlights include two Dublin, Glasthule, multi-unit period houses, each with 10 residential unit with a reserve range of €500,000-€550,000.
There is a mid-terraced residential investment at 7 Adelaide Place, St. Lukes Cross, Cork, with two two-bed and three one-bed units, at a guide of €220,000 to €240,000 and needing refurbishment.
In Limerick, the historic Leamy House has a museum associated with Frank McCourt plus offices and retail, over 15,726 sq. ft, and has a reserve of €140,000- €180,000.
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