Price on Application - For Sale|3,095 sqm approx
Block 8 Brookfield Hall, Castletroy, Limerick Investment Opportunity For Sale by Private TreatyGuide Price - €2.4 million (ex VAT)Investments Summary:- Excellent opportunity to acquire a modern student block within Brookfield Hall student complex.- Brookfield Hall is a purpose-built (circa 2000) student apartment complex located on the Groody Road in Castletroy.- The subject property comprises an entire four storey block within the complex of 234 units built around a courtyard setting.- Total of 40 student apartments within the block - 29 no. two beds, 8 no. three beds and 3 no. four beds.- The units offer modern spacious student accommodation with all units fitted to a good specification.- Limerick is home to over 21,000 students annually, with over 12,000 of which attending the University of Limerick.- Limerick City has seen large year on year residential rent increases for student accommodation.- Considering the very limited supply, both rents and capital values are forecast to continue to strengthen throughout 2017 and into 2018- The block is producing a net annual income of approx. €150,000 after deduction for all costs.- Guide price €2,400,000 (ex VAT)Location:- 3 Major Higher Education Institutions with 21,000 students / 6,000 graduates annually- Limerick is home to over 21,000 students annually (12,000 in the University of Limerick)- 6,000 graduates annually - Limerick has the highest disposable income outside the greater Dublin region - Midwest GVA is the 3rd Highest across the Irish Regions- Half a million people within 60 minute drive with almost 50% of the population under 35 years- Over 14,000 working in over 100 overseas companiesLocation Brookfield Hall is a modern student apartment complex situated just off the Groody Road in Castletroy. The complex is approximately 4 km east of Limerick city centre and approximately 1.5 km south of the University of Limerick. The surrounding area is predominantly residential with a mixture of private residential developments and student villages. Limerick City is the third largest city in Ireland and identified as a gateway city in the National Spatial Strategy for the mid-west region. This region encompasses County Limerick, County Clare, north County Tipperary and northwest County Kerry. The availability of a young talented workforce emerging from the University of Limerick is one of many factors attracting foreign direct investment to the city in addition to its accessibility to east, south and west of the country. UBER, Regeneron, Fazzi, O2, Northern Trust and Vistacon have all been established in Limerick and have continued to expand in the region in recent years.