D12 warehouse achieves highest number of bids at Allsop online auction

A WAREHOUSE in Western Park Industrial Estate in Dublin 12 achieved the highest number of bids ever recorded at an Allsop online auction.

The premises, Unit 292 on Beech Road in the industrial estate, commanded more than double the reserve price of €190,000 when it sold for €484,000 during last December’s auction, after attracting 206 bids over two hours.

The 994sqm warehouse comprises two-storey office accommodation with warehouse accommodation to the rear.

Nicole Pomeroy, Allsop Marketing Executive, said: “The intense bidding on this lot was reflective of heated demand for warehouse space in West Dublin.

“2016 saw average success rates of almost 90 per cent for all types of warehouse in this area – for Grade A spaces, the success rate was 100 percent.”

The December auction saw the company sell more than 150 properties, resulting in total sales of over €28m.

Speaking about the auction, Jonathan Fenn, Allsop’s Divisional Director, said: “Our December auction marked the end of a busy year for Allsop and we were very pleased with the results.

“The auction was characterised by competitive bidding from investors targeting properties with strong rental income and potential for asset management.”