TAt a recent auction held in Wynns Hotel, Abbey Street, Dublin 1 on September 28h at 3pm Matt Dunne successfully sold 151/151a Crumlin Road, Drimnagh, Dublin 12, a modern 1,000ft/sq ground floor shop adjacent to Crumlin Hospital and the Gate Bar.
The disclosed reserve was €400,000 and three people chased the property where it was eventually sold at €415,000.
Lot 2 was a three storey terraced property on Main Street, Templemore, Co. Tipperary. This premises has traded successfully as a bookies for the past 20 years, and there was also independent access to two flats overhead.
The disclosed reserve was €200,000 and five people chased to its selling price of €255,000.
Lot 3 was market Square Tullamore, Co. Offaly. This property as operated as a bookmaker for the past 30 years but was extended in 2000.
A modern 1,400ft/sq state of the art bookie shop with independent access to two flats overhead. Its disclosed reserve was €350,000.
This property didn’t sell under the hammer but was successfully purchased within days of the auction for way in excess of the reserve.
Lot 4 was 1 Wolfe Tone Street, Clonmel, Co. Tipperary, a compact bookie shop c. 500ft2 with independent access to 2 flats overhead.
This property is situated close the Westgate monument in Clonmel and its disclosed reserve €200,000.
This property didn’t sell under the hammer but was sold immediately after the auction.
Matt Dunne’s clients were delighted with the result as the prices achieved were beyond their expectations. Matt Dunne made a comment that he feels he would have achieved higher prices if we had proper functioning banks as many genuine interested parties could not get finance as a result of a ‘break clause’ within the lease agreement.
All big companies that enter leases nowadays insist on break clauses and it most cases it’s just a formality that has to be inserted.
“If a tenant is trading successfully for years and has a good turnover a bank must be prepared to take to a view, and in this case they were not,” Matt commented.
(RIGHT) The property sold by Matt Dunne in Clonmel
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