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Crafted by 4Property.

Multi-family Investment, Camden Court, Carrolls Quay, Cork City, Co. Cork


Price
€12,000,000

Type
Commercial

Status
For Sale

BER
BER
B3

Area
3,430 sq.m.

Description

Coldwell Banker Commercial present a rare opportunity to acquire one of the few remaining existing complete multifamily investment properties, in Cork City Centre. The complex comprises of a total of 49 residential homes and one ground floor retail space.

The gross rent is scheduled to reach 773,760pa following the implementation of current rent revisions under RPZ legislation and represents an attractive yield of 6.45%. Passing rent 744,000

The complex comprises of a total of 36 two bedroom apartments averaging 70sqm, along with a total of 13 one bedroom apartments averaging 52sqm.

Originally completed in mid 2007, 27 of the 49 residential apartments along with the internal common areas have undergone substantial refurbishment over the last three years with average rents allowing for further rent-roll improvement pending the completion of the remaining apartment refurbishments.

Camden Court is a rare and attractive holding for those looking to acquire a strategically
located complete residential multi family investment in heart of Cork City Centre.

The complex is well maintained and has been tenanted at 97% occupancy throughout 2020/2021. All units are currently rented to the private rented sector and attract professional tenants given the proximity of the complex to Cork City Centre, South Mall, One Albert Quay, UCC, the Mercy Hospital, as well as Blackpool Retail Park.

All viewings are strictly by appointment only, with Sole Agents:

Coldwell Banker Commercial
Contact: Pat Falvey 021-4278500