The Leinster Property Auction in partnership with Padraig Smith Auctioneers
Offered at bids over €299,000
Investment property comprising 7 day licensed premises with 12 en-suite bedrooms with excellent potential.
Presenting for sale this prominent premises in the heart of Ballinagh town along the main N55 (Cavan / Longford / Athlone / Galway Road).
The property extends over three floors to 570.4 sq.m (6140 sq. ft) comprising a Bar / Lounge / Function Area with capacity for 150 patrons including professional commercial kitchen and Ladies / Gents toilet facilities at two points. Spreading over the remaining floors are 12 en-suite bedrooms previously trading as a Bed & Breakfast business.
To the rear of the property is a large yard area with storage buildings and a garden space served by a side access off Main Street. The property was fully refurbished approximately 15 years ago and is in excellent condition throughout.
The sale of the property offers an excellent opportunity to an investor to return an excellent income from the above by trading the bar and lounge and possible conversion of the first and second into 4 residential units.
Features;
Fully renovated 15 years ago
High quality fitted bar and lounge units
Large function area
Fully fitted commercial kitchen
Services;
Bar / Lounge: Air Conditioning
First & Second Floor: Electric Storage
Mains Water & Sewerage
Directions;
Along Main Street in Ballinagh Town centre.
TO VIEW OR MAKE A BID - Please contact Padraig Smith Auctioneers or visit: www.padraigsmith.com, 049 4362244 or www.leinsterpropertyauction.ie, 01 687 5040
*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.
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 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.
Please contact us for more information about this property.
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.
For further information or to speak to one of our team, please call 01 687 5040.
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.
