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

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.

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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.”