3rd May, 2017

PROPERTY: 24 Cork Properties on Offer at Allsop Residential & Commercial Auctions in May

3 May 2017
By Bryan T. Smyth
bryan@TheCork.ie

Allsop have launched the catalogue for their May Online Auctions which will see over 210 properties with a total reserve of over €35m go under the virtual hammer. The residential auction, which features over 140 properties, takes place on 17^th May and the commercial auction, featuring over 70 properties, takes place the following day, 18^th May. 24 Cork properties are included and can be viewed here. The full catalogue can be viewed here.

Jonathan Fenn, Director at Allsop, commented on the launch of the catalogue:

“In the context of continued low levels of supply, it’s no surprise that the launch of a new Allsop catalogue is a significant event for Ireland’s buyers. We’re very pleased with the quality and range of properties for sale in the forthcoming May auction – attractive red-brick houses, a beautiful Gate Lodge, and three and four bedroom family homes will appeal to owner-occupiers.”

He added:

“Investors keeping an eye out for income-generating commercial or multi-unit residential properties will not be disappointed – a portfolio of ten apartments in Dublin 1 generating €136,200 per annum and a bookmakers with two apartments overhead in Bishopstown, Cork, are among the highlights.”

Cork Commercial Highlights

The commercial offering is characterised by properties that are income-producing or have a strong re-letting capacity, creating potential for long-term investment and add-value options. Headlining the selection is a mixed-use investment in Bishopstown, comprising a ground floor bookmakers with two apartments overhead. The bookmakers is let to Boylesports and both apartments are also tenanted, generating €88,300 per annum in total. The property is reserved at €1,000,000 – €1,100,000. Another notable property is a ground floor restaurant with office accommodation overhead on French Church Street in Cork City Centre. The restaurant is occupied by the Strasbourg Goose Restaurant and the offices are also tenanted, bringing the total rent roll to €43,644 per annum. The property is reserved at €500,000 – €535,000. Further commercial highlights are listed below.

Cork Residential Highlights

Highlights among the wide selection of houses on offer include an attractive three-storey red-brick property on Military Hill in Cork City reserved at €245,000 – €255,000; a detached six bedroom house in Cobh with panoramic views of Cork Harbour which is reserved at €290,000 – €300,000; and a four bedroom mid-terrace on High Street reserved at €145,000 – €155,000. Further residential highlights are listed below.

Highlights – Commercial

Lot 164: Catherham House, Looneys Cross, Bishopstown, Co. Cork

A prime mixed-use investment
Comprising a ground floor bookmakers and 2 x apartments overhead
Extending to approximately 236 Sq. m (2,544 Sq. ft) in total
Ground floor retail unit let to Boylesports Limited (lease expiry 2031)
Apartments subject to tenancies
Total current rent reserved €88,300 p.a.

RESERVE RANGE €1,000,000 – €1,100,000

https://allsopireland.ie/auctionlot/onlinelotdetails/21002

Lot 169: 17 / 18 French Church Street, Cork

A mid-terrace mixed use investment
Comprising ground floor restaurant with office accommodation overhead
Extending to approximately 203.88 Sq. m (2,195 Sq. ft) in total
Restaurant occupied by Strasbourg Goose Restaurant
Lease expiry 2033
Office accommodation subject to 2 x rolling agreements
Total current rent reserved €43,644 p.a.

RESERVE RANGE €500,000 – €535,000

https://allsopireland.ie/auctionlot/onlinelotdetails/20941

Lot 181: Former Garden Centre, Clonakilty Road, Bandon, Co. Cork

A former garden centre & land holding
Garden centre extending to approximately 557 Sq. m (6,000 Sq. ft)
Land holding extending to approximately 5.66 hectares (14 acres)
Potential for a range of uses (subject to obtaining all necessary consents)
Vacant possession

RESERVE RANGE €275,000 – €295,000

https://allsopireland.ie/auctionlot/onlinelotdetails/21037

Lot 190: Great Gas, Shortcastle Street, Mallow, Co. Cork

A petrol station facility comprising forecourt, 3 x double sided fuel pumps and 2 x retail units
Town centre location
Suitable to a variety of uses (subject to obtaining all necessary consents)
Vacant possession upon closing

RESERVE RANGE €245,000 – €255,000

https://allsopireland.ie/auctionlot/onlinelotdetails/20736

Lot 172: Unit H2, South Link Park, Ballycurreen, Cork

A mid-terrace warehouse unit
Extending to approximately 510 Sq. m (5,490 Sq. ft)
Providing ground and first floor offices with warehouse accommodation to the rear
Let to Pyeroy (Ireland) Ltd under an open ended agreement
Current rent reserved €12,000 p.a.

RESERVE RANGE €185,000 – €195,000

https://allsopireland.ie/auctionlot/onlinelotdetails/20861

Lot 186: Leahy House, Carrigaline, Co. Cork