Description
EVERSHAM LODGE, NEWTOWNPARK AVENUE, BLACKROCK, CO. DUBLIN
Unique Investment / Residential Opportunity on c0.2 Acres
Eversham Lodge represents a unique residential investment opportunity to acquire a substantial detached property on a site extending to approximately 0.81 hectares (2.0 acres) in a highly convenient South Dublin location.
Situated towards the top of Newtownpark Avenue, close to its junction with the N11, the property is within easy reach of Blackrock, Stillorgan and Foxrock and benefits from excellent access to Dublin City Centre, the M50 and the wider South Dublin area.
Current Accommodation – Five Apartments
The property comprises a substantial detached bungalow which is currently arranged as four self-contained apartments within the main building, together with a fifth apartment in a detached building to the side.
The existing accommodation extends to approximately 230 sq.m in total, arranged as follows:
Apartment Approx. Area
Apartment 1. 2 bed 55.9 sq.m
Apartment 2. 2 bed 46.8 sq.m
Apartment 3. 3 bed 78.8 sq.m
Apartment 4. 1 bed 18.3 sq.m
Apartment 5 – Detached 1 bed 30.2 sq.m
Investment Potential
We estimate that, when fully let, the five apartments should generate a combined rental income in the region of €120,000 plus bills per annum.
this represents a potential yield of approximately 8%
Eversham Lodge is presented in very good condition throughout and has been well maintained by the current owners. The existing apartments are bright, well-proportioned and ready for immediate occupation.
Excellent Potential for Alternative Residential Use
Importantly, Eversham Lodge also offers considerable flexibility for a purchaser who does not wish to retain the existing apartment configuration.
The main building could potentially be converted back relatively easily to provide a substantial family residence. Architectural plans have also been prepared showing an alternative layout comprising:
• Five-bedroom main residence – approximately 148.3 sq.m
• Separate two-bedroom apartment – approximately 46.8 sq.m
• Detached apartment / guest accommodation – approximately 30.2 sq.m
This alternative arrangement may particularly appeal to purchasers seeking a large family home with independent accommodation for potential extended family, guests or rental purposes. 5 bed houses and 2 bed apartment (€16,000 potential rental income is tax free).
The existing elevations retain the character and appearance of a substantial detached residence.
Key Features
• Currently arranged as five apartments
• Estimated combined rental potential of c.€120,000 per annum
• Approximately 230 sq.m of existing accommodation
• Potential gross yield of c.8%
• Excellent condition
• Highly sought-after South Dublin location
• Potential to reinstate as a substantial family home
• Potential plans for a 148.3 sq.m five-bedroom residence
• Separate 46.8 sq.m two-bedroom apartment with additional detached 30.2 sq.m apartment / guest accommodation
• Close to the N11, Blackrock, Stillorgan and Foxrock
• Cash purchasers only
Planning Status
Prospective purchasers should note that the property does not have planning permission for its present conversion into five apartments.
We understand that, having regard to the length of time the property has been in its present configuration, the existing use is considered to be outside the relevant period for planning enforcement.
However, no representation or warranty is provided in relation to the planning status or immunity from enforcement, and intending purchasers must satisfy themselves fully in this regard through their own solicitor and planning adviser prior to purchase.
Accordingly, the property is being offered on the basis of a cash purchase, and purchasers should not assume that conventional mortgage finance will be available.
Viewing strictly by appointment through Vincent Finnegan Commercial. BER Details
