DNG Maxwell Heaslip & Leonard and joint agent BNP Paribas Real Estate have been instructed to offer a portfolio of 13houses for sale, in what is considered to be one of the most attractive residential investment opportunities to come to the Galway market in recent years.
Located in Roscam on the immediate eastern outskirts of the city, the portfolio comprises 13 mixed residential units with four detached, four mid-terrace, and three end-terrace two storey houses being offered for sale by private treaty in one holding.
Built in the early 2000s, the houses form part of the small Garraí Sheáin estate, which contains just 28 houses ranging in size from a two bed mid-terrace of 75sq m to the larger four bedroom detached at 125sq m. While most of the houses are in good condition, they would benefit from some upgrading, but most of the work would appear to be of a cosmetic nature.
All bar one of the houses, are being sold with vacant possession, with an estimated combined rental income in the region of €235,000 per annum. This represents a gross yield of c8.7 per cent based on the agent's guide price.
The Roscam portfolio properties are located on the eastern outskirts of the city, approximately 6km from Galway city centre. A residential hub with all amenities close by, Roscam offers direct connectivity to numerous business centres including Briarhill Business Park, Parkmore Industrial Estate, and Ballybrit Technology Park. The M6 Galway-Dublin motorway and N67 Limerick/Cork road are both readily accessible.
James Heaslip, residential sales director, said: "This is an excellent opportunity to acquire 13 mixed house types in a well established residential location on the immediate outskirts of Galway city. A purchaser may look to renovate and hold the units for rental use, or just refurbish and sell off the individual properties over a period of time. We certainly believe this represents value for money and would be great acquisition for those looking to expand their residential holdings.”
DNG Maxwell Heaslip & Leonard and BNP Paribas Real Estate are quoting a sales price in the region of €2.7 million for the Roscam portfolio. Full particulars are available on request by contacting Damien McCaffrey at 01 6611233 or James Heaslip at 091 565261.