BidX1, the digital property company that has sold more than €128m worth of commercial and residential property so far this year, is gearing up for a lively autumn after launching a new catalogue this week, with a further catalogue due to go live mid-September. The latest catalogue is for the auction on September 18 and 20.
Jonathan Fenn, director at BidX1, said: “We’re bringing a substantial number of properties to the market in September, all of which will be offered via our digital auction platform. The fact that this platform has proven successful across the full range of asset types, from houses and apartments to development sites and investment portfolios, is an endorsement of our core business proposition: a foundation of security and efficiency that benefits both buyer and seller.”
Describing the make-up of the current catalogue, Mr Fenn added: “We’re pleased with the calibre and variety of properties put forward in the catalogue; a good mix of tenanted and vacant stock, commercial and residential property, and investor/owner-occupier opportunities. A Georgian townhouse in the seaside suburb of Sandycove is one trophy property — stunning sea views from the rear may seal the deal for prospective purchasers, who will have to meet a reserve in the region of €1.4m. Meanwhile, a full apartment block of 32 apartments, Emmet Manor in Inchicore, headlines our investment offering. Having sold the adjacent Emmet Lodge for a price in the region of €3.2m earlier this year, we’re expecting significant interest in this lot.”
Emmet Manor in Inchicore, a full apartment block comprising 32 two-bedroom apartments, has been listed with a guide of €2.8m. With 28 of the apartments currently tenanted, the property generates €291,772 per annum. The adjacent Emmet Lodge, where all 24 two-bedroom and eight three-bedroom apartments are fully let, is generating an annual rent of €430,080, pointing to significant asset management potential for this lot. Emmet Lodge was sold by BidX1 for a price in the region of €3.2m earlier this year.
Two south Dublin sites, both in Rathmichael, provide significant residential development potential. A site of 3.9 acres at Old Connaught Avenue, with zoning to provide for new residential communities, carries a €1,325,000 guide price, while a smaller plot extending to 0.57 acre on the Ferndale Road with expired planning permission for a four bedroom house is guiding €420,000.
Outside the capital, a mixed-use investment in Sligo is guiding €1,900,000. The Benbulben Suites — tourist/student accommodation comprising 52 two-bedroom suites — is going under the hammer in the same lot as a detached industrial building, providing a mix of office and warehouse accommodation. The suites were intended as overflow accommodation for the Clayton Hotel but, with ownership separated in 2010, are now subject to a management agreement with Albanne; turnover for 2017 was approximately €479,000. The industrial unit is let to the North Western Health Board.
Two office blocks in Galway Technology Park, let to serviced office provider Level One Office and the Wellstone Clinic, a dialysis provider, for €124,460 per annum, are guiding €1.1m.
The catalogue also provides a strong selection of stand-alone residential opportunities — many in prime Dublin locations. A six-bedroom Georgian townhouse in the picturesque Sandycove is the most imposing property to feature, and will go under the hammer with a reserve of €1.4m. The Sandycove lot is rivalled by another elegant period house, located on Leinster Road in Rathmines. The end of terrace property is currently arranged to provide six self-contained units, but benefits from vacant possession, and BidX1 is guiding €1.1m. Also in Dublin 6, a house arranged in three self-contained units on Rathmines Road Upper is reserved at €450,000, while a mid-terrace three bedroom townhouse in Rathmines Park is being offered with a reserve of €400,000.
No fewer than 86 single apartments are being offered on the first day of the auction, September 18, a significant level of stock when considered along with the multi-unit apartment investments going under the hammer on the second day of the sale. Popular Dublin locations such as the IFSC, Kilmainham, Malahide, and Dun Laoghaire all feature, as do opportunities in Limerick, Cork, and Galway.
BidX1 is a pioneering online auction house providing buyers and sellers with a powerful, worldwide, online trading platform. Its specialist commercial and residential teams have sold more than 8,000 assets since the company was established in Ireland in 2011, raising in excess of €1.3bn. With the acquisition of London-based Andrews and Robertson in early 2018, BidX1 has become the second largest commercial and residential auction house in Britain and Ireland.
The company's focus is on using technology to enhance the experience of buying and selling property using an innovative, transparent, and trusted platform. It sells a broad mix of residential and commercial properties from houses and apartments to offices, pubs, industrial units, and development sites, as well as commercial and residential investment portfolios.
