Ashbourne apartment portfolio at €1.25m offers purchaser 8.11% yield

Seven units at Killegland scheme for sale with benefit of vacant possession

The  apartments are spread across three blocks at the Killegland scheme in Ashbourne, Co Meath

The apartments are spread across three blocks at the Killegland scheme in Ashbourne, Co Meath

 

A portfolio of seven apartments at the Killegland development in Ashbourne, Co Meath has been brought to the market by agent REA Grimes at a quoting price of €1.25 million.

The subject units are distributed across three blocks and comprise six two-bedroom apartments and one three-bedroom apartment. All seven apartments are being sold with the benefit of vacant possession.

Based on the selling agent’s net rental income estimate of €110,207 per annum, the prospective purchaser could expect to secure a reversionary yield of 8.11 per cent on the portfolio.

Opportunities

The properties are located within the mixed-use Killegland scheme at the heart of Ashbourne town. Extending across an overall area of 24,155sq m (260,000sq ft), the property is anchored by Tesco.

Ashbourne has a population of approximately 13,000 persons, and enjoys ready access to the M2 motorway and the wider national motorway network. Siobhán O’Sullivan of REA Grimes says: “Given the shortage of yield-driven opportunities in the market at present, we believe this offering represents a good long-term investment. We expect it to be well-received in the marketplace.”