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26 Units at Tir Na gCapall, Old Monivea Rd, Ballybrit, Co. Galway, H91 KX62

Ireland
Apartment
Commercial

Asking price €5,600,000

Property Summary

  • Modern, well maintained multi-family investment opportunity
  • 26 apartments within a three block, 43 unit development in Galway
  • Generating rental income of €410,100 p.a. (on full occupancy)
  • Gross Initial Yield 7.3%
  • 100% occupied - (one apartment kept vacant for sales process)
  • Ample surface parking for residents is available on the grounds 
  • Tenants not affected

Contact Us

Johnny O'Connor
Johnny O'Connor
Property Agent, here to help.
Nana Collins
Nana Collins
Property Agent, here to help.

Contact Us

Johnny O'Connor
Johnny O'Connor
Property Agent, here to help.
Nana Collins
Nana Collins
Property Agent, here to help.

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Property description

Tir Na gCapall comprises of three modern residential apartment blocks situated on generous grounds.

The investment opportunity for sale includes 26 apartments within this development, comprising the entire of Block C, with 18 apartments plus 8 apartments of Block B.

All 26 units have 3 en suite bedrooms and a balcony / patio area off the kitchen. The units extend to 56 sq m (603 sq ft) each. 

The property further benefits from high speed broad band throughout.

Location

Tir Na gCapall is located approximatley 5km north east of Galway City Centre in Ballybrit, just opposite Briarhill Shopping Centre, adjacent to the east is the Clayton Hotel and backing on to the galway race course. 

The development is accessed from Monivea Road with easy connection to the N6 connecting Galway to Athlone and further to Dublin.

The area offers a variety of amenities including Briarhill Shopping Centre, Lidl within waling distance and excellent public transport links to Galway City.

Zoning

The development is located in an area zoned R1 - New/proposed residential defined as 'To protect residential amenities and to provide for limited associated uses' with the Galway City Development Plan 2017 - 2023.

Accommodation

The total number of apartments included within this sale is 26 units acress two blocks as outlined below:

Block B - 8 units (out of a total of 17 units within the Block)

  • 3-bed, all en suite - 8 units - 4,822 sq ft total

Block C - entire Block

  • 3-bed, all en suite - 18 units - 10,850 sq ft total

The entire combined comprises a total of 26 apartments extending to a total floor area of 15,672 sq ft.

 

Tenancy

BlockUnit NoTypeArea sq ftRent p/mAnnual Rent
Block B93 bed           603 €        1,350 €            16,200
 103 bed           603 €        1,350 €            16,200
 113 bed           603 €        1,350 €            16,200
 123 bed           603 €        1,350 €            16,200
 133 bed           603 €        1,425 €            17,100
 143 bed           603 €        1,350 €            16,200
 153 bed           603 €        1,250 €            15,000
 163 bed           603 €        1,250 €            15,000
Block C263 bed           603 €        1,250 €            15,000
 273 bed           603 €        1,250 €            15,000
 283 bed           603 €        1,350 €            16,200
 293 bed           603 €        1,250 €            15,000
 303 bed           603 €        1,350 €            16,200
 313 bed           603 €        1,350 €            16,200
 323 bed           603 €        1,350 €            16,200
 333 bed           603 €        1,250 €            15,000
 343 bed           603 €        1,350 €            16,200
 353 bed           603 €        1,250 €            15,000
 363 bed           603 €        1,250 €            15,000
 373 bed           603 €        1,350 €            16,200
 383 bed           603 €        1,350 €            16,200
 393 bed           603 €        1,250 €            15,000
 403 bed           603 Vacant  Vacant 
 413 bed           603 €        1,250 €            15,000
 423 bed           603 €        1,350 €            16,200
 433 bed           603 €        1,350 €            16,200
Total26 Units          15,672 €      32,825 €         393,900

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*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.