THE SANDHOUSE Hotel overlooking the beach at Rossnowlagh along Donegal Bay is the best known property going for sale on Thursday of next week when Allsop/Space hold another auction of mainly distressed properties in Dublin’s Shelbourne Hotel.
The 55-bedroom hotel was run, from the 1940s, by the Britton family until it was put into liquidation.
It was offered for sale, along with a site, in 2008 for €6 million. The new reserve is €650,000 and the property includes a different site with planning permission for 16 apartments. The hotel infantry will be sold separately.
Allsop/Space is reporting strong interest in a retail and residential building at Harold’s Cross Road, Dublin 6, which has a reserve of €595,000.
Six modern apartments are currently producing a rent of €75,600 and with two ground-floor retail units vacant there is scope to boost the overall income.
In the city centre, there should be no shortage of investors pitching for a mixed retail and residential building at 22/23 Ormond Quay.
A ground-floor shop and six overhead apartments yield an income of €85,800 and there is still another apartment to be let. The reserve price in this case is €610,000.
Allsop/Space has set a reserved price of €70,000 for an office suite in a newly completed block at 34 Usher’s Quay, on the opposite side of the city quays.
The 87sq m (936sq ft) office suite is producing €18,000 a year in rent.
