Auctioneer aims to generate €37m from 230 lots next week

Auction: 11 Prince of Wales Terrace, Quinsborough Road has a floor area extending to 3,515 sq ft

Donal Buckley

March 11 2021 02:30 AM

Multi-unit residential investment properties in Bray and Dublin’s Liberties are among the 230 lots with combined guide prices totalling €37m being offered in BidX1’s online auction on March 19 next.

The most valuable of them is 109 Cork Street, The Liberties, Dublin 8 – a terraced property with six apartments which is guiding €1.17m. That’s a reduction from the €1.25m. quoted for it last December.

Fully occupied, its current rent reserve totals €128,940. At its guide price this would equate to an 11pc gross yield. It accommodates five two-bedroom units and one one-bedroom unit which have been refurbished.

In Bray, Co Wicklow, 11 Prince of Wales Terrace, Quinsborough Road has a floor area extending to 3,515 sq ft and an €800,000 guide price. It comprises 10 one-bedroom apartments – all of which are let – with annual rents totalling €90,036 which would equate to a gross yield of 11.25pc.

Nearby 5 Duncairn Terrace, Quinsborough Road, has a €775,000 guide price and extends to 3,920 sq ft. It also comprises 10 one-bedroom apartments of which nine are tenanted. Their rents range from €6,240 to €10,500 per annum generating combined rents totalling €78,432 which would equate to a gross yield of 10.1pc.

An entire portfolio of 10 vacant houses in Ballagh, Co. Tipperary have an €800,000 guide price. Each house extends to 947 sq ft and accommodates three bedrooms. Nine of them are completed to first-fix standard. The estate is 12km from Cashel.