Price on Application - For Sale|515 sqm approx
Investment Summary:27 Completed houses comprising of 25 x 3 Bed Units and 2 x 4 Bed Units.Site for Sale : Undeveloped site of approx. 0.43 acres (0.17 hectares).Rental Income : €320,000 per annum (approx) (Ex Vat)
Excellent opportunity to acquire modern residential development in an established and sought after tourist location within the village of Bunratty, Co. Clare.Investment comprises of 27 completed houses (25 no. three bed units and 2 no. four bed units) in addition to an undeveloped site of approx. 0.43 acres (0.17 hectares) and a Caretakers office.
The Bunratty West Holiday Village Complex comprises of 28 units in total set on a site area extending to approx. 3.46 acres (1.40 hectares). The units subject to sale comprise of unit numbers 2 – 23 & 25 – 29.Unit 1 comprises of the undeveloped site situated to the front of the complex.This site previously had a grant of planning permission for a commercial / tourism development incorporating a café / restaurant. Grant of planning has since expired (Ref 07/2837).We understand the gross rental income (ex Vat) before allowing for the deduction of management costs and outlays to be in the region of approx. €320,000 per annum.Potential to increase current rent roll through active asset management.Rents and capital values are forecast to continue to strengthen throughout 2017/2018.Offers sought in excess of ¤2.5m (excl. VAT).This reflects a Gross Initial Yield of approximately 12.80%. (excl. management charges and outlays)Available as a single lot only.Tenants not affected.