Granary Court , Middleton, Co Cork

Asking Price: €835,000

Property Location

Midleton is a market town in south east Cork. It is adjacent to, and on the north side of the N25 which links Cork to the port of Rosslare. Being just 16 km to the east of Cork city, it acts as a satellite town and forms part of metropolitan Cork. It is the central hub of business for the East Cork Area with a strong employment base to include the Jameson Distillery. The 2011 Census of Ireland records its population at 12,001. The property occupies a central location on the north side of Connolly Street, between its junctions with Main Street and Drury’s Avenue. This is a central location with a good volume of passing traffic, both pedestrian and vehicular. Access is via a gated on-street archway leading to an enclosed private carpark. Neighboring properties are predominantly of a retail nature. Midleton railway station is on the Cork Suburban Rail network and is one of two termini (other being Cobh) into and out of Cork Kent railway station. Bus Eireann also run a number of routes serving the town with destinations to include Ballycotton, Whitegate, Cork City, Waterford, Ballinacurra and Carrigtwohill.

Property Description

For sale on instruction of Aiden Murphy (Receiver) Crowe Horwath, Granary Court development is a three storey former grain store building. The grain store was converted as part of the Granary Court complex c. 2006. The property comprises a mix of residential and retail units in a number of blocks at the centre of Midleton. This investment is made up of 8 two bedroom duplex apartments, as well as two ground floor unfinished commercial units. The units can be accessed off Drury’s Avenue via an archway or through the Granary Court Complex.

Property Specification

- Excellent opportunity to purchase 8 Apartments and 2 Commercial units - Net yield of approximately 8.3% per annum - Current rent is approximately €84,900 per annum -Gas heating - Double glazing throughout -1 designated car space per unit - Management fees are in the region €1,150 per apartment p.a. - Management fees for the 2 commercial units are in the region of €575 per unit p.a.

Property Size/Area

8 x 2 bedroom apartments and 2 Commercial Units

Service Charge

Management fees are in the region €1,150 per apartment p.a. Management fees for the 2 commercial units are in the region of €575 per unit p.a.

VAT

Please refer to Agent

BER Rating

BER Number

On request

Energy Performance Indicator