A FREEHOLD mid-terrace building containing two separate restaurants opposite the American Embassy in Dublin and another D4 restaurant on Haddington Road are among the commercial properties to be auctioned on November 30th by Allsop/Space.
Both buildings are to be sold on behalf receivers Grant Thornton.
Number 174 Pembroke Road is next door to Gunne estate agents and has a restaurant on the ground floor and another one upstairs. The reserve at the auction will not exceed €485,000 and according to the agents the building has the potential to produce a combined rental income of around €92,000 per annum.
At Victoria House on Haddington Road, the reserve has been set at €325,000 for the ground floor restaurant which has an overall floor area of 215sq m (2,321sq ft). The modern premises are virtually freehold.
The joint agents have set a top reserve of €400,000 for a former nursing home at Stocking Lane, Rathfarnham, Dublin 14 which is also to go under the hammer in the Shelbourne Hotel at the end of the month. The extensive modern building stands on 1.64 acres within a residential development known as Airpark Avenue. There is currently planning permission for 32 townhouses. The site fronts on to the R115 Motorway close to the M50 flyover bridge.
Allsop/Space are also to auction 12 freehold commercial units at The Mart in Clifden, Co Galway. Seven of the single-storey terra ced buildings are currently unoccupied but the remainder are producing a rent roll of €31,0123 per annum.
Receivers RSM Farrell Grant Sparks have approved of a reserve no higher than €290,000 for the the portfolio. Unit sizes average around 60sq m (656sq ft).
In Drogheda, the selling agents have set a reserve of no higher than €200,000 for a ground floor retail premises and four self-contained bedsits at Trinity Street. Boylesports pays a rent of €57,500 under a nine years and 11 months lease which is due to expire in December 2013. The bedsits are currently vacant.
Also in Drogheda, a reserve no higher than €100,000 has been set for a freehold corner bar on Trinity Street. The two-storey over basement building has a seven-day licence. The selling agents recommend that viewers should “bring a torch” when visiting the premises.
Another end-of-terrace building, this time at Finglas Road in Glasnevin, Dublin 9, Allsop/Space have set a reserve of €125,000 for a two-storey building with two self-contained office suites.
Investors prepared to test their management skills may have the opportunity of buying a substantial mid-terrace building at 456 North Circular Road. It has no less than 13 bedsits and the reserve in this case will not exceed €205,000.
An even lower reserve of no more than €125,000 has been issued for five adjoining two- and three-bedroom apartments in Student Village at Old Cratloe Road in Co Limerick. The property is virtually freehold.
