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Donegal properties sold at ‘distressed’ auction

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A NUMBER of Donegal properties were sold for more than €900,000 at two Allsop Space ‘distressed’ auctions in Dublin last week.

The most notable was a mixed commercial premises on Letterkenny’s Lower Main Street which contains Boot’s Chemist and the Holland and Barrett health food shop. It was sold for €815,000, exceeding its reserve price of €740,000.

The combined rental income from these premises is more than €200,000 per annum.

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The auction catalogue contained details in relation to the property which extends to approximately 1418.19 sq. m (15,273 sq. ft) in total.

Number 4 is let to Boots Retail (Ireland) Ltd t/a Boots with a lease expiry in 2015. The adjoining building, number 6, is let to Natures Way (Dublin) Limited t/a Holland and Barrett with a lease expiry in 2020.

Number 8 is subject to tenancy and the remainder of the property is vacant.

The property is arranged over ground, first and second floors to comprise a mid terrace mixed use building. Internally the property comprises: A two storey retail unit occupied by Boots; A ground floor retail unit occupied by Holland and Barrett and a first floor office suite occupied by Voodoo.

Other lots in Donegal to go under the hammer were three separate, and occupied, one-bed apartments at Railway Court, Pearse Road, Letterkenny which were sold for just over €30,000. They each had a reserve prices of €20,000.

Meanwhile a 1.74 acre site in Carrigart, which had a reserve price of €5,000, was eventually sold for €52,000.

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