€2m-plus value on residential lots

These seven modern apartments at 38 Mary Street are in a new-build complex around a courtyard with rental income of €65,000.

Four apartments in a block at 2011 Cois Coille scheme in Woodhill, Tivoli.

A broad range of 20 residential property investments guiding just over €2m, plus one Kinsale retail offer, come to market for a receiver via agent Niall Cahalane.

The majority were built in the 2000s and are in good order, have rental income and locations span Cork city centre, Tivoli, Kinsale and Midleton. Very considerable interest is expected given the quality of the builds, prices ranging upwards from €55,000 to €550,000, and the mix of lot sizes.

Acting on instruction from receiver Ned Murphy of Moore Stephens Nathan on South Mall, the Cahalane Skuse agent has the mix available by private treaty. Most valuable on a per unit basis are the four apartments, Nos 3,4, 9 and 11 in one central block, all with independent access at the Cois Coille scheme in Woodhill, Tivoli, built in 2001.

Very high quality, and south-facing overlooking the River Lee by the Skew Bridge, they have 1,000 sq ft each, one the bedrooms in each is en suite, there’s gas heating, all four are furnished, producing €11,400 pa, and management fees are €1,500 each pa. Guide price per two-bed units is €138,000.

Back in Cork city centre, Niall Cahalane has seven modern apartments at 38 Mary Street, in a new-build complex around a courtyard. Mid-terraced and well-built, No 38 Mary Street has five two-beds, about 580 sq ft each, and two one-beds of 450 sq ft, with electric heating. Current rental income is €65,000, and there’s no management fees. Guide price for the seven units is €550,000. Also in the city centre are two, two-bed 650 sq ft apartments in Camden Court, by the Christy Ring Bridge. They are about 650 sq ft each, and they’re priced at €78,000, and are renting at €9,600 pa.

In Kinsale, the same receivership bundle includes a 700 sq ft retail unit at 14 Market Place, currently leased to a fish shop at €12,600 pa, and asking price is €120,000. That Market Street run of buildings has two, one-bed compact apartments less than 400 sq ft, renting at €4,800 pa and No 11a and No 12a are each guided at €55,000.

In Midleton, Cahalane Skuse have five residential investments, at The Granary, Castleredmond, and at the Maltings, Ballinacurra. They range from two-bed duplex apartments and townhouses to three and four bed terraced townhouses, from 690 to 1,300 sq ft, and prices from €62,000 to €157,000.

Details: Cahalane Skuse, 021-4279179.