the fuel yard yard · glasnevin finglas village botanic gardens tolka valley park dublin city...
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CHURCH ROAD, FINGLAS, CO DUBLIN
FOR SALE BY PRIVATE TREATY MULTI-FAMILY INVESTMENT OPPORTUNITY
FuelYard
THE FUEL YARD
THE
FINGLAS VILLAGE
INVESTMENT CONSIDERATIONS• 5-storey multi-family investment opportunity with further
development potential (SPP)
• StrategicallylocatedjustofftheN2andapproximately5km’snorth-west of Dublin city centre
• 18 modern apartments comprising 7 one-bedroom apartments, 10 two-bedroom apartments, and 1 three-bedroom apartment
• Opportunitytoconvertofficespaceto2apartmentsanddevelop a further 7 apartments (SPP)
• Currently producing a revisionary rental income of approximately€262,000perannum
LOCATIONThe property is located in Finglas Village at the junction of the Finglas road and Church Road.
Finglasisaresidentialsuburblocatedapprox.5km’snorth-west of Dublin city centre. The area has a wide variety of local amenities including Clearwater and CharlestownShoppingCentres,Ikea,DCU,TolkaValleyParkandBotanicGardens.
ThepropertybenefitsfromexcellenttransportlinksandisaccessedbycarviaChurchRoadwithpedestrian access from the Finglas Road.
DUBLIN CITY CENTRE
M50
M50
J5
LUAS
DCU
DRUMCONDRA
EAST WALL
CLONTARF
MARINO
BEAUMONT
WHITEHALL
ASHTOWN
GLASNEVIN
FINGLAS VILLAGE
BOTANIC GARDENS
PHOENIX PARK
TOLKA VALLEY PARK
DUBLIN CITY CENTRE
IKEA
N2
QBC
N1
N1
R108
R108
R104
R103
R147
R805
R105
CLEARWATER S.C.
€
5km’s
GROSSRENTALINCOMEOFAPPROXIMATELY
€262,000 PERANNUM
FROMDUBLINCITYCENTRE
FuelYard
THE FUEL YARD
THE
FuelYard
THE FUEL YARD
THE
ASSET OVERVIEW Thedevelopmentcomprisesamixof1,2and3bedapartmentsranginginaveragesizefrom47.3sq.mforaone-bed,57.4sq.mforatwo-bedand85sq.mforathreebed.
Alltheapartmentsaredualaspectandbenefitfrombalconieswhichoverlookanattractivepodiumlevelgarden.
Theblockalsobenefitsfromtwooperatingliftsandtwostairwellsprovidingaccesstotheupperfloors.
DEVELOPMENT POTENTIAL (S.P.P)• Extensiontothenorthproviding
7 apartments
• Conversionofgroundfloorstoreandconvertofficespacetoresidential,providing2additionalapartments
• Potentialadditionalfloorbasedon new height guidelines providing 7 additional apartments
TENANCYThe 18 apartments are fully occupied and let under standard residential tenancies.
Rentallevelscurrentlyaverageapproximately€1,119permonthforaone-bedroomapartmentand€1,299permonthforatwo-bedroomapartmentand€1350forathree-bedroomapartment. The total gross rental income is currentlyapproximately€262,000perannum.
PRICING Guidinginexcessof€4,250,000(SubjecttoContract)
VIEWINGS Viewings are strictly to be arranged through the selling agents.
