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AMV: €950,000

6 Apts at St. Conleth Park, Main Street, Newbridge, Co. Kildare

12 Bed

6 Bath



  • Sale Type: For Sale by Public Auction
  • Auction Location: online
For Sale by Byrne Malone Estate Agentsvia the iamsold Bidding Platform Please note this property will be offered by online auction unless sold prior. Vendors may decide to accept pre-auction bids so please register your interest with us to avoid disappointment. We are delighted to present this magnificent FREEHOLD investment opportunity in a strategic location in he very heart of Newbridge Town Centre. The property consists of 6 Freehold apartments together with associated common areas, grounds/gardens and 6 car park spaces. These apartments are in excellent condition and producing a good rental yield. Although all of the apartments are occupied 3 of the apartments are not subject to the Rental Pressure Zone Caps of 2% and instead are subject to the Private Rents sub index of the Consumer Price Index currently running at 11.2% Huge potential exists to further develop this site. Subject to planning, a third story could be added to the existing building or indeed further development could take place on the existing parking areas within the curtilage of the subject property. Entire block of 6 x 2-bed apartments located in the centre of Newbridge Built in 1995 Own parking spaces, communal gardens and bin storage area Vehicle and pedestrian gates Fully-let with a current rent-roll of €6,178/month (€74,136/year) GRANTS AVAILABLE FOR UPGRADES The recent BERs for Apt 1 & 2 show that the potential BER rating with upgrades for these units is an A2. Should the whole block be upgraded at some stage with the recommended upgrades, the BER ratings of all 6 apartments would improve by at least 7 BER ratings, ALLOWING MARKET RENTS TO APPLY TO THE UPGRADED PROPERTIES. The BER assessor confirmed that currently there are €59,700 of SEAI grants available for upgrades to this block. External Wall Insulation grant value of €3,000 per apartment, Total = €18,000 Attic insulation grant value of €800 per Top floor apartment, Total = €2,400 Solar PV grant value of €1800 for a 2kWp solar panels per apartment Total = €10,800 Air to Water heat pump system grant value of €4,500 per apartment, Total = €27,000 Technical Assessment and BER cost of €250 per apartment, Total = €1,500 Total grant funding available under the Better Energy Homes = €59,700 PROPOSED LOCAL DEVELOPMENT St Conleths Apartments opens out onto St Conleths Carpark located beside St Conleths GAA county grounds. Kildare County Council have also selected this area to house the new Civic Space/Town Square as part of a cultural quarter redevelopment. They are proposing the development of a hotel and office developments within this area as well as new civic space. Next Door to the subject property are the Bord Na Mona complex. There are plans to open these grounds up for East West pedestrian access from the Whitewater Shopping centre through to the new proposed Civic Spaces and St Conleths Apartments. Just off Main Street beside the Town Hall, Saint Conleth€TM Park GAA pitch, the GAA surface carpark & Bord na Mé³na€TM headquarters. From informal discussions with Kildare County Council Planning Department in 2017, a third storey of 3 x 1-bed apartments should be acceptable. Given the planned developments for the carpark, stadium and Bord Na Mona HQ and the likely vehicle access restrictions for the apartments€TMown carpark spaces, a significantly denser development of the site may be permitted. Kildare GAA are due to commence redevelop of the adjacent County Stadium in 2022. Bord na Mé³na have submitted plans to open their campus to the public after 200 years with some major development including building a new 4-storey HQ adjacent to the apartment site and opening up a walkway behind the apartment site from the GAA carpark to the Whitewater Shopping Centre. Kildare County Council have also published plans for a €Cultural and Civic Quarter€TMcentred on the development of the adjacent GAA carpark. The proposals envisage a town plaza, a 4-storey hotel & a 4-storey commercial building, together with the redeveloped GAA stadium, the Bord na Mé³na development and the walkway from this central plaza directly to the Whitewater Shopping Centre. THE LOCATION Currently this fantastic Freehold development is 1 minutes walk from the Whitewater Shopping Centre, Pennys, Newbridge Main Street as well as schools churches, supermarkets and lots more. The Liffey Linear park is 1 minute away and Newbridge train with direct lines to heuston and Connolly Train Stations is five minutes walk. BER RATINGS: Apartment 1: BER D2 / BER No. 100719624 Apartment 2: BER D2 / BER No. 101177897 Apartment 3: BER E2 / BER No. 107179954 Apartment 4: BER F / BER No. 107180234 Apartment 5: BER E1 / BER No. 107903916 Apartment 6: BER E1 / BER No. 106101082 TO VIEW OR MAKE A BID Contact Byrne Malone Estate Agents or iamsold. Auctioneers Comments: This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale. Note: These particulars, whilst believed to be accurate, are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection, measurement or otherwise as to their accuracy. No person in this firm's employment has the authority to make or give any representation or warranty in respect of the property. Properties may be sold via online auction auction and bids made prior the auction may be accepted by the vendors. iamsold and our partner auctioneer will share relevant personal information and transactional updates with each other so that we can effectively market and sell properties including the arrangement of viewings and follow up.
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Gerrard Desmond

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