Executive Summary
Multi-Family investment opportunity 12 apartments ranging from 1, 2 and 3 beds 9,314 sq. ft (865 sq. m.) total net internal area Fully let Current passing rent of €179,400 per annum 8 secure underground car parking spaces Freehold title Offers sought in the region of €2,100,000, which reflects a Net Initial Yield of 8.17% after standard purchasing costs of 4.46% For the avoidance of doubt please note that this is an investment sale and the tenants are not affected Malahide
N1
N2 M1 Portmarnock
Balgriffin Sutton Blanchardstown N3 M50 Finglas Whitehall Location Howth Donaghmede
Raheny Dun Laoghaire is one of Dublin’s most attractive Clontarf suburb’s situated just 12 km south-east of the City Centre N4 Liffey Valley Palmerstown DUBLIN and only 30 minutes drive from Dublin Airport. Ballyfermot
Milltown N7 Crumlin N11 Blackrock Dun Laoghaire is a premier visitor and tourism destination, M50 AS Rathfarnham LU Stillorgan due to it’s coastal location, rich maritime history and rare N81 Dundrum Dun M50 Laoghaire Victorian architecture. This contributes to attracting 30,000 R117 visitors annually from cruise ships alone. George’s Street DART is characterised by strong footfall and is the established shopping destination within Dun Laoghaire with Bloomfield’s Shopping Centre in the immediate vicinity Transport together with retailers Dunnes Stores and Penneys. The area is well served by multiple public transport links, Dun Laoghaire has a young and vibrant population of with the Dart only a short stroll away to the north-east of the over 25,000 people. There are six primary schools, three property, Dublin Bus routes 7/46A/75, roadways N11/N31/ secondary schools and three institutes of further education. M11/M50 and an International Ferry Port are minutes away.
Description 128 Lower George’s Street is situated at the heart of Dun constructed to a very high standard. Laoghaire within walking distance of local amenities The property comprises, 12 apartments ranging and transport. Due to its location, the subject property between 1, 2 or 3 bedrooms, with balconies and provides the perfect opportunity to take advantage of patios. Cable TV, phone-lines and fully fitted south Dublin urban living, in amongst Dun Laoghaire’s kitchens are provided in each apartment. There charm, cafés and boutiques while offering a rare modern is a passenger lift servicing all floors with 8 living space on the doorstep of Dublin City. This property underground car parking spaces in the basement. is ideal for young families and young professionals alike The subject property received a certificate of and is an unprecedented investment opportunity. exemption under Part V of the Planning and Modern furnished luxury apartments completed in 2007, Development Acts 2000 and 2004.
Property Type size sq. m Sq Ft Floor
Apartment 1 2 Bed Duplex 94.00 1011.82 Ground
Apartment 2 2 Bed Duplex 110.00 1184.04 Ground
Apartment 3 2 Bed 75.40 811.61 First
Apartment 4 1 Bed 45.00 484.38 First
Apartment 5 1 Bed 51.00 548.96 First
Apartment 6 2 Bed 69.50 748.10 First
Apartment 7 2 Bed 75.40 811.61 Second
Apartment 8 1 Bed 45.00 484.38 Second
Apartment 9 1 Bed 51.00 548.96 Second
Apartment 10 2 Bed 69.50 748.10 Second
Apartment 11 3 Bed 92.00 990.29 Third
Apartment 12 3 Bed 87.50 941.85 Third
Total 865.30 9314.09
Please note the approximate areas referred to above are indicative only and all interested parties should satisfy themselves regarding their accuracy. Town Planning The subject property is located in an area zoned MTC – “To protect, provide for and for improve major Town Centre facilities” under the Dun Laoghaire Rathdown County Council Development Plan 2010-2016. The property is not listed as a protected structure under the current development plan.
BER Certificate:
Full Building Energy Rating certificates and Advisory Reports are available on request. Tenure We understand that the property is held freehold. VA T Further information available upon request. Capital Gains Provision Investors benefit from Capital Gains Tax relief if they purchase a property before 31st December 2013 and hold for seven years. We recommend all interested parties seek advice from their tax advisors and satisfy themselves in relation to all taxation matters. Proposal Offers sought in the region of €2,100,000 which equates to net initial yield of 8.17% assuming standard purchasers costs of 4.46% reflecting a break up value of €175,000 per apartment. Viewings All viewings are strictly by appointment through the joint selling agents DTZ and Guardian Property Asset Management. Contact details
Agents
DTZ Sherry FitzGerald Jane Dolan +353 (1) 6399300 [email protected]
DTZ Sherry FitzGerald Patricia Ward +353 (1) 6399300 [email protected]
Guardian Property Asset Management Ltd Conor O’Gallagher +353 1 668 0100 [email protected]
Solicitors
Benville Robinson Rory Benville +353 1 276 1330 [email protected]
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