Two commercial properties in West Dublin were among the lots recently sold by BidX1 for around the million-euro price range.
The most valuable of them was an office – Block 3, Millbank Business Park, Lucan, Co Dublin – which sold for €1.45m, or €200,000 over its guide price.
Extending to 980sqm over ground and first floor, the fully-fitted property came with 66 surface car spaces.
Part of it has been let at an annual rent of €60,000 to Nostra Technologies Ltd, which is expected to leave next month.
An investment at Unit C, Westland Business Park, Willow Road, Dublin 12, sold for its €950,000 guide price.
Extending to 1,602sqm, it comprises predominantly offices together with retail warehouse accommodation and comes with 22 car spaces.
The larger of its two units is let to DK Windows and Doors at an annual rent of €53,000 on a lease which runs to 2039. Unit 2 is let to Avello Limited at an annual rent of €16,000. However the auctioneer indicated that this tenant provides security for the business park in lieu of rent.
A retail investment property in the centre of Cork sold for €970,000 or €70,000 over its guide. Located at 66, St Patrick’s Street, its current annual rent reserved is €85,000 – stepping up to €90,000 per annum in years four and five, a gross initial yield of 8.76 pc.
Extending to 438sqm, over ground floor and four upper floors, it is let to Sirocco Foods Ltd and Tonsure Ltd, trading as Spar. Its lease provides for a rent review linked to the consumer price index. It also benefits from rear access from Paul Street, a busy retail street.
A vacant property on one of Limerick’s busier retail streets sold for €806,000 or 64pc over its €490,000 reserve.
Located at 17A-19C Cruises Street, the property extends to a 6,683sqft over three floors and benefits from dual frontage on the corner with Chapel Street.
In Kinsale, Co Cork, a residential development property with a three-bed bungalow on the Bandon Road known as Tara, sold for its €890,000 guide.
A planning application had been drafted for 12 residential units including eight semi-detached houses on the 1.24 acre site. Furthermore the auctioneer says it may have potential for up to 17 residential units subject to planning.