TITLE Freehold
BER RATING
PROJECT DATASITE LinkTBC
CAR PARK
STORAGEWORKSHOP/ STORAGESTORAGEBIN STORE
CAFE UNIT
ESB
PLANTROOM
FLOOR PLANS DESIGN PROPOSALS
GROUND FLOOR
FIRST FLOOR
SECOND FLOOR
FOURTH FLOOR
THIRD FLOOR
BEDROOM
BEDROOM
BEDROOM
WC
WC WC
WC
STSTSTORESTORESTORE
WC
BEDROOM BEDROOM
BEDROOM
BEDROOM BEDROOMBEDROOM BEDROOM
BEDROOM BEDROOM BEDROOM BEDROOM
BEDROOM
BEDROOM
BEDROOM
STORE
STOREST
WC
WC WC
WC
WC
ST
STORE
KITCHEN/LIVINGAPT 1
KITCHEN/LIVINGAPT 2
KITCHEN/LIVINGAPT 6
KITCHEN/LIVINGAPT 7
KITCHEN/LIVINGAPT 8 KITCHEN/LIVING
APT 9
KITCHEN/LIVINGAPT 10
APT 5APT 3APT 2
KITCHEN/LIVINGAPT 3
KITCHEN/LIVINGAPT 4
KITCHEN/LIVINGAPT 5
BEDROOM
BEDROOM
BEDROOM
WC
WC WC
WC
STSTSTORESTORESTORE
WC
BEDROOM BEDROOM
BEDROOM
BEDROOM BEDROOMBEDROOM BEDROOM
BEDROOM BEDROOM BEDROOM BEDROOM
BEDROOM
BEDROOM
BEDROOM
STORE
STOREST
WC
WC WC
WC
WC
ST
STORE
KITCHEN/LIVINGAPT 1
KITCHEN/LIVINGAPT 2
KITCHEN/LIVINGAPT 6
KITCHEN/LIVINGAPT 7
KITCHEN/LIVINGAPT 8 KITCHEN/LIVING
APT 9
KITCHEN/LIVINGAPT 10
APT 5APT 3APT 2
KITCHEN/LIVINGAPT 3
KITCHEN/LIVINGAPT 4
KITCHEN/LIVINGAPT 5
BEDROOM
BEDROOM
BEDROOM
BEDROOM BEDROOM BEDROOM BEDROOM
KITCHEN/LIVINGAPT 11
KITCHEN/LIVINGAPT 12
KITCHEN/LIVINGAPT 13
KITCHEN/LIVINGAPT 14
KITCHEN/LIVINGAPT 15
BEDROOM BEDROOM BEDROOM BEDROOM
BEDROOM
BEDROOM BEDROOM
STORE
STORE
STORE
STOREWC WC
WCST
STORESTOREST WC WC
WC
WC
WCST
KITCHEN/LIVINGAPT 16
KITCHEN/LIVINGAPT 17
KITCHEN/LIVINGAPT 18
BEDROOM
BEDROOM
BEDROOM
BEDROOM BEDROOM BEDROOM BEDROOM
KITCHEN/LIVINGAPT 11
KITCHEN/LIVINGAPT 12
KITCHEN/LIVINGAPT 13
KITCHEN/LIVINGAPT 14
KITCHEN/LIVINGAPT 15
BEDROOM BEDROOM BEDROOM BEDROOM
BEDROOM
BEDROOM BEDROOM
STORE
STORE
STORE
STOREWC WC
WCST
STORESTOREST WC WC
WC
WC
WCST
KITCHEN/LIVINGAPT 16
KITCHEN/LIVINGAPT 17
KITCHEN/LIVINGAPT 18
LIVING
KITCHEN
BATHROOM
STORE
BEDROOM BIN STORE BEDROOM
BATHROOMSTORE
LIVING
KITCHEN
PLANT ROOM
PEESTRIAN ACCESS
27M²
20M²5.8M² 12M²
5.6M²
34M²
19M²
PROPOSED 1 BED APARTMENT
1 2 3 4
5 6 7 8
910
1112
1314
1516
1718
1920
21
22
23
24
WINTERGARDEN WINTERGARDEN
PROPOSED RETAIL/ COMMUNALSPACE
PROPOSED RETAIL/COMMUNAL SPACE
TERRACE
KITCHEN /LIVING
BATHROOM
BEDROOM
BEDROOM
KITCHEN /LIVING
WC
TERRACE
STORAGE
BEDROOM
KITCHEN /LIVING
KITCHEN /LIVING
STOREWC
WC
ST
BEDROOMBEDROOM BEDROOM BEDROOM
STOREWC
KITCHEN /LIVING KITCHEN /
LIVING
WC
BEDROOM
KITCHEN /LIVING
WCSTORE
BEDROOM
BEDROOM
ST
14.6M²
30M²
5.8M²
4M²
16M²
3.2M²
30M²
5.5M²
8.3M²
9.9M²
5.5M²
21M²
6.4M²
4.5M²2.5M²
10M²
21M²
10M² 6.4M²
2.5M² 4.5M²
21M²
9.8M²
5M²
15.5M²
6.4M²
10M²
2.5M²
21M²
STORAGE
BEDROOM12.5M²
STORAGE2.8M²
4.6M²
PROPOSED 1 BEDAPARTMENT
PROPOSED 2 BEDAPARTMENT
EXISTING APARTMENTS
TERRACE
KITCHEN /LIVING
BATHROOM
BEDROOM
BEDROOM
KITCHEN /LIVING
WC
TERRACE
STORAGE
BEDROOM
KITCHEN /LIVING
KITCHEN /LIVING
STOREWC
WC
ST
BEDROOMBEDROOM BEDROOM
BEDROOM
STOREWC
KITCHEN /LIVING KITCHEN /
LIVING
WC
BEDROOM
KITCHEN /LIVING
WCSTORE
BEDROOM
BEDROOM
ST
14.6M²
30M²
5.8M²
4M²
16M²
3.2M²
30M²
5.5M²
8.3M²
9.9M²
5.5M²
21M²
6.4M²
4.5M²2.5M²
10M²
21M²
10M²6.4M²
2.5M² 4.5M²
21M²
9.8M²
5M²
15.5M²
6.4M²
10M²
2.5M²
21M²
STORAGE
BEDROOM12.5M²
STORAGE2.8M²
4.6M²
PROPOSED 1 BEDAPARTMENT
PROPOSED 2 BEDAPARTMENT
