PRS Investment Opportunity, Lancaster Gate, Western Road, Cork City, Co. Cork

Sale Agreed

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Description

- 10 x No.2 Bedroom Apartments for Sale in a Single Lot. - Vacant Possession. - Gross yield 5.65% - Estimated Open Market Rental Value: 237,600 per annum - Apartments furnished and available for immediate occupation. - Convenient Location Close to Cork City Centre, UCC, Mercy & Bon Secours Hospitals, The Mardyke Entertainment Complex and Cork School of Music. - Long Leasehold Title. - BER range B1, B2, B3. - One parking space included per unit (10 total) - All units refurbished in 2021. - Significant asset management opportunities Property Lancaster Gate is a modern, purpose-built apartment development, which was designed by Henry J Lyons Architects and constructed in 2007. The development, comprising 151 apartments, is laid out in three separate blocks: The Fastnet, The Sherkin and The Garnish. This sale comprises 10 apartments, all of which are two-bedroom units varying in size (66 - 94.7 sq.m.). One designated car parking space per apartment within a secure basement car park. The apartments are finished to a high standard with fitted kitchens, open-plan living room/ kitchen areas, balconies/terraces and gas central heating. The Location This development occupies a prominent position overlooking the River Lee, just off Western Road. Strategic location in proximity to Cork City centre and University College Cork a core area for both investors and tenants. Lancaster Gate is ideally located beside the River Lee Hotel with facilities including a leisure centre, meeting rooms, bar and restaurant. Occupiers can enjoy a central and convenient location within just 850m (c.11 minutes walk) of UCC and 900m (c.12 minutes walk) of Opera Lane, St Patrick's Street and all of the amenities of the city centre including Fitzgerald's Park outdoor recreation area. The area is well served by numerous bus routes to and from the city centre and suburbs. Bike Share Service and taxi ranks are within short walking distance also. Sale by Private Treaty (Best Bids Format) Best bids must be submitted in writing to michael@oconnormurphy.ie by 12pm November 19th 2021.

Features

  • Ideal investment opportunity
  • Investment opportunity
  • Secure car parking
  • Well Maintained Secure Development
  • Refurbished and upgraded to a very high standard
  • Located in the City Centre
  • Investment

Accommodation

Note: Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

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