St. Catherines Church, Bridgefoot St, Dublin 8

Asking Price: €1,800,000

Property Location

The subject property is located off Bridgefoot Street between Oliver Bond Street and Thomas Street, in the heart of the Liberties. Less than 2km from Dublin city centre, the area is a hub of activity with a wide range of amenities in the surrounding area including bars, restaurants and cafes together with Vicar Street (concert venue) and The National College of Art and Design (NCAD). The area enjoys good transport links with numerous bus routes serving the area, providing connectivity to the city centre and suburban locations. The Red Luas line is accessible at Smithfield and St. James’s Hospital; circa a 12 minute walk away. Surrounding occupiers include: Subway, Spar, Lidl, Tesco Express and Busy Bees Youth Club.

Property Description

• Modern multi-family investment • 13 apartments laid out over two blocks • Comprising 13 x units (9 x 1 beds and 4 x 2 beds) • City centre location • Total passing rent €123,780 per annum • 93% occupancy • Total estimated rental value of approximately €171,000 per annum • Apartments ranging in size from 38 Sq. m to 68 Sq. m • Excellent transport links • Opportunity to increase rent roll and enhance return by asset management • Quoting €1,800,000 Private Treaty (6.7% net initial yield and a reversionary yield of 9.2%) St. Catherine’s Church comprises a residential development providing two separate apartment blocks set around a decked courtyard which was constructed c.2003. The subject property comprises 13 x apartments situated over four floors with lift access. The development consists of 9 units in Block A and 4 units in Block B. The entire development comprises 15 x apartments in total together with two retail units at ground floor. For the avoidance of doubt, the two remaining apartments and retail units do not form part of the sale. Internally, each apartment is laid out to provide open plan kitchen/living area, bedroom(s) and bathroom. Several of the units benefit from balconies.

Property Size/Area

Apartments ranging in size from 38 Sq. m to 68 Sq. m

Rates

N/A

Title

Long Leasehold

VAT

VAT is applicable on the sale of this property

BER Rating