THE MALTINGS - s3-eu-west-1.amazonaws.coms3-eu-west-1.amazonaws.com › mediamaster-s3eu › 7 › 4 › 74b13720… · • Asset management potential through letting vacant units

47 APARTMENTS IN A SINGLE BLOCK

F O R S A L E I N O N E L O T

THE MALTINGS WAT L I N G S T R E E T

D U B L I N 8

INVESTMENT SUMMARY• Multi-family investment opportunity

• For sale in a single lot

• 47 city centre apartments including 18 one-bedroom apartments, 26 two-bedroom apartments and 3 three-bedroom apartments

• 45 car parking spaces

• City Centre development in close proximity to The Digital Hub, the Guinness Storehouse and St. James’s Hospital

• Excellent transport links with the Luas red line, Heuston Station, Aircoach and Dublin Bus routes all in close proximity

• Gross passing income of approximately €492,492 per annum

• Asset management potential through letting vacant units and increasing current rents to market levels

• Long Leasehold

• Tenants not affected


D U B L I N 8

FOR INDICATIVE PURPOSES ONLY

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ST

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MONTP ELIER HILL

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BLACKHALL PL

ARKLOW ST COW

PER ST

ROSS ST

ASHFORD ST

FINN ST

MOIRA RD

O’DEVANEY GDNS

SIGURD RE

HALLIADAY RD

IVAR ST

BENBURB ST

HAROLD RD

BEN EDAIR RD

LIFFEY ST LO

WER POOLBEG ST

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ST GLOUCESTER ST SOUTH

MO

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MIDDLE ABBEY ST

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PETER STSHIP ST GREAT

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WELLINGTON QUAY

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THOMAS STREETJAMES STREET

JAMES STREET

HOGAN PLACE

MOUNT ST LOWER

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BAGGOT STREET LOW

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TOWNSEND ST

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NELL STREET U

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NO

RTH FREDERICK

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WIL

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SAINT JOHN'S ROAD WEST

BRID

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CONYNGHAM ROAD

DOLPHIN ROAD

HER

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OLD KILMAINHAM

SOU

TH

SOUTH CIRCULAR ROAD

INFIRM

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NORTH CIR

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KILMAINH AM LANE

MIL

ITA

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ST STEPHEN’S GREEN

LUASSTOP

LUASSTOP

LUASSTOP

LUASSTOP

LUASSTOP

LUASSTOP

LUASSTOP

LUASSTOP

JERVISSHOPPING

CENTRE

GUINNESS STOREHOUSE

ILACSHOPPING

CENTRELUAS Red Line

LUAS Cross City

TRINITY COLLEGE

ST JAMES'S GATE

BREWERY

FOURCOURTS

CONNOLLYSTATION

HEUSTONSTATION LOCATION

The Maltings is situated in a prominent city centre location fronting onto Watling Street, just off the South Quays. Located within walking distance of all amenities, the area also benefits from excellent public transport facilities with the Luas red line, Heuston Station and Dublin Bus routes all in close proximity.

The apartment block is located in close proximity to the Digital Hub campus, which is home to over 100 technology and digital media companies, the National College of Art and Design, which caters for around 1,500 students, and St. James’s Hospital, which currently has 4,000 staff and is due to increase following construction of the National Children’s Hospital and due for completion by 2020.

The historical area boasts renowned tourist attractions St. James’s Gate Brewery and The Guinness Storehouse which attract approximately 1.2 million visitors per year.

The surrounding area is home to numerous residential, retail and office occupiers. The Four Courts, which is home to Ireland’s largest courts building is located approximately 700m from the subject property, while the popular Temple Bar is approximately 1.2km away.


D U B L I N 8

The historical area boasts renowned tourist attractions

St. James’s Gate Brewery and The Guinness Storehouse


N

1BEDROOM

2BEDROOM

2BEDROOM

2BEDROOM

2BEDROOM

2BEDROOM

2BEDROOM

1BEDROOM

1BEDROOM

1BEDROOM

1BEDROOM

DESCRIPTIONThe Maltings is a modern five-storey over basement development of 249 apartments, of which 47 are located in a single block known as The New Maltings.

The New Maltings is being offered for sale by private treaty in one lot comprising 47 residential units laid out over 5 floors designed around a central landscaped courtyard. The 47 apartments include 18 one-bedroom units, 26 two-bedroom units and 3 three-bedroom units. The apartments are spacious in size with 1, 2 & 3 bedroom apartments of up to approximately 45 sq. m. (484 sq. ft.), 72 sq. m. (775 sq. ft.) and 84 sq. m. (904 sq. ft.) respectively and are fully finished, including fully tiled bathrooms, integrated kitchens and carpeted floors.

Some of the apartments benefit from balconies, with the top floor apartments availing of roof terraces.

The property also has the benefit of 45 secure basement car parking spaces

Floors 1-3

INDICATIVE FLOOR PLAN


D U B L I N 8

The Maltings is a modern five-storEy development of 249 apartments

The Maltings apartments are fully fitted and let under standard residential tenancy agreements typically short term for a fixed 12 month period. The residential investment is currently producing a gross income of €492,492 per annum, with 7 units held vacant.

The vacant units and low passing rents provide the purchaser with an opportunity to increase annual rent to market level by active and strategic asset management.