Its proprietary platform is backed by extensive real estate experience combined with the best of cutting edge technology, allowing you to buy or sell property online from anywhere in the world securely, efficiently, and confidently.
Lot 250: 32 Apartments, Block C, Emmet Manor, Inchicore, Dublin 8
An unbroken apartment block comprising 32 two-bedroom apartments; 28 of these apartments are subject to tenancies. Total current rent reserved €291,772 per annum.
Guide price €2,800,000.
Lot 227: Benbulben suites and industrial building, Sligo
The Benbulben suites comprise 52 self-contained two bedroom suites extending to approximately 6,893sq m (74,200sq ft ) in total. The units are connected to The Clayton Hotel and were intended as overflow accommodation, but ownership was separated from the hotel in 2010 and they are now in use as tourist/student accommodation. Subject to a management agreement with Albanne (overholding ), turnover for 2017 was approximately €479,000.
The industrial building comprises a detached unit, arranged to provide a mix of office and warehouse accommodation, extending to approximately 1,126sq m (12,130sq ft ) in total. The entire property is at present let to North Western Health Board for a term of 20 years from 01.04.1992 at a contractual rent of €63,000 per annum.
Guide price €1,900,000.
Lot 334: No 12 Summerhill Road, Sandycove, Co Dublin
An end of terrace six bedroom Georgian townhouse extending to approximately 358sq m (3,853sq ft ) with sea views to the rear. Vacant possession.
Reserve not to exceed €1,400,000.
Lot 230: Lands at Old Connaught Avenue, Rathmichael, Co Dublin
A prime south Dublin residential development site extending to approximately 1.57 hectares (3.9 acres ). Zoned Objective A1, to provide for new residential communities, the property is located in an established residential location, with ease of access to both Bray and Shankill. Vacant possession.
Guide price €1,325,000.
Lot 240: No 6 Rathmichael Haven (Folio DN155721F ), Ferndale Road, Rathmichael, Co Dublin
A prime residential development site extending to approximately 0.23 hectare (0.57 acre ) with expired planning permission for a four bedroom house. Vacant possession.
Guide price €420,000.
Lot 301: No 1A Leinster Road, Rathmines, Dublin 6
An end of terrace period house extending to approximately 192sq m (2,067sq ft ) and arranged to comprise six self-contained units. The property benefits from private parking to the front. Vacant possession.
Guide price €1,100,000.
Lot 224: Block 8 and 9 Galway Technology Park, Parkmore, Galway
An office investment comprising two purpose-built office blocks extending to approximately 1,752sq m (18,866sq ft ) in total. Let to Level One Office Limited and Zaledon Limited t/a Wellstone Clinic. Total current rent reserved €124,460 per annum.
Guide price €1,100,000.
Lot 311: No 157 Rathmines Road Upper, Rathmines, Dublin 6
An end of terrace house extending to approximately 105sq m (1,131sq ft ) and arranged to comprise three self-contained units. Vacant possession.
Reserve not to exceed €450,000.
Lot 239: No 29 Auburn House, Rathmines Park, Rathmines, Dublin 6
A mid-terrace three bedroom townhouse extending to approximately 77sq m (830sq ft ). Vacant possession.
Reserve not to exceed €400,000.
Lot 280: No 18 Gray Street, The Liberties, Dublin 8
An end-of-terrace three bedroom house extending to approximately 78sq m (840sq ft ). Vacant possession.
Reserve not to exceed €360,000.
Lot 41: Apartment 166, Custom House Harbour, IFSC, Dublin 1
A fourth floor two bedroom apartment extending to approximately 55sq m (590sq ft ). Vacant possession.
Reserve not to exceed €325,000.
Lot 3: Apartment 2, Barley House, Cork Street, Dublin 8
A first floor two bedroom apartment extending to approximately 74sq m (796sq ft ). Vacant possession.
Reserve not to exceed €285,000.
Lot 102: Apartment 94, Bow Bridge Place, Kilmainham, Dublin 8
A ground floor two bedroom apartment extending to approximately 65sq m (700sq ft ). Subject to a tenancy at a current rent of €15,000 per annum.
Reserve not to exceed €250,000.
For more information on these and other lots see bidx1.com