Op­por­tu­nity in Swords & Kin­sealy at €6m

Irish Independent - Business Week - - COMMERCIAL PROPERTY -

and 25 sq m to 200 sq m for up­per-floor of­fice suites.

Dry­nam Square, which also forms part of the sale, com­prises a mixed-use block within the Dry­nam Hall hous­ing estate in Kin­sealy. The de­vel­op­ment con­sists of a crèche and two re­tail units at ground floor, with seven apart­ments at up­per floor lev­els, a med­i­cal suite and two ad­join­ing three and four bed­room houses. On-street park­ing is avail­able di­rectly out­side the block and the houses have a ded­i­cated car port each.

The re­tail units are pre­sented with va­cant pos­ses­sion and are fin­ished to shell-and-core con­di­tion ready for tenant fitout. The prop­erty was de­vel­oped circa 2005.

Com­ment­ing on the op­por­tu­nity Ap­ple­wood Vil­lage and Dry­nam Hall presents, sell­ing agent Ross Fog­a­rty says: “This is a well-di­ver­si­fied hold­ing with sub­stan­tial up­side for pur­chasers who have the re­sources and man­age­ment knowhow to drive ef­fi­cien­cies and rent. The collection is be­ing sold with a well-es­tab­lished in­come pro­file that has weath­ered pre­vi­ous chal­leng­ing times and is op­er­at­ing from a very sus­tain­able base with strong prospects for im­prove­ment through let­ting of va­cant units and room for mod­er­ate rental growth.

“Swords as a lo­ca­tion is well ear-marked for strong pop­u­la­tion growth which fur­ther un­pins the com­mer­cial vi­a­bil­ity of the of­fer­ing. At sub €100 per sq ft in­vestors are be­ing of­fered the op­por­tu­nity to pur­chase the in­come-pro­duc­ing as­set be­low pre­vail­ing con­struc­tion costs.”

Lo­cated in the thriv­ing north Dublin sub­urbs of Swords and Kin­sealy, Dry­nam Hall (above) and Ap­ple­wood Vil­lage (in­set right) of­fer an 11pc ini­tial yield

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