Christchurch Hall

27 Christchurch Hall, High Street, Dublin 8

€325,000

DETAILS

2Beds

1Baths

55 M2 Area

***Superb Investment Opportunity***

 

This 2 bedroom apartment in Christchurch Hall is coming to the market with the benefit of a 10 year lease from January 2017 to a Corporate Tenant who is currently renting all of the apartments in the development. The development is run as Serviced Apartments by a well-established short-term accommodation provider, Stay City, who ensure that the individual apartments and the block as a whole are maintained to a very high standard.

The Lease guarantees an initial NET Yield of 4.8% per annum with a rent reviews to take place in January 2022 and July 2024:

Initial Lease

Guide Price:

€325,000

Monthly Rent:

€1,339

Service Charge:

€500

Initial Net Yield:

4.8%

Under the terms of the Lease the Tenant is responsible for the majority of items that would normally fall under Landlord Obligations:

  • Insurance

  • Internal Maintenance

  • Refuse

  • Appliance Repair & Replacement

  • Furniture Upkeep & Replacement

The owner will be responsible for the payment of an annual service charge of approx. €500, which is deducted from the rent by Stay City on a monthly basis.

Advantages to Landlord:

  • No day to day involvement required

  • Strong covenant

  • No void periods

  • No management agent fees

  • No letting fees

  • No tenant related issues (withholding rent, PRTB etc)

  • No internal maintenance costs

  • No appliance or furniture replacement costs

  • 24 hour reception & concierge

  • Low Annual Service Charge

The tenant has undertaken significant works to the exterior of the development at their own expense along with significant upgrade of each individual unit costing approx. €27,000 per unit. This work is due for completion by the end of Q1 2020. The new owner will reap the benefits of these upgrade works. We have included photos of a completed unit as a representation of what the apartment will look like once the work is complete.

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