Killegland Portfolio, Ashbourne, Meath

Meath
Viewings
By appointment with the sole selling agents:
REA GRIMES, Main Street, Ashbourne, Co Meath
+353 (0)1 8350 392 / siobhan@reagrimes.ie
Sale Agreed

€ 1,250,000

Next Viewing:

** Offers in Writing by 16th July 2019 ** Contact the selling agent for full details
REA GRIMES ARE delighted to offer this residential portfolio to the summer market with vacant possession and no prior rental history.
• An excellent opportunity to acquire a residential portfolio providing 7 town centre apartments located in the commuter town of Ashbourne, Co Meath
• All residential units are currently vacant with an OMRV of €123,600pa.
• Annual Service Charges payable to Bohan Hyland in the sum of €13,393 pa
• Net Income of €110,207pa
• 1 unit was never occupied, 5 units are vacant since 2012 & one is vacant since 2016
• Three apartments located in Killegland Hall, 2 apartments located in Killegland House and 2 apartments located in The Courtyard.
• Generously proportioned residential units from 65m2 to 80m2 offering spacious accommodation
• Located in the vibrant town centre of Ashbourne, Co Meath and strategically located 5 minutes from the M2, 20 minutes from Dublin Airport, 15 minutes from Blanchardstown and 40 minutes from Dublin City Centre
• Car parking is available with underground parking for each apartment
• Available rental stock continues to fall leading to upward pressure on rents
• Asking Price €1,250,000 reflecting a reversionary yield of 8.11% after standard costs
• Sold as seen with furniture included and electricity will be connected
• VAT – Price quoted excludes VAT (if applicable)

Accommodation

• The Courtyard - 2 apartments comprising 1 X 3 Bed & 1 X 2 Bed apartments
• The House – 2 apartments comprising 2 X 2 bed apartments
• The Hall – 3 apartments comprising 3 X 2 bed apartments
Schedule of accommodation is available upon request

Location

Property type
BER: D2 - C2 BER No.various Energy Performance Indicator:various kWh/m²/yr
Key Features

Location:
Ashbourne Town Centre is at the heart of an established and bustling community and provides a core population of 12,679 persons (Source 2016 census data) with over 72% in owner occupation. Ashbourne is a thriving town with 5 (soon to be 6) primary schools and two post primary schools. The M2 motorway provides two exits which service Ashbourne, one to the north (J1) and one to the south of Ashbourne (J3). This leads to the M50 and provides easy access to the national road network.
The Killegland portfolio is close to all local amenities including public transport and Killegland Street runs parallel to Main Street Ashbourne. The mixed use scheme at Killegland was established in 2004 and provides approximately 18,580 sq m (200,000sq ft) of retail accommodation, 5,575sq m (60,000 sq ft) of office space and 435 residential units in total. Key retailers here include Tesco, New Look, Lifestyle Sports, Insomnia, McDonalds as well as many local independent retailers in addition to a host of eateries and pubs in the area.
Description:
The subject portfolio provides 7 residential units extending over 3 blocks which were constructed in 2006.
This portfolio provides 6no X 2 bedroom apartments and 1no X 3 bedroom apartment. Each residential block is
accessed by means of a keypad entry system. Each residential block is serviced by KONE 8 person/630kg lifts.
The apartments provide electric storage heating with BERs ranging from D1 to C2. Each apartment has an allocated car
parking space in the basement. See tenancy schedule.
• The Courtyard - 2 apartments comprising 1 X 3 Bed & 1 X 2 Bed apartments
• The House – 2 apartments comprising 2 X 2 bed apartments
• The Hall – 3 apartments comprising 3 X 2 bed apartments

Directions
Located in Ashbourne Town Centre adjacent to Killegland and Declan Street.
Agent Details
REA Grimes (Ashbourne) Grimes

Main Street, Ashbourne, Co. Meath

Tel: 01 835 0392

Mail: siobhan@reagrimes.ie

PSRA Licence No.  001417

negotiator Siobhan O'Sullivan
Siobhan O'Sullivan
01 8350392 siobhan@reagrimes.ie