Robswall, Coast Road, Malahide

Asking Price: €6,500,000

Property Location

This portfolio is located on the Coast Road between Malahide and Portmarnock, in one of Dublin’s most picturesque coastal locations. The surrounding area is predominantly residential in character including established residential addresses such as Biscayne, Seapark and the Old Golf links. Malahide Village is located within 1.5km.

Property Description

Robswall is a modern residential development completed in 2005. The properties comprise a mix of one, two and three bedroom apartments/ penthouses/duplex apartments and houses, ranging in size from 51 Sq. m to 125 Sq. m. 19 of the units are let, giving an occupancy rate of 70%. The properties are currently producing a gross rent of €330,000. An estimated open market rent for all units would be in the region of €490,000. The development has the benefit of a combination of surface and basement car parking. The properties are render finished with charcoal grey aluminium windows, and balconies overlooking the communal gardens and the coast road. Income Summary • 27 high quality residential units • Available in 1 or 2 lots • 9 x three bedroom penthouses, 13 x two bedroom apartments, 4 x one bedroom apartments and 1 x two bedroom duplex house • 27 car parking spaces • Impressive residential scheme finished to a high specification with landscaped communal gardens • Generously sized apartments ranging in size from 51 Sq. m to 125 Sq. m • Excellent transport links including Malahide DART station and Dublin Bus services • Producing an overall gross rental income of €328,500 per annum • Estimated Rental Value: €492,000 per annum • 70% Occupancy Rate • Opportunity to increase rent and enhance return by asset management • Net Yield 6.55% (off ERV)

Title

Leasehold

VAT

VAT is not applicable on this sale.

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