c. 15% Rental Yield, 63 Connolly Street, Fermoy, Cork, P61Y753

2 Bedroom Mixed Use Contract Deposit Applies
Starting Price* 130,000

Bidding available from
15th December 2022 15:30
until
15th December 2022 16:00

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  • Overview
  • Particulars
  • Request Details
  • Agent Details
  • Deposit & Charges Explained

Property Overview

For sale by Lorraine Spillane Auctioneers via the iamsold Bidding Platform

Potential rental yield of c. €1,600 per month which would reflect at c. 15% gross rental yield at the guide price.

We are delighted to welcome to the market this mixed use 3 floor property. The property offers a combination of a Residential and Commercial units set in the heart of Fermoy town beside a large public carpark.

The commercial unit boasts 25 square meters inclusive of 2 rooms, storage area and W.C. and is enhanced by the fact that it faces onto the Main road.

There is easy access to the Residential unit, which consists of a 2 bed apartment, split over 2 floors.

This unit was formally a very successful hair salon with separate letting of the Apartment, and while it will need some TCL and modernisation, it offers great potential for the right buyer.

Overall Floor Area: 75 m²
Services: Mains water supply, Electric Storage Heating
BER D1 / BER No. 112888854

TO VIEW OR MAKE A BID Contact Lorraine Spillane Auctioneers or iamsold, www.iamsold.ie

Starting Bid and Reserve Price

*Please note all properties are subject to a starting bids price and an undisclosed reserve. Both the starting bid and reserve price may be subject to change. Terms and conditions apply to the auction, which is powered by IAM Sold Property Auctions.

VAT is applicable on the purchase price for this property.

Auctioneer's Comments

This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale.

Building Energy Rating (BERs)

Building Energy Ratings (BERs) give information on how to make your property more energy efficient and reduce your energy costs. All properties bought, sold or rented require an BER. BERs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your property could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All properties are measured using the same calculations, so you can compare the energy efficiency of different properties.

Ground Floor - Commercial Unit

1st Room:
4.89 mts x 4.32 mts
Large window to the front of premises, tiled floor

2nd Room:
5.05 mts x 3.08 mts
Window to the rear of premises, tiled floor

Storage under stairs:
1.10 mts x 3.3 mts

Toilet:
1.64 mts x 0.97 mts

Small yard to the rear

First Floor - Apartment

(Accessed via side entrance)

Kitchen/Dining:
3.59 mts x 2.97 mts
Laminate floor, fully fitted kitchen with south facing rear window

Living room:
4.01 mts x 5.49 mts
Laminate floor, window to the front

Bathroom:
1.97 mts x 3.01 mts
Tiled floor, toilet, whb, electric shower over the bath

Second Floor

Bedroom 1:
2.3 mts x 5.24 mts
Laminate flooring, velux window

Bedroom 2:
3.53 mts x 3.62 mts
Laminate flooring, velux window

Landing:
3.16 mts x 1.48 mts

Request full details for this property

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Lorraine Spillane Auctioneers

Local Branch: 3 Brian Boru Sq., Fermoy, CORK
Head Office: 3 Brian Boru Square, Fermoy, CORK

Deposit & Charges Explained

c. 15% Rental Yield, 63 Connolly Street, Fermoy, P61Y753

Online Auctions

A non-refundable contract deposit of 10% (minimum deposit of €6,500.00) is required to be paid by the successful bidder for this property.

A Bidder Security Deposit of €4,500.00 is required to be pre-authorised from the bidders debit or credit card through the payment facilities on the auction website when registering to bid. A bidder has also the option of transferring the minimum deposit amount by bank transfer to iamsold's client account to authorise them to bid on the Online Auction (please note, this option may take several days).

The pre-authorisation amount will only be captured from the successful bidder on acceptance of their bid. This will form part of the non-refundable part payment contract deposit.

Any balance of the full contract deposit must be paid by the successful bidder to iamsold within 48 hours of acceptance of their bid. The deposit balance can be paid by debit/credit card, or same day bank transfer to iamsold's client account.

All unsuccessful bidders will have their pre-authorisations released OR their bank transfer refunded within 5 working days of conclusion of an auction or withdrawal of the Lot from the Online Auction.

Bidders are required to pay a non-refundable €50.00 (including 23% VAT) registration fee per property they register to bid on.

 

Need More Information?

For further information or to speak to one of our team, please call 021 234 9696.

Disclaimer

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection, measurement or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. Properties may be sold via online auction or public auction and bids made prior to public auction may be accepted by the vendors. IAM Sold and our partner auctioneer will share relevant personal information and transactional updates with each other so that we can effectively market and sell properties including the arrangement of viewings and follow up.

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