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Farnham Court comprises of two modern, residential apartment blocks situated on a sloped site extending to approx. 2.43 acres.

The two blocks are constructed to a very high standard with a mixture of one and two bed apartments ranging in size from 495 sq ft to 882 sq ft. All apartments benefit from a balcony and a designated surface car parking space with some additional visitor car parking.

Block A and block B contain 30 apartments each. Two units within block B are owner occupied and do not form part of this sale.

The gated development rises gently from Farnham Road amidst mature wood land, with the external area superbly landscaped.

Both blocks are identical in layout and benefit from a bright naturally lit centre stair well and 8-person passenger lift. The blocks further have a central underfloor heating system, to which each tenant contributes an additional €70 in heating cost per month.

Income Summary

Total Rental Income €467,100 p.a                                                                     (Total rental income includes rent from the vacant viewing unit)

Expenditure

• Service Charge                                         €91,046
• Insurance                                                  €7,183
• Local Property Tax                                   €4,841
• Management & Letting Fee                   €35,145
• Repairs & Maintenance (estimated)    €35,000

Total Expenditure                                         €173,215

(As percentage of rental income)                       37%

Net Operating Income                                  €293,885

Average Passing Rental Income

• 1-Bed Apartment - €600
• 2-Bed Apartment - €701.22

Estimated Market Rent

• 1-Bed Apartment - €600
• 2-Bed Apartment - €725

Farnham Court is located in Cavan town, the county town of Co Cavan.

Cavan town is situated approximately 115 km north west of Dublin City along the N3 national road. The town has an urban population of 10,914 people (census 2016) and a catchment population within a 15 km radius of approx. 30,000 people.

Cavan town offers all amenities including schools, shops, restaurants, a hospital, golf course and many more.

The main employers in the town are Kingspan Group, a number of major insurers and Abbot Laboratories.

Farnham Court is situated within 1km north west of the town centre and approx. 600m south of Cavan General Hospital.

The surrounding areas are predominantly residential.

The development is located in an area zoned 'Existing Residential' as per the Cavan Town Development Plan 2014 to 2020. This plan is now expired, and an updated version not yet been made available.

The total no of apartments contained within this sale is 58 units across two blocks as outlined below:

Block A - Entire Block - 30 units - 20,469 sq ft total

• 1-bed - 12 units - 5,940 sq ft total
• 2-bed - 18 units - 14,529 sq ft total

Block B - 28 units (out of 30) - 18,792 sq ft total

• 1-bed - 12 units - 5,940 sq ft total
• 2-bed - 16 units - 12,852 sq ft total

The two blocks combined comprise a total of 58 apartments with 24 x 1-bed and 34 x 2-bed units extending to a total floor area of 39,261 sq ft.

24.91 kgCO2/m2/yr - 36.71 kgCo2/m2/yr