Swords mixed-use investment has asset management potential at €1.7m

New auction house Artis to offer Burgundy House & Court in first online auction

Burgundy House  & Court in Swords, Co Dublin, is currently delivering €104,000 in rental income.

Burgundy House & Court in Swords, Co Dublin, is currently delivering €104,000 in rental income.

 

Former BidX1 director and stalwart Richard O’Neill has launched a new commercial and residential investment agency and auction house called Artis.

Richard’s role at the new venture will see him specialise in investment sales, auctions and advisory services.

Former head of industrial and logistics at Lambert Smith Hampton, David Scully meanwhile is joining Artis as divisional director.

Commenting on the company’s entry to the market, O’Neill said: “We are absolutely delighted to launch Artis. Our focus is at the trading core of the property market, where we firmly believe we can add value through a combination of professional expertise blended with cutting edge prop-tech.”

The company’s first online auction takes place via artisrealestate.ie on Thursday, September 5th and will see the sale of Burgundy House & Court, in Swords, Co Dublin.

Guiding at €1.7 million, the property is a mixed-use investment extending to an overall area of 1,982sq m (21,328sq ft), and comprising six retail units, one apartment, a restaurant, and over (10,000sq ft) of offices.

While the current passing rent is €104,000 per annum, there is significant scope to secure additional income through asset management. The subject property has a 46 per cent occupancy rate at present.