Allsop Space puts 110 commercial lots up for sale

Two-day sale to take place in December will also include residential properties


Allsop Space is having its first two-day sale on December 9th and 11th with more than 300 properties worth €55 million on the block.

The first day of the sale is dedicated to commercial property with 110 lots on offer.

Among the highlights is a retail and office building at 93 and 95 Terenure Road, Terenure, Dublin 6W. It extends to 965sq m ( 10,385sq ft), is divided into six units (four are vacant) and produces a rent roll of €71,700.

Ulster Bank occupies the main retail unit on a 25-year lease from 1994 at a rent of €63,000. Bluescreen Ltd rents Unit 4 on a short-term agreement at €8,700 per annum.Allsop Space is quoting a reserve range of €950,000-€1.05 million for this investment.

Units 2 & 3 at Trinity Plaza on Tara Street in Dublin 2 are available in one lot. The two retail investments are producing a rent roll of €93,000 and the reserve range is €1 million to €1.1 million.

CW Corporate Services Ltd trading as Prontaprint occupies unit 2 which extends to 110sq m ( 1,184sq ft). Its 25-year lease runs from November 1999 and the passing rent is €33,000, reverting to €48,300 on August 1st, 2017.

Ashglen Property Company Ltd trading as Spar rents unit 3 under a 25-year lease from March 1999 at €60,000 per annum.

A portfolio of 25 apartments at Greeg Court on Parnell Street in Dublin 1 has a reserve range of €3 million to €3.5 million. The 20 two-beds and five one-beds in one block, 24 of which are subject to tenancies, are currently producing rent of €297,300 a year.

Apartment scheme

In Tallaght, a development of 15 apartments and two townhouses at Greenhills Court on the Greenhills Road in Dublin 24 is producing rent of €145,000. It is let to Focus Housing Association Ltd on a 10-year lease from November 2013 and the agent is quoting a reserve range of €1.8 million to €1.9 million.

One of the most interesting properties for auction is to the rear of 22 St Stephen’s Green in Dublin 2. This lot comprises a ground floor recording studio and first floor three-bedroom apartment.

While the building is vacant and extends to 107.5sq m (2,365sq ft), Allsop Space is recommending that buyers check out the contract of sale and planning issues. A reserve range of €170,000- €200,000 is being quoted.