The prospect of immediate income and a 6.5 per cent net initial yield should help to draw investors to the sale of a portfolio of 16 residential units in Limerick city.
Located at Heridan Crescent in the suburb of Dooradoyle, the investment, is fully let and generating total rental income of €252,300 per annum. The portfolio is being offered to the market by O’Connor Murphy with Property Partners at a guide price of €3.75 million.
Developed in 2008, the entire development comprises eight two-bedroom apartments (65-67sq m) and eight three-bedroom (106-132sq m) duplexes situated within two blocks. All units are fully furnished and come with 19 surface car parking spaces on site. Monthly rents for the portfolio range from €1,050 to €1,800, with an average of €1,314.
Heridan Crescent is located 4.3km from Raheen Business Park where the occupiers include Regeneron, Stryker, Analog Devices and Rahi Technologies, and 4.4 km from Limerick city centre.
The sale will be conducted using a best-bids process. Bids must be submitted in writing to Michael O’Connor or Geoff de Courcy by 12 noon on March 10th.
Further details are available by ringing 061-411022 or by emailing stjohn.dundon@dundoncallanan.ie
