The Marble Arch public house and off licence at Benbulbin Road in Drimnagh, Dublin 12, will be one of the highlights of Allsop’s next auction, on October 22nd, when it is offered for sale on behalf of the Louis Fitzgerald Group.
A reserve price of €750,000 to €800,000 has been set for the landmark premises which extends to 999sq m (10,753sq ft) and will be sold with vacant possession.
This arrangement will not apply to the adjoining bookmakers, let to individuals trading as Hacketts who have a 35- year lease from 1999 at a current rent of €17,500. An advertising hoarding attached to a gable wall provides another €4,000 in rental income.
Allsop has assembled a catalogue of 62 commercial properties to go under the hammer with reserves totalling €17 million. Dublin investors will be particularly interested in four ground-floor retail units at Abbey Street, Dublin 1, which will be offered for sale in one lot. The reserve range will be €450,000 to €500,000.
The units vary in size from 64-85sq m (688-914sq ft) and are producing a rent of €72,103 from tenants Eataly, GSM Solutions and Kennan Property Management.
Overall reserves of €1,445,000 have been set for two retail warehouses in Santry in north Dublin, another one in Kells, Co Meath, and a fourth in Ballincollig, Co Cork, which are to be sold on behalf of Door Depot.
The portfolio has an overall floor area of almost 9,290sq m (100,000sq ft) which is currently vacant. The highest- value property extends to 5,126sq m (55,176sq ft) and is located at Oldcastle Road, Kells. It carries a reserve range of €530,000 to €580,000. The lowest price of €225,000 to €245,000 will apply to 1A Santry Avenue in the IDA industrial estate, where the warehouse has a floor area of 1,436sq m (15,457sq ft).
In Naas, Allsop will be quoting a reserve of €850,000 to €900,000 for five vacant warehouse units within a development of six at Southern Link Business Park. The buildings have an overall floor area of 2,672sq m (28,763sq ft) and come with a small site with planning permission for further development.
Allsop is also expecting competitive bidding on a mixed retail and residential portfolio, partially let, at Cavendish Lane in Castlebar, Co Mayo, producing rent of €161,616 a year. Two of the six retail units in the development are let, along with 17 of the 18 apartments. The reserve for this property will range from €700,000 to €900,000.
Richard O’Neill, head of commercial auctions, said there had been a growing demand in the first half of this year for well-located urban investments and regional assets let to blue-chip covenants. He hoped their catalogue of properties would go some way to satisfying the continuing groundswell of demand for well-located industrial properties.
