The first Allsop Space auction of 2015 will take place on Wednesday, 18 February at the RDS, Dublin. There are 222 properties in the auction with a total reserve of over €40m, including 18 County Galway properties from areas including Ballybrit, Castlegar, Doughiska, Clifden, Dunmore, Loughrea, Milltown, Moylough, Oranmore and Galway City.
These properties are a combination of prime residential, land retail and commercial investment prospects.
One of the commercial properties available is Units 21 & 22 Briarhill Business Park, Ballybrit. This is a retail warehouse investment unit comprising showroom and warehouse accommodation and extending to approximately 567 square metres. The entire property is at present let on an informal tenancy with a current rent reserved of €49,200 per annum. The reserve range is €140,000 – €160,000. See allsopspace.ie/auction/lot/31753
On the residential side of things, lot 69 is Number 16 Nuns Island, a mid-terrace property internally arranged to provide four self-contained apartments situated approximately 350m from Galway’s main shopping streets.
The property consists of 1 x two-bedroom duplex apartment and 3 x one bedroom apartments. All four apartments are subject to tenancy with a total current rent reserved of €27,600 per annum. The reserve is set at €200,000. See allsopspace.ie/auction/lot/31679.
Lot 138 is No. 18 St. Bridget’s Terrace, Prospect Hill, Galway, a mid-terrace building internally arranged to provide 1 x two bedroom apartment and 1 x three bedroom apartment located just a short stroll from Eyre Square. The property extends to approximately 78 square metres and offers on-street parking. This property is subject to a tenancy with a total current rent reserved of €19,500 per annum. The reserve is set at €140,000. See allsopspace.ie/auction/lot/31714.
Also available for auction is lot 74, No. 184 Cluain Riocard, Headford Road, Castlegar. This is a ground floor, two bedroom apartment extending to approximately 61 square metres, situated in the Cluain Riocard development approximately 5km from Galway City Centre.
The property benefits from communal parking and a communal garden to the rear. This property is subject to a tenancy with a current rent reserved of €7,680 per annum. The reserve is set at €55,000. See allsopspace.ie/auction/lot/31520.
“2014 was a positive year for the market and a ringing endorsement of auction as a method of sale, resulting in 1,081 properties selling for a total of €264.5m through Allsop Space alone,” commented Robert Hoban, Director of Auctions, Allsop Space.
“While the market will always face new challenges, feedback from our buyers is that a very strong appetite exists for the right property in the right location. Passing income is of particular interest to investors. We anticipate that 2015 will be a very busy year as more and more properties come to the market to meet the continued demand.
“We witnessed a marked increase in first time buyers and owner occupiers bidding at auction and this is an upward trend we look forward to seeing continue in 2015,” added Mr Hoban.
Allsop Space has pledged not to handle the sale of repossessed family homes, or any properties subject to a legal dispute.