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Next distressed property auction includes entire street in Tipperary

All 18 units of Market Place in Clonmel will be sold in a single lot with a reserve price of €900,000.

IF YOU HAVE EVER wondered what it would be like to have a street named after you, you now have that opportunity – provided you’re willing to buy the rights.

Market Place in Clonmel, an entire street comprising of 18 units and buildings, is up for sale at a distressed property auction being held next month.

A reserve price of €900,000 has been put on the entire street, which will be sold at the Allsop Space auction on December 4 – being held the day before Budget 2013 is announced. The units currently bring a combined annual rental income of €231,645 per year.

A total of 109 lots will be up for sale at the auction, including 55 commercial properties and 54 residential properties.

Among the lots in Dublin is Dartmouth Square, the Ranelagh square which hit the news in 2005 when its owner Noel O’Gara tried to turn it into a car park. The two-acre site has a reserve price of €140,000.

Other Dublin units include Olympia House on 63 and 63a Dame Street, which includes 12 tenancies and has a reserve price of €380,000, and a retail outlet occupied by Centra on Capel Street which is up for sale for €550,000.

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Residential offers include a two-bedroom seaside apartment in Leitrim for €15,000, and the Fearann Rí apartment complex in Doughiska, Galway City. The latter, which includes 10 apartments and yields an annual rent of €61,000, is up for sale at €310,000.

“We have been seeing strong interest from those seeking commercial investment opportunities, or those looking to set up business again,” said Robert Hoban of Allsop Space.

“Many are returning from abroad, while others are owner occupiers looking to secure viable business opportunities at open market price. The residential demand remains strong for well located property, whether vacant or tenanted.”

Read: Dartmouth Square among lots in latest distressed property auction

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Gavan Reilly

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