Over €5 million could be netted from the sale by auction next month of more than 25 mixed lots in a DTZ/Sherry FitzGerald auction that includes a former city pub, a former suburban Douglas shop, and bundles of apartments, aimed primarily at investors.
The assertive move by Sherry FitzGerald/DTZ into the competitive auction market in Cork is due July 6 (the company has already held several group auctions in Dublin) and includes lots in Cork, Dublin, Tipperary, Waterford, Kildare, Kerry and Kilkenny.
In Cork, the commercial offers include a bar at 18/19 Pine Street, near Bridge Street, with a €200,000 guide, and nearby is a ground floor retail unit and overhead accommodation at 37 Leitrim Street, guided by DTZ’s Seamus Costello at €150,000.
His DTZ colleague Philip Horgan is handing pre-auction inquires on the former Spar/McCarthy’s shop on the South Douglas Road by the Dosco estate.
Mr Horgan guides at €150,000, and says plans have been drawn up to return the end terrace retail unit to its original state of two dwellings, each with two bedrooms.
He says “it has commercial planning, but our client has had positive discussions with planners in terms of developing the space back to residential use.”
The July 6 event in the Clarion Hotel includes a shop and filling station in New Ross, Wexford, guided at €250,000; 80 acres near Thurles, Co Tipperary, guided at €750,000; 76 acres at Boher, Limerick, with a €350,000 guide; 20 acres in Waterford’s Ferrybank, guided at €280,000.
Also included are shops located in Tipperary Town for €90,00, and in Clonmel for €80,000.
Residential lots aimed at investors, meanwhile, see seven apartments in three lots in the modern Camden Wharf apartment building across the River Lee from the Opera House, where a fire in a ground floor restaurant occured last week, without damage to overhead units.
Sherry FitzGerald agent Gillian McDonnell has nos 5, 7 & 9 Camden Wharf, three tenanted 700 sq ft two-beds with a reserve of €420,000, as well as nos 12 & 29, with a reserve of €280,000, and similar are nos 53 & 57, again c 700 sq ft and tenanted, guided at €280,000.
Also with rental income is 9 Adelaide Street, Cork city centre by the Mercy Hospital, a four-bed 1,300 sq ft terraced building with a €160,000 reserve.
Similarly priced is a two-bed apartment 23 The Avenue, Garrane Darra, Wilton, with a reserve of €165,000 quoted by Johnny O’Flynn,who also has a 600 sq ft do-er upper at 25 Quaker Road, with a reserve of €90,000.
Other lots include land/sites at Abbeyfeale, Listowel, Kanturk and Glanworth.
DETAILS: Sherry FitzGerald/DTZ 021-4273041/4275454.
© Irish Examiner Ltd. All rights reserved