ROBIN HILL. Entire Multi-Family Block of 51 Investment Apartments. Dundrum, Dublin 16.

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1 ROBIN HILL Dundrum, Dublin 16. Entire Multi-Family Block of 51 Investment Apartments

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3 Investment Summary An opportunity to buy an entire block of 51 apartments located in a mature and popular residential location close to Dundrum The offering is currently generating a rent of 498,240 per annum based on occupancy of 70%; compared to an estimated rental value of 994,800 per annum when fully let The Dublin apartment letting market is performing very strongly with demand outstripping supply. Dundrum and Sandyford are in high demand with tenants Apartment rents grew by 8.7% during 2015 M50 SANDYFORD ESTATE CLOSE TO DUNDRUM TOWN CENTRE LUAS ATTRACTIVE BLOCK 51 APARTMENTS 82 BASEMENT SPACES COMPLETED x 1 BED APARTMENTS 47x 2 BED APARTMENTS 2x 3 BED PENTHOUSES CURRENT INCOME E498,240 ONLY 70% LET ERV E994,800 3

4 The Bea Blackrock Stillorgan Dunnes Stores LUAS Green line Stillorgan Industrial Park The Beacon Hotel Naomh Olaf GAA Club Balally Shopping Centre Primary School Irish Management Institute Dundrum Town Centre 4

5 Foxrock Leopardstown Race Course LUAS Green line Central Park con Hospital ROBIN HILL M50 Sandyford Road Sandyford Village For identification purposes only. 5

6 Robin Hill The Location Robin Hill is located in the increasingly popular Dundrum area, just off the M50 between Dundrum Village and Sandyford, at the junction of Sandyford Road and Blackthorn Drive. It lies 550 metres west of the Beacon Hospital and 1.25 km southeast of Dundrum Town Centre. 800m LUAS GREEN LINE 700M AWAY 8.5km DUBLIN CITY Within walking distance to Dundrum Town Centre and Beacon South Quarter Very popular letting and owner occupier location Easy motorway access at junction 14 of the M50 (700m) Close to Dublin s premier suburban office location including Microsoft s European HQ Numerous sports clubs, leisure amenities and Leopardstown racecourse nearby Beacon and Clayton hotels nearby SWORDS M50 DUBLIN AIRPORT BLANCHARDSTOWN SANTRY M50 CITY CENTRE M1 MALAHIDE CLONGRIFFIN CLONTARF DUBLIN PORTMARNOCK HOWTH KIN TALLAGHT ROBIN HILL RANELAGH DUN LAOGHAIRE DALKEY DUNDRUM STILLORGAN M50 KILLINEY SANDYFORD 6

7 Dundrum Town Centre R825 AD D EAST DUNDRUM TOWN CENTRE Airfield KILMACUD WEST STILORGAN LUAS LINE R826 DUNDRUM BALALLY R825 KILMACUD ROBIN HILL BENILDAS AVENUE STILLORGAN Ballawley Park Resevoir TEER BALLINTEER AVE. R826 BALALLY SANDYFORD ROAD R117 Irish Managment Institute Campus DRUMMARTIN LINK ROAD BLACKTHORN DRIVE Beacon Hospital Beacon South Quarter SANDYFORD TIPPERSTOWN N3 SANDYFORD ESTATE N31 M50 N31 LUAS LINE Not to scale, for illustration purposes only. SIMON S RIDGE SANDYFORD R113 N31 M50 LEOPARDSTO CENTRAL PARK Balally LUAS Stop Marlay Park 7

8 Robin Hill Description Robin Hill comprises a four-storey curved building of 51 apartments over basement car parking, with a central landscaped courtyard. The development was completed circa 2007 to a very high standard The Investment comprises the freehold interest in the entire development of 51 apartments and 82 car parking spaces The development is also landscaped Robin Hill benefits from pedestrian access onto Sandyford Road and Blackthorn Drive. Access to the underground car park is off Blackthorn Drive, via Limes Road / Rowans Road Robin Hill from east side, Rowans Road Balcony 8

9 ENTIRE BLOCK 51 APARTMENTS CAR PARKING Basement COURTYARD Landscaped and Communal DISTINCTIVE Corner Block BALCONIES and Terraces FOUR STOREYS Completed 2007 For identification purposes only. 9

10 Robin Hill Outline OS map of Robin Hill Not to scale, for illustration purposes only. Kitchen 10

11 Internal Courtyard Schedule of Accommodation Details of the apartment s gross internal floor areas are set out below. Unit Type 1 Bed 2 Bed 2 Bed Penthouse 3 Bed Penthouse Total Total Average Unit Size (sq.m.) ,414 Average Unit Size (sq.ft.) ,335 47,512 All intending purchasers are advised to verify the floor areas and undertake their own due diligence. 11

