SOLD MARCH 2022 – Extremely Rare Opportunity To Acquire A Mixed Use Investment Property In The Heart of Bunclody. For Sale By On Line Auction On The 22rd March 2022 At 3pm.
Tuesday’s auction saw a former public house with 1st and 2nd floor residential accommodation come to the market. The ground floor of the property previously traded as ‘The Mall’ public house with kitchen and storage facilities located in the basement. The first and second floors provide spacious residential accommodation with four bedrooms in total. ‘Mall View House’ benefits from a substantial site within the town centre of Bunclody extending to C. 0.2 Acres. The extensive rear yard offers potential for expansion of the existing property (S.T.P.P), as well as a range of commercial uses.
The substantial property provides 426 sq. m. of useable floor area, 280 sq. m. currently in commercial use with a further 146 sq. m. in residential use. The high profile property had attracted strong interest since its launch. Property consultant Jack Quinn noted that “several enquiries were made prior to its launch”. Jack advised that “approximately 15 parties viewed the property, each with a different vision for ‘Mall View House’. Some had plans to revive its previous use as a vibrant bar and lounge, while others were focused on converting the entire property into apartments”. The property was offered to the market with a reserve price of €200,000.
On the day of the auction, bidding began at €150,000 and quickly jumped to €170,000. With six further bids the reserve of €200,000 had been reached and the property was declared ‘on the market’. Following this, a new bidder joined the race to secure Mall View House with a bid of €205,000. After reaching €210,000, bids of €2,000 were accepted. After a steady stream of initial bidding, a bidding war ensued between several parties. Forty bids later, the hammer fell at €290,000 and the property was sold.
Speaking after the auction, Jack Quinn expressed his delight with the outcome, “I am thrilled that today’s auction produced a great outcome for our client”. He also commented that with “over fifty bids in total, the auction of Mall View House was particularly active”. The price achieved was 45% in excess of the reserve.
To view the full listing please click here. Our next auction takes place on Thursday 31st of March where we have two valuable land holdings totalling over 40 acres coming to the market. Details of Knockanooker, Knockananna can be found by clicking here. Details of Coolafunshoge, Tinahely are available here.
With the property market continuing to perform well, please contact us if you are considering selling your property, either by way of auction or private treaty.
QUINN PROPERTY – No.1 Independent Auction House in the South-East
Tel: 053 94 80000