6 Apts at St. Conleth Park, Main Street, Newbridge, Kildare

12 Bedroom Block of Apartments Contract Deposit Applies
Starting Price* 950,000

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  • Overview
  • Particulars
  • Request Details
  • Agent Details
  • Deposit & Charges Explained

Property Overview

For Sale by Byrne Malone Estate Agentsvia the iamsold Bidding Platform

We are delighted to present this magnificent FREEHOLD investment opportunity in a strategic location in he very heart of Newbridge Town Centre.

The property consists of 6 Freehold apartments together with associated common areas, grounds/gardens and 6 car park spaces. These apartments are in excellent condition and producing a good rental yield. Although all of the apartments are occupied 3 of the apartments are not subject to the Rental Pressure Zone Caps of 2% and instead are subject to the Private Rents sub index of the Consumer Price Index currently running at 11.2%
Huge potential exists to further develop this site. Subject to planning, a third story could be added to the existing building or indeed further development could take place on the existing parking areas within the curtilage of the subject property.

Entire block of 6 x 2-bed apartments located in the centre of Newbridge
Built in 1995
Own parking spaces, communal gardens and bin storage area
Vehicle and pedestrian gates
Fully-let with a current rent-roll of €6,178/month (€74,136/year)

GRANTS AVAILABLE FOR UPGRADES
The recent BERs for Apt 1 & 2 show that the potential BER rating with upgrades for these units is an A2. Should the whole block be upgraded at some stage with the recommended upgrades, the BER ratings of all 6 apartments would improve by at least 7 BER ratings,
ALLOWING MARKET RENTS TO APPLY TO THE UPGRADED PROPERTIES. The BER assessor confirmed that currently there are €59,700 of SEAI grants available for upgrades to this block.
External Wall Insulation grant value of €3,000 per apartment, Total = €18,000
Attic insulation grant value of €800 per Top floor apartment, Total = €2,400
Solar PV grant value of €1800 for a 2kWp solar panels per apartment Total = €10,800
Air to Water heat pump system grant value of €4,500 per apartment, Total = €27,000
Technical Assessment and BER cost of €250 per apartment, Total = €1,500
Total grant funding available under the Better Energy Homes = €59,700

PROPOSED LOCAL DEVELOPMENT
St Conleths Apartments opens out onto St Conleths Carpark located beside St Conleths GAA county grounds. Kildare County Council have also selected this area to house the new Civic Space/Town Square as part of a cultural quarter redevelopment. They are proposing the development of a hotel and office developments within this area as well as new civic space. Next Door to the subject property are the Bord Na Mona complex. There are plans to open these grounds up for East West pedestrian access from the Whitewater Shopping centre through to the new proposed Civic Spaces and St Conleths Apartments.

Just off Main Street beside the Town Hall, Saint Conleth’s Park GAA pitch, the GAA surface carpark & Bord na Móna’s headquarters.
From informal discussions with Kildare County Council Planning Department in 2017, a third storey of 3 x 1-bed apartments should be acceptable.
Given the planned developments for the carpark, stadium and Bord Na Mona HQ and the likely vehicle access restrictions for the apartments’ own carpark spaces, a significantly denser development of the site may be permitted.
Kildare GAA are due to commence redevelop of the adjacent County Stadium in 2022.
Bord na Móna have submitted plans to open their campus to the public after 200 years with some major development including building a new 4-storey HQ adjacent to the apartment site and opening up a walkway behind the apartment site from the GAA carpark to the Whitewater Shopping Centre.
Kildare County Council have also published plans for a ‘Cultural and Civic Quarter’ centred on the development of the adjacent GAA carpark. The proposals envisage a town plaza, a 4-storey hotel & a 4-storey commercial building, together with the redeveloped GAA stadium, the Bord na Móna development and the walkway from this central plaza directly to the Whitewater Shopping Centre.

THE LOCATION
Currently this fantastic Freehold development is 1 minutes walk from the Whitewater Shopping Centre, Pennys, Newbridge Main Street as well as schools churches, supermarkets and lots more. The Liffey Linear park is 1 minute away and Newbridge train with direct lines to heuston and Connolly Train Stations is five minutes walk.

BER RATINGS:
Apartment 1:
BER D2 / BER No. 100719624
Apartment 2:
BER D2 / BER No. 101177897
Apartment 3:
BER E2 / BER No. 107179954
Apartment 4:
BER F / BER No. 107180234
Apartment 5:
BER E1 / BER No. 107903916
Apartment 6:
BER E1 / BER No. 106101082

TO VIEW OR MAKE A BID Contact Byrne Malone Estate Agents or iamsold. www.iamsold.ie

Starting Bid and Reserve Price

*Please note all properties are subject to a starting bids price and an undisclosed reserve. Both the starting bid and reserve price may be subject to change. Terms and conditions apply to the auction, which is powered by IAM Sold Property Auctions.

Auctioneer's Comments

This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale.

Building Energy Rating (BERs)

Building Energy Ratings (BERs) give information on how to make your property more energy efficient and reduce your energy costs. All properties bought, sold or rented require an BER. BERs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your property could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All properties are measured using the same calculations, so you can compare the energy efficiency of different properties.

Property Particulars

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Byrne Malone Estate Agents

Local Branch: 16 Liffey Terrace, Newbridge, KILD ARE
Head Office: Village Square, Tallaght, DUBLIN24

Deposit & Charges Explained

6 Apts at St. Conleth Park, Newbridge

Online Auctions

A non-refundable contract deposit of 10% (minimum deposit of €6,500.00) is required to be paid by the successful bidder for this property.

A Bidder Security Deposit of €4,500.00 is required to be pre-authorised from the bidders debit or credit card through the payment facilities on the auction website when registering to bid. A bidder has also the option of transferring the minimum deposit amount by bank transfer to iamsold's client account to authorise them to bid on the Online Auction (please note, this option may take several days).

The pre-authorisation amount will only be captured from the successful bidder on acceptance of their bid. This will form part of the non-refundable part payment contract deposit.

Any balance of the full contract deposit must be paid by the successful bidder to iamsold within 48 hours of acceptance of their bid. The deposit balance can be paid by debit/credit card, or same day bank transfer to iamsold's client account.

All unsuccessful bidders will have their pre-authorisations released OR their bank transfer refunded within 5 working days of conclusion of an auction or withdrawal of the Lot from the Online Auction.

Bidders are required to pay a non-refundable €50.00 (including 23% VAT) registration fee per property they register to bid on.

 

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Disclaimer

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection, measurement or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. Properties may be sold via online auction or public auction and bids made prior to public auction may be accepted by the vendors. IAM Sold and our partner auctioneer will share relevant personal information and transactional updates with each other so that we can effectively market and sell properties including the arrangement of viewings and follow up.

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