Monday 11 December 2017

Properties to be auctioned off at knockdown prices

TWO SELSKAR commercial properties are up for auction next month and are being guided at a fraction of their Celtic Tiger price tags in a Dublin property 'fire sale'.

The two receivership properties at 8 and 18 Selskar Street are among dozens of commercial properties being sold by auction specialists Allsop's in early July.

The freehold property at 18 Selskar Street is an end of terrace three story building that carries a reserve at the distress auction of €102,500. A previous guide for this property was four times that amount at €450,000. Meanwhile 8 Selskar Street - a four story ' investment freehold' - has a reserve of €220,000 with an existing tenant already paying annual rent of €20,400.

The rock bottom reserves, however, are likely to be exceeded when the go under the hammer in the Shelbourne Hotel on July 7.

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