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40 William Street, Limerick City, Co. Limerick, V94 FT80

  • Auction
  • Ireland
  • Multi-Family
  • Commercial

Sold for €1,100,000

Addendum

Please be advised the property is subject to a RAS tenancy of unlimited duration and all references to a 10 year lease must be disregarded. Furthermore, please be advised of the following amendments to the Contract for Sale a) Special Condition 16 b) inclusion of Document No. 25 to the Documents Schedule c) inclusion of Special Condition 14 e) inclusion of the Rent Payments, uploaded 20.09.2023. All interested parties must satisfy themselves by carrying out their own independent due diligence.

Property Summary

  • A prime Limerick City centre residential investment.
  • Comprising 6 x studio units, 1 x one bedroom unit and 1 x two bedroom unit.
  • €113,400 per annum total income. 
  • 10.3% Gross Yield (9.27 % NIY based on NOI). 
  • RAS Tenancy of Unlimited Duration. 
  • Total floor area extending to approximately 216 sq. m. 2,325 sq. ft. 
  • Fully refurbished to an excellent standard prior to lease commencement.

Contact Us

Richard Hoey
Richard Hoey
Property Agent, here to help.
Aaron Reddington
Vendor's Solicitor

Contact Us

Richard Hoey
Richard Hoey
Property Agent, here to help.
Aaron Reddington
Vendor's Solicitor

Downloads

Property description

The property is arranged over ground and three upper floors to provide a mid terrace residential building. Internally the property comprises 6 x studio units, 1 x one bedroom unit and 1 x two bedroom unit.

Total floor area extending to approximately 216 sq. m. 2,325 sq. ft. 

All intending purchasers are advised to satisfy themselves as to the accuracy of the measurements provided.

Additional Details

All units are occupied and let with the below general lease terms:

  • Tenant - Limerick City and County Council 
  • Rent - €113,400 Total Gross Rent 
  • Sinking fund and Repairs - €8,000
  • Insurance - €2,500 per annum
  • LPT - €824
  • Net Operating Income - €102,076 per annum

 

Unit number Floor Commencement date AccommodationSq. M. Sq. Ft Annual Rent 
OneGround 25/7/2023Studio34366€14,400
TwoGround 26/7/2023Studio32345€14,400
Three First 25/7/2023One Bedroom 36388

€15,600

FourFirst 25/7/2023Two Bedroom 42

452

€17,400
Five Second 26/7/2023Studio19 205 €14,400
Six Second 25/7/2023Studio16172€12,000
Seven Third 25/7/2023Studio21226€13,200
EightThird 26/7/2023Studio 15161€12,000
   Total2162,325€113,400 per annum

 

All intending purchasers are advised to satisfy themselves as to the accuracy of the measurements provided.

VAT

Please refer to Legal Documents

BER Rating

B2 - C3

BER Identification Number

Available From Bidx1

Energy Performance Indicator

112.9 kWh/m²/yr - 203.52 kWh/m²/yr

*Terms & Conditions

No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All interested parties must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.

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