Six mullingar properties going under the hammer at allsop auction

There are six Mullingar properties going under the hammer at this month’s Allsop auction in Dublin.

The first property is a 'retail warehouse investment’ in Lough Sheever Corporate Park. Comprising three units, two of which are currently let to World of Tiles with a lease expiry in 2033, the 2,031 sq m property has a reserve price of €150,000 to €170,000. The two units leased to World of Tiles currently have an annual rental income of €40,000.

Also up for sale at the October 22 auction in the RDS is Mullingar fast food restaurant Buddy Cadillac’s, which is located on Castle Street. The 110.55 unit is currently 11 years into a 21-year lease and has a reserve price of between €50,000 and €60,000.

The final local commercial property set to feature at the auction is a 288 sq m warehouse located in Zone A of the Mullingar Business Park. The warehouse has a reserve price of €45,000.

There are also three Mullingar houses up for sale at what will be Allsop’s biggest Irish auction to date. Lot 142 is a three-bed semi-d in Lake Point, which has a reserve price of €90,000.

Lot 157 is a mid-terrace, three-bed townhouse in the Raithin Eoghain development. The property currently generates €6,000 a year in rental income has a reserve price of €40,000.

The last Mullingar property to feature is another three-bed house in Raithin Eoghain. This property also has a reserve price of €40,000 and currently has an annual rental income of €6,600.

Almost 200 lots will go under at this month’s auction, which follows Allsop’s previous property sale in September.

“We witnessed our most successful auction in September and with this new sale now scheduled for October we believe it to be a clear reflection of the strengthened demand and excitement in the property market,” said Rob Hoban, director of Auctions, Allsop Space.