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  7. Smithfield Lofts, North King Street, Smithfield, Dublin 7

POA

Refreshed on:31/08/2017

Smithfield Lofts, North King Street, Smithfield, Dublin 7

Investment Property


Description

Well located multi-family block close to Dublin city centre with excellent value-add opportunities.
Comprises a 5 story over basement building with 57 apartments, 6 two storey town houses and commercial units.
44 apartments, 6 townhouses and 33 car spaces form part of this sale.

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Well located multi-family block close to Dublin city centre with excellent value-add opportunities.
Built in 2000, Smithfield Lofts comprise a 5 story over basement building with 57 apartments, 6 two storey townhouses in addition to commercial units.
44 apartments, 6 townhouses and 33 car spaces form part of this sale, with the other 13 apartments and commercial units in private ownership.
There are 16 one-bedroom apartments ranging from 40-59 sq. m.; 28 two-bedroom apartments ranging from 54-75 sq. m. and 6 two-bedroom townhouses ranging from 65-82 sq. m. The units are located in an L-shaped block around a central courtyard and have lift services to all floors. The 33 car parking spaces are located in a secure underground gated carpark.
There is an attractive average breakup value of €185,000 per apartment.
The scheme is currently 96% occupied with gross rental income approximately €629,064 per annum. Rents currently range for one-bedroom apartments from €835 to €1,300 per month, two-bedroom apartments range from €860 to €1,500 per month and two-bedroom townhouses range from €960 to €1,600 per month. The average rent across the scheme is €1,086 per month and if let at current market rents, the average rent could increase to €1,710 per month.
Smithfield Lofts is in the immediate vicinity of Smithfield Square which offers residential amenities such as restaurants, convenience retail ...

Savills Commercial Investments

33 Molesworth Street Dublin 2

Tel: +353 (0) 1 618 1300





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