Opportunity in Swords & Kinsealy at €6m
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