- Excellent Location.
- Within close proximity to Limerick Institute of Technology.
- Planned Expansion of LIT to a new campus at Coonagh
- On the road network to Shannon.
- Close to Limerick's Southern Ring Road and all major road networks including the M18 and M7.
- Primary, Secondary Schools and Creches all within close proximity.
- Within walking distance of Jetland Shopping Centre.
REA O'Connor Murphy are delighted to offer to the market this unique investment opportunity to acquire 8 x 2-bedroom apartments being sold in One Lot. Situated in one of Limerick's most sought-after locations and developments. The units are spread out over the ground and first floor and are situated in different locations within the Knocklyon development. There is a current passing rental income of €76,800 per annum with an estimated rental income of €96,000 per annum. The guide price is €1,100,000.
Estimated Rental Income of the Portfolio: €96,000 per annum
Assumed Guide Price: €1,100,000
Gross Initial Yield: 6.98%
Gross Reversionary: 8.72%
Management Fee's - €1,400 per annum (Block J) and €1,300 per annum (Block F)
Management Company: PMI for Block J(Property Management Ireland) and KMPM for Block F(Kersten Mehl)
Best Bids Format: All information uploaded to dataroom for inspection. Please contact REA O'Connor Murphy for access (unless previously sold).
Expressions of Interest submitted in writing to REA O'Connor Murphy by 12 noon 14th March 2019
Best & Final Bids submitted by contract to REA O'Connor Murphy by 12 noon 21st March 2019.
BER: B3 - D1
The subject units comprise 8 x 2-bedroom apartments situated in different blocks within the development. Internally the apartments comprise Kitchen/Dining/Living, 2 bedrooms (Master En-suite) and main bathroom. Each apartment comprises similar kitchens, bathrooms and flooring and vary in sizes from approx. 75 Sq.M – 79 Sq.M.
From Limerick City take the R527 Condell Road, at the Clonmacken roundabout take the 4th exit onto Clonmacken Road L8570. The Knocklyon development is the first right after this exit. The subject properties are situated to the rear of the development.