The Investment opportunity comprises 27 apartments at Fawn Lodge (Lot 1) and the adjoining substantial residence of Deerpark House situated beside the Castleknock Gates of Phoenix Park (Lot 2) or the entire (Lot 3).
The 27 apartments are approximately 25,802 sq.ft in size with one beds averaging 678 sq.ft, two beds averaging 861 sq.ft and three beds averaging 1,927 sq.ft.
Passing rent is currently €451,200 per annum with 3 units held vacant. This would be expected to grow to in excess of €565,000 once the 3 vacant units are let and current rents are reviewed in line with the 4% caps, representing a 6.65% Gross Return and a capital value of approximately €330psf.
Guide price is excess €8.5 million for the 27 standing stock apartments (Lot 1) plus €1.5m for the adjoining Deerpark residence/development site (Lot 2).
27 apartments together with 32 basement car spaces with a current passing income of approx. €451,200 with significant reversionary potential. 23 units are located in one complete standalone block, and the remaining 4 units are interspersed throughout the remaining block. There is further opportunity to maximise the Net Operating Income through optimising the independent management of the block held in 100% ownership.
Guide: Excess €8,500,000
Lot 2, Deerpark House, neighbours the Fawn Lodge scheme and comprises a substantial detached residence of approx. c. 483 sq.m. (5,198 sq.ft.) a site of approx. 0.3 acres. The house is currently in use as a 8 bedroom B&B but purchasers are likely to also value its development potential to provide for additional high-end apartments at this excellent location.
Guide: Excess €1,500,000
Further Information & Dataroom available at www.FawnLodgePRS.com
(These particulars do not constitute an offer or contract, and whilst every effort has been made in preparing all descriptions, dimensions, maps, and plans, these details should not be relied upon as fact. Dimensions / Illustrations are for guideline purposes only and not to scale. Citywide Auctioneers Ltd will not hold itself responsible for any inaccuracies contained therein.)