DescriptionSALE AGREED - Fordmount Developments Limited (In Receivership)
Freehold Investment in 119 retirement properties producing an annual rental income of c€1.25 million per annum of which c.€690k equates to net operating income at The Park Retirement Village, Castletroy, Co Limerick.
FeaturesFreehold investment of 119 units (tenants unaffected)
Mix of 1 & 2-bedroom apartments and 30 no. 2-bedroom houses
Overall development consists of 138 units
Site area 2.2 ha (5.44 acres)
Rental income FY2018* (119 units) c.€1.25 million
Net Operating Income FY2018* (119 units) c.€0.69 million
Disposal by way of asset sale (apartments and houses) plus share purchase (100% share capital in operating company)
BER DetailsBER: C2 BER No.107438913 Energy Performance Indicator:179.71 kWh/m²/yr
DirectionsProperty occupies a high profile position off the Dublin Road, located opposite University of Limerick and adjacent to Castletroy Park Hotel.
All amenities nearby including public transport.
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