Investment for €450,000
An investment opportunity for a partly let development which is generating €67,340 a year has come to the market in New Ross, Co Wexford.
The mixed-use development known as Irishtown Villas has a €450,000 guide price. It consists of two ground-floor retail outlets, five apartments and four townhouses with a combined floor area of 1068sqm spread over two storeys.
The residential units are situated around a gated, cobble-lock courtyard which provides parking for tenants. All these homes are leased to Wexford County Council on 20-year and nine-month lease dated from 2008 and are paying a rent of €67,340.
Located on each side of the gates, both retail outlets are being sold with vacant possession. Situated in Irishtown on the outskirts of New Ross, Irishtown Villas lies within 100 metres from the Outer Ring road and is adjacent to Irishtown Heights and St Mary's secondary school.
The area is heavily populated with a number of residential developments. The agents Sherry FitzGerald John Rohan point out that the premises commands a prominent trading position.