Carlow apartment complex sells for €1.6m after two bidders fight it out for the property

A town centre mixed use investment property on Dublin Street in Carlow Town has been sold for €1.6m at public auction.

The Royal Apartment complex comprises fifteen apartments, three retail units, one office unit and 370 car parking spaces. 

Two separate bidders fought it out to the end before it sold on Thursday morning.

Bidding started online on Thursday morning and concluded shortly after 11am.

The property extends to approximately 1,238 sq. m (13,327 sq. ft) with ten apartments let under residential tenancies. 

The car park is occupied under an informal tenancy with NCPS. 

According to the advertisement: "The total current rent reserved €82,260 per annum with VP of 5 x apartments, 3 x retail units and 1 x office unit. 

"The property is arranged over ground and three upper floors to provide a mixed use development.

"Internally the property comprises 15 x apartments, 3 x retail units, 1 x office unit together with a five storey (370 space) multi storey car park. The property forms part of a wider mixed use development."