12 Robin Hill Specification Common Areas CCTV to common area and access control Attractive landscaped courtyard areas. Quality paving throughout Stairs and corridors finished in high quality tiles Secure individual post boxes Secure underground parking Kitchen Contemporary designed kitchens Integrated appliances High quality floor tiling Bedrooms Full height fitted wardrobes with integrated shelves and hanging rails Majority of the two and three bedroom apartments have master bedroom en-suite Wired for TV and telephone in all bedrooms Bathroom Luxuriously appointed bathrooms Fully tiled Chrome and glass bath/shower screen Thermostatically controlled high-pressure shower Windows and Doors High quality double-glazed composite windows with floor to ceiling windows and patio doors in living rooms to maximise natural light Solid hardwood main entrance door to apartments Selected veneer doors with chrome furniture to all internal doors Electrics Apartments are pre-wired for cable television, alarm and telephone Security video intercom to apartments Generous electrical specification Chrome finishes to switches and sockets in living rooms and kitchens Lift High speed lifts which serve all floors from underground car park Flooring High quality tiles to hallways, kitchens, living rooms and dining areas. Carpets to bedrooms and tiles to bathrooms and en-suites Heating and Hot Water Communal Natural Gas central heating with unit metres Pressurised hot water system 12

13 Living/ Dining room Bedroom 13

14 Robin Hill Investment / Tenancy Details Thirty-six of the Robin Hill apartments are currently let (70%). Fifteen of the apartments are vacant of which three are fitted out for letting and twelve are yet to be fitted out. The rented apartments are let on short term residential tenancy agreements, the majority of which are for a fixed 12 month period The current rental income is 498,240 per annum based on the thirty-six let units There is an immediate opportunity to significantly increase the rental income securing tenants for the fifteen vacant apartments and reviewing rental levels on the tenanted apartments Unit Type 1 Bed 2 Bed 2 Bed Penthouse 3 Bed Penthouse Total Total Units Average Unit Size (sq.m.) ,414 Average Unit Size (sq.ft.) ,335 47,512 No. of Current Vacant Units Average Rent per Unit (p.m.) 1,150 1,193 1,131 1, ,240 p.a. Estimated Rental Values per Unit (p.m.) 1,350 1,600 1,750 2, ,800 p.a. Economic Overview at a Glance 22% FALLING UNEMPLOYMENT 20% 15% 10% 8.7% 5% 4.8% 4.1% STRONGEST EMPLOYMENT GROWTH RATE IN EUROPE DUBLIN RATE 8.8% APT RENTS RISING GDP GROWTH 1.2% GROWING CONSUMER SPENDING EXCHEQUER RETURNS POP. GROWTH PROJECTED IN DUBLIN DUBLIN IS THE INTERNET HUB OF EUROPE 1,150 INTERNATIONAL CORPORATE S HEADQUARTERED IN DUBLIN 14

15 Further Information Floor Plans Available on the Data Site. Website and Data Site Tenure We understand that the subject property is held on a single freehold title. Vendor Joint Statutory Receivers Paul McCann and Stephen Tennant of Grant Thornton. Estate Management The development is managed by Lowe & Associates. Full details are available in the Data Site. Building Energy Ratings The BER s for the subject apartments range from B1 - D1. Individual BER numbers are available on the data site. Building Survey Assignable building survey available on the Data Site. Terms For Sale by Private Treaty in a single lot. Pricing On application. Solicitors Gartlan Furey Solicitors, 20 Fitzwilliam Square South, Dublin 2. Viewings Viewings are strictly to be arranged through the joint selling agents. 15

16 Joint Selling Agents Lisney St. Stephen s Green House Earlsfort Terrace, Dublin 2, Ireland. PSRA licence No Duncan Lyster +353 (0) dlyster@lisney.com Lynda Gordon +353 (0) lgordon@lisney.com Frank McSharry +353 (0) fmcsharry@lisney.com Hooke & MacDonald 118 Lower Baggot Street, Dublin 2, Ireland. PSRA Licence No David Cantwell +353 (0) davidc@hookemacdonald.ie Donald MacDonald +353 (0) donald@hookemacdonald.ie Gavin Hanlon +353 (0) gavin@hookemacdonald.ie ROBIN HILL PROPERTY MISREPRESENTATION ACT The Joint Agents and the Vendors give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Lessees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Lisney and / or Hooke & MacDonald nor any of their employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and Lisney and / or Hooke & MacDonald nor any of their employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/lessees or any third party arising from the particulars or information contained in this brochure. design conradjones.com