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IrelandDublinDublin CountySwordsApplewood, Co. Dublin SWORDS, Swords, Co. Dublin

€7,500,000

Applewood, Co. Dublin SWORDS, Swords, Co. Dublin

Refreshed on Sep 11, 2019
Hooke & MacDonald (Commercial)
Hooke & MacDonald (Commercial)
Tel: 01 631 8403
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Description

Multi-Family InvestmentLOCATION: Applewood is located approximately 1.8 km northwest of Swords Town Centre and Pavilions Shopping Centre. Airside Retail Park is located approximately 2.8 km to the southeast, while Malahide Village is approximately 5.5 km away. The property is superbly situated within approximately 2 km of the M1 Motorway, which connects Dublin to Belfast. Dublin Airport is situated approximately 4.5 km to the south, while Dublin City Centre is approximately 13 km to the south and easily accessible by a variety of Dublin Bus services. There are DART and Mainline Train Services at Malahide. The proposed Metro Link will further enhance the development with Estuary Metro Stop being situated 1.35 km to the east. DESCRIPTION: The sale comprises 47 apartments and a retail unit, incorporating 6 no. one-bedroom apartments (approx. 49-53 sq.m) and 41 no. two-bedroom apartments (approx. 61-146 sq.m). The apartments are finished to a good standard, each with a good sized balcony / terrace and one car parking space each, along with visitor car parking. INVESTMENT: Forty-five of the apartments are let on standard residential tenancies and are producing a current gross rental income of approximately €671,000 per annum. These rents are averaging approximately €1,120 per month for the one-bedroom apartments and €1,264 per month for the two-bedroom apartments. Three apartments, which are currently vacant for viewing purposes, have a capped rent of approximately €45,000 per annum. The retail unit is let on a 10 year lease from April 2014 at a current rent of €8,000 + VAT per annum. A rent review is outstanding. Given its proximity to Swords Town Centre, Pavilions Shopping Centre, Dublin Airport, M1 Motorway and the City Centre, this is a strong letting location and there is significant potential for income growth.

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