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Agent QRE has wrapped up the sale of a commercial building at 2, 4 and 6 Temple Road in Blackrock, Co Dublin, through online bidding.
The two-storey building off main street extends to 145sq m (1,560sq ft) and is producing a rent of €27,500 from a ground-floor hairdressing sale. The open-plan office space on the first floor is vacant.
The online bidding lasted 38 minutes with five interested parties making 35 bids.
Investment
The investment was eventually sold for €525,000, about 23 per cent above the €425,000 guide price. The net initial yield will be 5.01 per cent.
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Ellen Prenderville of QRE said that because of the level of interest in the property they utilised the only bidding technology in order to deliver a signed contract within a four-week marketing period.
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