6A, 6B & 6C Preaching Lane, Athlone West, Westmeath

€500,000

Beds
Price	€500,000
Property Type	Investment Property
Size	216 meters²
Energy Rating	BER-C2
Refreshed on	Sep 16, 2024
Eircode

Description

Summary A Secure Long-Term Residential Investment Comprising 3 x Two Bedroom Refurbished Townhouses All Let to Peter McVerry Trust (PMVT) 3 x 25 Yr Terms from Sept '22 (No Breaks) Total Nett. Rent Passing €31,911 p.a. Initial Yield 6.38% HICP Rent Reviews Every 3 Yrs, Next Due Sept '25 Guide Price €500,000 Location The properties are ideally situated within Athlone Town Centre, to the western side of Preaching Lane, a short walk from Golden Island Shopping Centre & Athlone Town Centre; Radisson Blu Athlone is also within direct proximity. The properties are well serviced by public transport, bus services are available from Northgate Street at the property's doorstep, whilst Irish Rail services run from Athlone Station approximately 800m northwest of the property (c.11 mins walk). About The property comprises 3 x adjoining townhouses benefitting from a full refurbishment and upgrading in 2022. Each house extends to approximately 72 sq. m (775 sq. ft). The houses are let on three concurrent 25-year lease agreements to Peter McVerry Trust, a schedule of accommodation and tenancies is set out below, internal inspection photos and copies of leases are available upon request. Tenancy Each of the properties is let to Peter McVerry Trust on a 25-year term from September 2022 at an annual rent of €11,040 individually and a combined gross rent of €33,120 per annum. There is no break clause within any of the subject leases. HICP rent reviews every 3 years, next review is due Sept '25. Disclaimer The particulars of sale and brochure have been prepared by Artis Property Management Ltd on behalf of the Vendor. The content within the sales particulars, brochure, and any advertisements produced by third parties are for guidance purposes only, as such Artis is not held liable for any inaccuracies. Prospective bidders should note that maps are not to scale, and any figures quoted such as but not limited to measurements, distances, rents paid/payable, and dimensions are approximate, and quoted on the understanding that the prospective bidder will undertake their own due diligence to verify such matters. For the avoidance of doubt, this brochure and any related marketing materials will not form part of any Contract for Sale. All Guide and Sale Prices quoted are exclusive of VAT unless otherwise stated. In the event that the subject property is listed for sale via auction, then the sale is as scheduled unless sold prior or otherwise withdrawn. The scheduled auction date and time may be subject to change. Auction guide prices are set as an indication of where the reserve is set, the reserve price is the minimum price at which the property can be sold at the auction. The reserve be may set separately to the guide price, both the reserve price and guide price are subject to the change. Artis PSRA Licence Number: 004063

BER Details

BER: C2 BER No.104085303 Energy Performance Indicator:195.57 kWh/m²/yr

Description

BER Details

BER: C2 BER No.104085303 Energy Performance Indicator:195.57 kWh/m²/yr