For the avoidance of doubt please note that this is an investment sale and the tenants are unaffected.

Average Passing Rent Schedule

1 Bed 2 Bed 3 Bed

Average Rent (per month) €878 €1,078 €1,350

The residential investment is currently producing a gross income of €492,492 per annum

RESIDENTIAL TENANCY INFORMATION

SCHEDULE OF ACCOMMODATION

Apartment No. Floor Approx. Area Sq. M.

Approx. Area Sq. Ft. Description Rent Per

Calendar Month Annual Rent

204 Ground 54.00 581 2 bedroom with private entrance €1,050 €12,600



207 Ground 38.00 409 1 bedroom with private entrance Vacant Vacant


209 Ground 55.80 601 2 bedroom with private entrance €950 €11,400

210 Ground 37.50 404 1 bedroom with terrace entrance €850 €10,200

211 Ground 40.00 431 1 bedroom with terrace entrance €750 €9,000

212 Ground 58.25 627 2 bedroom with private entrance €994 €11,928

214 First 45.00 484 1 bedroom €900 €10,800

215 First 38.00 409 1 bedroom €1,000 €12,000

216 First 58.50 630 2 bedroom Vacant Vacant

217 First 58.50 630 2 bedroom €1,050 €12,600

218 First 38.00 409 1 bedroom €900 €10,800

219 First 64.00 689 2 bedroom with balcony €1,045 €12,540


221 First 37.50 404 1 bedroom with balcony €837 €10,044

222 First 41.00 441 1 bedroom with balcony Vacant Vacant



225 Second 45.00 484 1 bedroom €800 €9,600

226 Second 38.00 409 1 bedroom €940 €11,280

227 Second 58.50 630 2 bedroom €1,100 €13,200

228 Second 58.50 630 2 bedroom €1,000 €12,000


D U B L I N 8

SCHEDULE OF ACCOMMODATION

Apartment No. Floor Approx. Area Sq. M.

Approx. Area Sq. Ft. Description Rent Per

Calendar Month Annual Rent

229 Second 38.00 409 1 bedroom €850 €10,200

230 Second 64.00 689 2 bedroom with balcony €1,100 €13,200


232 Second 37.50 404 1 bedroom with balcony €900 €10,800

233 Second 41.00 441 1 bedroom with balcony €945 €10,200


235 Second 59.00 635 2 bedroom with balcony Vacant Vacant

236 Third 45.00 484 1 bedroom €900 €10,800

237 Third 38.00 409 1 bedroom €837 €10,044

238 Third 58.50 630 2 bedroom €1,100 €13,200

239 Third 58.50 630 2 bedroom Vacant Vacant

240 Third 38.00 409 1 bedroom Vacant Vacant

241 Third 64.00 689 2 bedroom with balcony €1,050 €12,600

242 Third 55.00 592 2 bedroom with balcony Vacant Vacant

243 Third 37.50 404 1 bedroom with balcony €850 €10,200




247 Fourth 83.00 893 3 bedroom with terrace €1,250 €15,000


249 Fourth 84.00 904 3 bedroom with en-suite and terrace €1,200 €14,400


251 Third 59.00 635 2 bedroom with terrace €1,050 €12,600

Total €41,041 €492,492


D U B L I N 8


D U B L I N 8

conTACT AND FURTHER INFORMATIONTITLEWe understand that the property is held under long leasehold.

VIEWINGSViewings are strictly by appointment through sole selling agents Knight Frank.

GUIDE PRICEExcess €6,000,000 exclusive of VAT.

For the avoidance of doubt there will be an additional 13.5% VAT chargeable on the agreed price.

BER RATINGD1 – G

WEBSITEthemaltingsdublin8.com

SELLING AGENTS

Knight Frank20/21 Upper Pembroke StreetDublin 2T: 01 634 2466

Contact:Ross [email protected]

Shaun [email protected]

SOLICITORSHayes SolicitorsLavery HouseEarlsfort TerraceDublin 2

These particulars are issued by HT Meagher O’Reilly trading as Knight Frank on the understanding that all the negotiations are conducted through them. These particulars do not constitute, nor constitute any part of an offer or contract. All statements, descriptions, dimensions, references to condition, permissions or licenses of use or occupation, access and other details are for guidance only and are made without responsibility on the part of HT Meagher O’Reilly trading as Knight Frank or the vendor/landlord. None of the statements contained in these particulars, as to the property are to be relied upon as statements or representations of fact and any intending purchaser/tenant should satisfy themselves (at their own expense) as to the correctness of the information given. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchaser/tenant shall be liable for any VAT arising on the transaction. The vendor/landlord do not make or give, and neither HT Meagher O’Reilly trading as Knight Frank or any of their employees has any authority to make or give any representation or warranty whatsoever in respect of this property. Knight Frank is a registered business name of HT Meagher O’Reilly Unlimited. Company licence Reg. No. 385044. PSR Reg. No. 001266

September 2017. Designed and produced by Creativeworld. Tel +44 (0) 1282 858200.

Documents

THE MALTINGS - s3-eu-west-1.amazonaws.coms3-eu-west-1.amazonaws.com › mediamaster-s3eu › 7 › 4 › 74b13720… · • Asset management potential through letting vacant units