Prime Multi Family Investment
For Sale by Private TreatyTenants not Affected
Excellent opportunity to acquire a modern residential development in the heart of Limerick City Centre.The property comprises of the residential element of a mixed use development known as The Carlton.Total of 67 Units in one block â€“ 31 Two Bed Apartments & 36 One Bed ApartmentsApartments range in size from 48.2 sq m â€“ 69.7 sq m and are all finished to a high specification throughout.Currently producing €586,800 per annum. 100% occupiedLimerick City has seen large y-oy residential rent increases.Availability of rental accommodation within Munster is at its lowest since 2006 ( Source Daft.ie)Potential to reposition through active asset management and increase income.Considering the very limited supply, both rents and capital values are forecast to continue to strengthen throughout 2016.Offers sought in excess of €9.5 millionTenants not affected
Over 14,000 working in over 100 overseas companiesLimerick has the highest disposable income outside the greater Dublin region â€“ Midwest GVA is the 3rd Highest across the Irish RegionsHalf a million people within 60 minute drive with almost 50% of the population under 35 years Major Higher Education Institutions with 21,000 students / 6,000 graduates annually
The Carlton is an impressive mixed use development situated on Henry Street with access to the residential block via a private access off Cecil Street. Henry Street is an established City Centre business area in Limerick and is within walking distance of the retail heart of Limerick including Cruises Street and Oâ€™Connell Street. It is situated adjacent to a number of other multi storey office blocks in a well-established office location with additional occupiers in the surrounding area including AIB, Grant Thornton, Glass Lewis, Ulster Bank, Howleyâ€™s Quay Car Park, and Dunnes Stores.
Limerick City is the third largest city in Ireland and identified as a gateway city in the National Spatial Strategy for the mid-west region. This region encompasses County Limerick, County Clare, north County Tipperary and northwe ...