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7 Apartments & 7 Carpark Spaces, Park House, Benson Street, Dublin 2, D02 W663

Ireland
Multi-Family
Commercial

Asking price €3,750,000

Property Summary

  • Multi Family Investment comprising of 7 x two bedroom apartments
  • Including 7 designated basement car parking space
  • Apartments 1, 3, 5, 7, 9, 17 & 20
  • 15 year lease from 2017 to City Break Apartments Ltd
  • Passing rent of €200,000 per annum with CPI linked rent reviews every 5 years
  • NIY of 5.1%
  • Central location within Grand Canal Dock
     

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

The property for sale includes 7 x two bed apartments in Park House on Benson Street.

Park House is a multi family development in Dublin's Grand Canal area directly adjacent to the Chocolate Park which is currently under construction to provide a new facility for the neighbourhood.

The units are arranged to provide an entrance hall, an open plan kitchen/living/dining room, two bedrooms (master en-suite) and a bathroom.

The apartments are laid out over ground, first, second, fourth and fifth floors.
Each benefits from one underground parking space.

Location

The residential units are all within Park House, located on Benson Street in Dublin's Grand Canal Dock.

Grand Canal Dock is a vibrant area located to the south of the Quays to the east of Dublin City Centre. The subject properties are located on Benson Street, which is situated between Sir John Rogerson’s Quay and Hanover Quay.

Surrounding occupiers include a number of large multi nationals including Facebook, Google, Linkedin, Accenture, Matheson and McCann Fitzgerald.

Additional amenities within close proximity of the property are the Bord Gáis Energy Theatre, the
Marker Hotel, the Convention centre, alongside a range of cafés and restaurants.

Tenancy

  • Tenant – City Break Apartments Ltd
  • Lease commencement – 1st July 2017
  • Term – 15 years
  • Rent reviews – at the end of years 5 & 10 linked to the performance of the CPI
  • Rent – €200,000 paid monthly in advance
  • Tenant responsible to repair, maintain, replace and reinstate the property, furniture and equipment
  • Tenant responsible for service charge, insurance, electricity and gas

The units are laid out as follows:

Unit NoNo of BedsFloorSq Ft
12Ground743
32First883
52First657
72Second861
92Second657
172Fourth657
202Fifth592
7 Units  5,048

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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.