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€1,100,000
Description
Key features
• Recently Developed Residential Portfolio
• Centrally located within redeveloped Clanbrassil Quarter
• Adjacent to Creative Spark Downtown Hub
• 7 Apartments (4 x 1 bed, 3 x 2 beds)
• Loft style living with modern fitout
• High Income Investment offering 9.25% yield
• 100% occupation with minimal downtime since developed.
‘Colmcille House’ in Dundalk is a superb investment opportunity consisting of seven no. one and two bedroom apartments, producing an attractive income in excess of €105,000 per annum. Centrally located in the heart of the Clanbrassil Quarter, this property offers modern living, each with individual style and flair.
This property extends to over 430sq m / 4,628sq ft and has been redesigned with approved planning to loft style living in recent years, from previous warehouse buildings to create this unique collection of highly sought after rental apartments. The apartments are thoughtfully designed to provide light filled interiors with generous glazing and minimalistic styling for its residents who are attracted to its prime town location and position adjacent to Creative Sparks Downtown Hub (co-working space).
The boutique investment offers a great choice for the savvy investor seeking good returns in a convenient location within Dundalk Town Centre, an area benefiting from the recent rejuvenated Clanbrassil Quarter. Demand for both rental accommodation and townhouse residential properties in this area has seen a resurgence with Dundalk experiencing steady growth and rising demand for quality housing making this exceptional apartment collection, an enticing investment opportunity for an astute investor. Colmcille House, would make an excellent opportunity for an investor either starting out in the business or a more seasoned buyer looking to add a lucrative, turnkey, well-maintained building with strong growth potential, to their portfolio.
The current passing rent is €105,348 per annum represents a net initial yield of 9.25% (after standard purchasers costs) with the property offering further income growth potential under the new rental guidelines.
Full details upon request.
Features
• Recently Developed Residential Portfolio
• Centrally located within redeveloped Clanbrassil Quarter
• Adjacent to Creative Spark Downtown Hub
• 7 Apartments (4 x 1 bed, 3 x 2 beds)
• Loft style living with modern fitout
• High Income Producing Investment
• 100% occupation with minimal downtime since developed.
BER Information
BER Number: 113876395
Energy Performance Indicator: 194.94 kWh/m²/yr
About the Area
Dundalk is the county town and administrative capital of County Louth, situated where the Castletown River flows into Dundalk Bay. The town is close to the border with Northern Ireland and equidistant from Dublin and Belfast. The town's name, which was historically written as Dundalgan, has associations with the mythical warrior Cú Chulainn. In 2003 Dundalk was amongst nine cities and towns to be designated Gateway status in the Irish Government's National Spatial Strategy.
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