EXISTING APARTMENTS
470M²
EXISTING COMMUNALOPEN SPACE
OFFICE CONVERSION
NORTHERN EXTENSION - FIRST FLOOR
NORTHERN EXTENSION - SECOND TO FOURTH FLOOR
Savills Ireland and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Lessees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Neither Savills Ireland nor any of its employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither Savills Ireland nor any of its employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/Lessees or any third party arising from the particulars or information contained in this brochure. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/lessees shall be liable for any VAT arising on the transaction. This brochure is issued by Savills Ireland on the understanding that any negotiations relating to the property are conducted through it. All maps produced by permission of the Ordnance Survey Ireland Licence No AU 001799 © Government of Ireland. Design by mmcreative.ie
SELLING AGENT
Savills 33MolesworthStreet Dublin2
SHANE CORBY [email protected] +353(0)16181450
DARRAGH DOYLE [email protected] +353(0)16181341
DESSIE KILKENNY [email protected] +353(0)16181401
SOLICITORS
Kennedys BloodStoneBuilding SirJohnRogerson’sQuay Dublin2
CAROL MAGUIRE +353(0)14825708 [email protected]
ECONOMIC OVERVIEWIrelandcontinuestoexperiencethefastestrateofeconomicgrowthintheEUwithtotaloutputrisingatanannualrateof9.0%.Jobsgrowthremainsthecatalystforthisexpansion.Morethan74,000netnewjobshave been created in the last twelve months and total employmenthasnowsurpasseditsboom-timepeak.
PRIVATE RENTED SECTORIntheearly2000s,approximately12%ofhouseholdsinDublin rented privately. During this period private renting was generally considered a secondary tenure that was mainly for young people transitioning towards a longer-termgoalofhomeownership.Morerecently,however,stronghousepriceinflationandstrictermortgagelendinghavemadehomeownershiplessaffordable.Alongwithchangingattitudestorenting,thesedynamicshave led to the proportion of households renting privatelyinDublinrisingtoover24%.
DespiteanincreaseintheoverallstockofpropertiesinDublin’sprivaterentedsector(PRS),thenumberof
units that are available to rent has fallen sharply since 2011withvacancynowstandingatjust1.31%.ThisissignificantlybelowtheNaturalVacancyRate(NVR)whichweeconometricallyestimatetobe5.3%inthecapital. Theory suggests that if the actual vacancy rate liesbeneaththeNVRthemarketisundersuppliedandrentswillberising,andthat’sexactlywhatishappening.AverageresidentialrentsinDublinarecurrentlyrisingby7.8%perannum.
RESIDENTIAL RENTAL MARKET RentcontrolswerefirstintroducedinDublininDecember2016.Generally,theselimitrentalgrowthtoamaximumof4%perannum.However,thereareexemptionsforpropertiesthathavenotbeenpreviously let within the last two years and in the case of a substantial change in the nature of accommodation provided by a landlord. These legislative changes allow for the possibility of a divergence between average rental growth rates and rental growth rates on newly let or new buildpropertiesandappeartoexplainwhyrentalgrowthinDublincontinuestoexceedtheregulatedgrowthrateof4%perannum.