Tudor Grove & Madonna House Station Road, Ballincollig, Co. Cork

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1 FOR SALE BY PRIVATE TREATY Tudor Grove & Madonna House Station Road, Ballincollig, Co. Cork Multi Unit Investment Property Located adjacent to the heart of Ballincollig, this property comprises purpose built single and dual occupancy units as well as a building currently in the course of renovation which offers the potential to increase the income stream substantially. Ballincollig is a thriving town west of Cork city with an excellent local employment record and facilities. The property is within walking distance of the shopping centre, church, schools etc. It has a very good occupancy rate producing a positive income stream and has been actively managed. The complex is set on its own secure grounds with parking which increases its lettability. 23 South Mall, Cork. Tel (021) Fax (021) info@irishandeuropean.ie Company Reg No PSRA Licence No:

2 Location: The property lies south of the main street of Ballincollig. It is accessed from the main street by taking the turn onto Station road at the traffic lights opposite the pedestrian entrance to Dunnes Stores and continuing on straight for c. 300m. The property is on the right hand side of the road opposite the church. Ballincollig is one of Corks largest satellite towns and lies approximately 8.5 km west of the city centre. It is well serviced by a regular bus service as well as national primary roads. The town has developed substantially from both a residential and commercial viewpoint in the last 15 years. Situated just off the N22 the town is easily accessed from Cork city Description: The property comprises c.0.8 acres with road frontage along its eastern boundary onto Station Road and frontage onto a local estate road along its western boundary. There is an open green area to the north and a residential estate to the south. The property can essentially be divided into 2 lots; Tudor Grove and Madonna House. Tudor Grove comprises a single storey multi-unit residential development with a central courtyard. There are 16 units in the complex, 15 one bed and 1 two bed. Each unit is accessed via the central courtyard which has a secure access point. Each of the 1 bed units comprises an open plan kitchen/dining/living room with ensuite bedroom off. Each unit also has its own separate fire exit via the bedroom. The 2 bedroom unit comprises an open plan kitchen/dining/living room, 2 bedrooms (1 ensuite) and bathroom. Tudor Grove has 16 car spaces in the car park allocated to it.

3 Madonna house is the original building on site and previously traded as a nursing home until It is a detached dormer building which can be accessed from either Station road or the car park. The parking which fronts onto Station road is allocated to Madonna House. It is currently in the course of being converted to 4 large residential units. One of the units is to be a 4 bedroom duplex (Apt. 1) with the others being 3 beds (apt 4 & 2) and one 2 bed (No 3). These units are mid conversion and will require investment to complete. Madonna house previously had outline permission to be converted to eight 2 bedroomed apartments.

4 There are also a further 17 car spaces available in the car park which are not currently allocated specifically to either Tudor Grove or Madonna House so could easily add to the income stream Accommodation: Tudor Grove: Units 1-15: Unit 16: One bedroom units with open plan kitchen/dining/living room with ensuite bedroom off. Two bedroom unit with open plan Kitchen/dining/living room,2 bedrooms (1 ensuite) bathroom. Gross Floor area: c.845 sq.m. / c.9092 sq.ft Madonna House: (Proposed accommodation under current conversion works) Apt 1: Apt 2: Apt 3: Apt 4: 4 bedroom duplex with kitchen/dining room, living room, sunroom, bathroom and store. (Gross area c.173 sq.m. / c.1871 sq.ft.) Kitchen/ dining room, living room, 3 bedrooms, bathroom, conservatory (Gross area: c.154 sq.m. / c.1657 sq.ft.) Kitchen/ dining room, living room, store, 2 bedrooms, bathroom, (Gross area: c.86 sq.m / c.928 sq.ft.) Kitchen/ dining room/ living room, store, 3 bedrooms, bathroom, (Gross area c sq.m. / c.1351 sq.ft) Services: Title: Occupancy: Mains water, sewer, storm Heating: Electric Heating Freehold When fully let Tudor Grove is capable of providing a monthly income stream of 13,750 (based on 850 per month for the 1 bed and 1000 for the 2 bed). BER: Ratings: E2-G BER Numbers: Available on request Energy Performance Indicator: Available on request Asking Price: On application

5 Viewing: Strictly by appointment with sole selling agent. Location Map