Agent QRE has wrapped up the sale of a commercial building at 2, 4 and 6 Temple Road in Blackrock, Co Dublin, through online bidding.
The two-storey building off main street extends to 145sq m (1,560sq ft) and is producing a rent of €27,500 from a ground-floor hairdressing sale. The open-plan office space on the first floor is vacant.
The online bidding lasted 38 minutes with five interested parties making 35 bids.
The investment was eventually sold for €525,000, about 23 per cent above the €425,000 guide price. The net initial yield will be 5.01 per cent.
Ellen Prenderville of QRE said that because of the level of interest in the property they utilised the online bidding technology in order to deliver a signed contract within a four-week marketing period.
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