Property Auction Highlights Investor Demand

There was much interest at the recent auction of four Waterford city properties which was held in the offices of Sherry FitzGerald John Rohan’s on Thursday 29th of November.

First up for auction was 52 John St which comprised a ground floor retail unit which most recently operated as a barbers shop and office space overhead. With a guide price of €110,000, bidding started at €90,000 and continued increasing rapidly with a number of interested parties. The property achieved €190,000 after some very competitive bidding.

The second property to the auctioned was 68 O’Connell St, Waterford – a mid terrace property comprising of 1 x 1 bed apartment and 3 x 2 bed apartments with yard to rear. Auctioneer John Rohan commented “ The investor market continues to be strong and we had anticipated a good level of interest in this property. The guide price was €180,000 and was driven up by competitive bidding resulting in an excellent price attained of €250,000.

Final on the auction listing was 54 John St and Unit 1 Parnell Court – two commercial properties which were sold as one lot with tenants not affected. John Rohan says “ This property is known to most as Bodega Restaurant and was sold in tandem with a small retail unit in Parnell Court to the rear. The overhead floors have the benefit of a separate entrance and include office space, storage and staff facilities. “ The property achieved the Advised Market Value of €380,000.

Rohan concluded “This was a good day for all concerned. The buyers were all pleased with the outcome and the strong prices achieved are a good indication of confidence in the property market in Waterford.”

For further information contact Sherry FitzGerald John Rohan, Manor House, Cork Road, Waterford. Tel: 051 – 843 880. W: www.sherryfitz.ie E: info@johnrohan.ie</p<