On the instructions of the receiver Jim Hamilton, BDO, DNG Advisory are guiding €11.75 Million for the residential investment Bessboro, Terenure Road West, Dublin 6 which was developed c. 2008.
This investment is ‘For Sale by best bids’, no later than Friday 25th September at 2pm. This is the most significant multi-family residential investment to come to the market in 2015.
40 apartments are being brought to the market today in one of Dublin’s most sought after residential locations. The investment opportunity has a 100% per cent occupancy rate. The investment is producing an annual rental income of c. €635,000 which could be increased over time to c. €750.000 per annum. The location of the investment in such a prime residential rental location means that the rent could be substantially increased through active management of the asset. The current shortage of rental accommodation in South Dublin should ensure strong interest in the investment.
The 40 apartments are split into two blocks - Block A, is a purpose-built block, while Block B incorporates a conversion and extension of the former period property at the centre of the development. The development also includes 64 basement parking spaces which is accessed via secure electric gates. The new owner will have total control of all residential units at Bessboro.
The development comprises six large one bedroom apartments (average size 55.3 sq.m), thirty two large two bedroom apartments (average size 74.6 sq.m) and two very large (average size 110 sq.m) three bedroom apartments. The one-bedroom apartments currently rent at an average of €1,035 per month while the two-beds are currently at an average rent of around €1,350 per month. The two very large three-bedroom apartments which are rented at an average of €1,700 per month.
The suburb of Terenure is an established, mainly residential area in South Dublin. The investment is just a short walk from Terenure Village and c. 6km from Dublin City Centre. Terenure Village has all amenities, which include many local businesses, shops, restaurants and cafes. The area is well serviced by public transport, to and from Dublin City Centre via Dublin Bus. The area has many schools, both primary and secondary.
Some features within these superbly built apartments Include;
• Fitted high gloss kitchens with white stone worktops
• Gas fired central heating system
• Stainless Steel Appliances fitted to all kitchen
• Floor to ceiling height c. 8.5ft
• Fully tiled Bathrooms & ensuite
• Pressurised water system
• High electrical specification throughout which includes a fitted ‘In Home’ Audio System
• All apartments are fully furnished.
BER No. 106043136
Energy Performance Indicator: XXX kWh/m²/yr
Apartment Type Number of Units Average Size (Sq.m) Average Size (Sq.ft)
1 Bed 6 52.3 563
2 Bed 32 74.6 803
3 Bed 2 110 1184
Block A (Purpose built apartment block) 21 Apartment Units
Block B (Converted/extended development) 19 Apartment Units
Bessboro is superbly positioned fronting onto Terenure Road West, close Terenure Village. From St Stephens Green follow the R114 through the villages of Rathmines and Rathgar and approach the cross roads at Terenure Village. Continue straight through the crossroads at the main intersection approaching Bill Sheehan Motors. Turn right onto Terenure Road West and continue for approx 500 metres. Bessboro is located on your right hand side. From M50 exit at the Templeogue turnoff and proceed down the R137 past the Spawell Hotel for approx 4.2km. Turn left onto Terenure Road West at Bill Sheehan Motors and proceed 500 metres - Bessboro is on the right hand side of the road.
By appointment only with DNG Advisory
Gareth Noone or Alan Denihan 01 491 2600