For Sale by Online Auction on Thursday 1st October 2020 via youbid.ie
O'Connor Murphy bring to the market the sale of 13 spacious three bedroom apartments of circa 62 sqm each located within Thomond Village Student Complex. The apartments offer bright and spacious layouts comprising three bedrooms (two ensuite) with secure fob access, an open plan living dining and kitchen area as well as a main bathroom and storage closet. An ideal investment opportunity as the complex enjoys a superb location just a short distance from the Limerick Institute of Technology.
The sale comprises eleven standard three bedrooms apartments and two corner units. (Apartments 7, 7A, 12A, 15, 17A, 18A, 22A, 23A, 42, 71, 71A, 91A, 92A).
We have been informed by them Management Company that The Student Village operates under a Pooled Rental Scheme. 2019/2020 Annual Income was €6.000 net per property. Total Rent €78,000 per annum
Thomond Village, a purpose built student complex comprising circa 190 apartments in total, is well maintained throughout and offers a number of additional on site features such Staffed Reception Area, Communal Laundrette, Games Room, Shuttle bus to LIT as well as ample parking within the gated grounds and 24 hour onsite security.
The apartments are situated at either ground or first floor level. The first floor apartments have a small balcony area which is accessed off the kitchen/ living. The accommodation is provided fully furnished and each unit includes an open plan kitchen, living and dining area. Access to the first floors is via external or internal staircase.
Thomond Village offers:
• Individual apartments with 2/4/6 large study bedrooms with ensuite bathrooms, fully fitted kitchen/living room and a comfortable lounge area
• Accommodation for students with impaired mobility
• Accommodation for students with families
• Electric heating
• Cable television
• High speed internet connection via UL network
• Direct dial telephone facility - with use of phone cards
• Weekly refuse collection
• Full access to UL Sport gym & swimming pool
• Complimentary refuse sacks and light bulbs
• Full maintenance service
• Regular security patrols at night
• Enclosed areas for bicycles
• Plus Residential Village Manager
Thomond Village Development is located off the Old Cratloe Road, circa 5km north of Limerick City Centre, 1km from Limerick Institute of Technology and
Thomond Park Stadium. The Village offers a shuttle bus service to the college regularly throughout the day and there is a bus stop situated circa 500 metres from the complex servicing the city centre.
Limerick City is a vibrant city with a strong high street and thriving city centre, numerous shopping centre, bars, restaurants and other leisure and cultural
facilities. It is also home to over 35,000 students who are enrolled in a number of third level and higher education institutions, the largest being University
College Limerick and Limerick Institute of Technology. As the third largest city in Ireland the combined city and county population is estimated to be circa 192,000 with approximately 96,000 living within the city and suburbs. The main national road network surrounds the city centre and joins the Limerick to Ennis/Galway road with the M7 motorway linking Limerick with Dublin. As the third largest city in Ireland the combined city and county population is estimated to be circa 192,000 with approximately 96,000 living within the city and suburbs.
• Residential student accommodation investment opportunity
• Strong potential to increase annual rent and capital appreciation
• The investment comprises 13 apartments (39 bed spaces) with surface car parking
• All apartments include 3 bedrooms, 3 bathrooms
• 6,900 students in Limerick Institute of Technology.
• Under supply of student accommodation in the area.
• Thomond Village is located adjacent to the planned new link road from Coonagh roundabout to Cratloe Road
• Limerick Institute of Technology recently purchased the remaining development of Coonagh Shopping Centre for the purpose of expanding their faculties
This auction is now closed.
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