A large collection of development, residential and investment properties – mainly in Cork, Waterford and Kilkenny – is new to the market this week through DTZ Sherry FitzGerald.
Included in the sale are more than 95 acres of development land, 65 complete and substantially complete houses and apartments, eight partially complete houses, 41 house bases and six commercial units.
These assets are producing a rent roll in excess of €550,000 per annum, with more than 90 per cent of this coming from the residential element.
The agent is not issuing a guide price for the portfolio, or for any of the individual assets, but makes the point that “this is a multi-million euro” collection of assets which may suit a single buyer for the entire or individual buyers for the separate lots.
“This collection provides numerous opportunities to add value by securing new planning permissions and to optimise rental income as units are relet and rents are reviewed,” according to the agent.
The most significant assets in the sale include 37 acres of development land at Glounthaune, Co Cork; 17 completed houses, two substantially completed houses and more than eight acres of undeveloped lands at Woodville, Dunkettle, Co Cork; and 11 completed houses, one substantially completed house and 10 house bases and adjoining lands at Cluain Cairn, Carrigtwohill, Co Cork.
Another substantial asset at Ferrybank in Waterford city provides six complete houses, five substantially complete and eight partially complete houses, 17 bases and over 45 acres of as yet undeveloped lands.
There is also a development site off the Rochestown Road in Cork city, lands off Main Street, Carrigtwohill, and a waterfront infill development site on Bailick Road in Midleton, Co Cork.
In addition, a student accommodation investment of eight apartments in Cork city centre and four adjoining office units at Fota Business Park on the western approaches to Carrigtwohill are also included.
The entire collection is for sale by private treaty in one or more lots.