Wallace Estates presents a stand alone residential investment portfolio consisting of 11 apartments producing a current gross income of €143,800 and a plot of land measuring in excess of .1 acres zoned residential on the local area development plan. Laurel Grove consists of 11 apartments in total. Seven one bed apartments Four two bed apartments Two car parking areas Two green areas, one to the rear and one to the side Plot of undeveloped land to the left of the main complex.
-Nine of the 11 apartments have their own front door entrances
-Ten of the apartments have been completely refurbished in the past 4 years 7 apartments refurbished in 2014 by interior designer including dry lining walls, new high gloss kitchens with integrated appliances & grey oak laminate flooring. 1 apartment refurbished in 2015 to similar standard 2 apartments refurbished in 2017 to similar standards
-Maintenance fees are minimal as the majority of units have their own entrance so no associated lift maintenance fee, corridor cleaning/painting fees or electronic gate maintenance fees.
-Over the 4 year period the block has achieved a full occupancy rate of 99.5% (excluding renovation period)
-All furniture and integrated appliances included in the sale.
Laurel Grove is situated less than a minute walk from the centre of Delgany which is a picturesque village located 2km outside of Greystones. Property rental prices remain relatively comparable between Delgany and Greystones due to the popularity of this village's beautiful setting and local nature facilities and yet close proximity to a substantial host of amenities in Greystones village including the DART network to the city centre. Delgany village is also inline to receive some extra social and commercial amenities with planning permission recently granted for the demolition of the Delgany arms and the provision of retail, office and restaurant space.
Potential: Development offers excellent potential for capital growth with a stable rental income record. Possible potential to divide folio and sell or apply for planning permission on undeveloped land for a detached residence. This is an ideal investment for a pension fund or individual looking to boost their property portfolio with a low maintenance stand alone block of apartments.
By private appointment Bernadette Wallace Telephone (086) 210 26 30
Disclaimer: The particulars, photographs, dimensions, plans, references to condition and permissions for use and occupation are provided in good faith and believed to be correct but their accuracy is not guaranteed and any intending Purchasers shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or mis description shall be ground for a claim for compensation nor for the rescission of the contract by either the Vendor or the Purchaser. The vendor nor any employee of Wallace Estates has the authority to provide warranty of any description in relation to the property.
Wallace Estates, for themselves and for the vendors or lessors of the property whose Agents they are, give notice that: (i) The particulars contained herein are set out as a general outline for the guidance of intending purchasers or tenants, and do not constitute any part of an offer or contract and are not in any way legally binding. (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) No person in the employment of Wallace Estates has any authority to make or give representation or warranty whatever in relation to this development. (iv) The particulars contained herein are confidential and are given on the strict understanding that all negotiations shall be conducted through Wallace Estates. (v) Wallace Estates disclaims all liability and responsibility for any direct and/or indirect loss or damage which may be suffered by any recipient through relying on any particular contained in or omitted from the aforementioned particulars.