Munster Eye: Six counties, six apartments 

Munster Eye casts a look at apartments available across the south of the country
Munster Eye: Six counties, six apartments 

Earlier this year, we began a new series, Munster Eye, looking at specific house types on a given week across the six southern counties. 

It was an attempt to give readers a chance to see how far their money could go in different locations. 

We had barely got off the ground when a pandemic unseated us. 

Now, having dusted ourselves down, we're back - looking this week at apartments.

As back luck would have it, the re-launch coincides with a second lockdown, but we will soldier on, for now at least, on a fortnightly basis.

Lancaster Gate, Cork

Three luxury apartments in Lancaster Gate overlooking the River Lee are expected to appeal to investors or a buyer looking for quality living in Cork city.

Nos 53, 54 and 55 are in the Fastnet section of the O’Callaghan Properties (OCP) Western Road development and all have riverside and cityscape views.

On sale with Limerick auctioneers O’Connor Murphy, each has an open-plan living/dining/kitchen area that opens onto a balcony.

No 53, a three-bed, is listed for sale at €510,000; No 52, a one-bed has a price tag of €280,000 and No 55, a two-bed, is at €390,000.

They range in size from 50 sq m to 86 sq m and come with BERs of B2 and B3.

The Fastnet has 66 units in total.

O’Connor Murphy said the apartments offer “a unique riverside city living experience”.

All three properties, built in 2007, come with designated parking spaces in the underground car park at Lancaster Gate. St Patrick’s Street and UCC are a short walk away.

VERDICT: Slick city living.

North Circular Road, Limerick €185,000

If you’re looking for premium city centre living in Limerick, North Circular Road is your first port of call, followed by South Circular Road, says Gillian Dunne of DNG Cusack Dunne auctioneers.

Ms Dunne is selling No 30 Alandale Orchard, Ashbourne Avenue on South Circular Road, near Mary Immaculate teacher training college.

It’s a complex of duplexes and ground floor apartments, and No 30, a two-bed, with a sale price of €185,000, falls into the latter category. Residents of Alandale also have access to an unusual feature — a leafy walled garden.

With a C2 energy rating and measuring 74 sq m, No 30 has own door access, a private rear garden and parking for two cars. Indoors, the living area is open plan.

Ms Dunne says the apartments are “always popular with first-time buyers”. Equally, investors may be attracted to a rental yield of €1,200-€1,300 a month.

VERDICT: Popular address sure to attract interest.

Thurles, Co Tipperary €120,000

A key selling point for this two-bed apartment is its central location - it’s just five minutes from Thurles town centre and St Patrick’s College (teacher training) is a couple of hundred yards away.

Tipperary-based selling agent Peter Broderick of PJ Broderick & Co auctioneers describes No 3, St Mary’s Court as “a compact apartment (46.17 sq m) but in good nick”.

At €120,000, it will appeal, he believes, to a first time buyer or an investor, with a rental yield in the order of €700-€750 a month.

It’s essentially a one-bed, Mr Broderick says, with a kitchen/living area and separate sitting room and bathroom.

“It’s ready to go,” Mr Broderick says. “The current owner is relocating,” he says, adding that “it is hard to get something this central”.

VERDICT: Great location.

Ross Road, Killarney, Co Kerry €245,000

Built in the mid-noughties, No 6 Bunrower Court, Ross Road, Killarney is on “the best residential road in town”, according to selling agent Michael Coghlan of Sherry Fitzgerald Coghlan.

It’s in extremely good nick, having started out as the show-house in an eight-unit development in the mid-noughties and having operated since as a holiday home.

One of five apartments (the other three units are townhouses), it’s opposite Killarney National Park and down the road from Ross Castle, Mr Coghlan says.

“It’s immaculate, a lovely bright apartment in a private development within walking distance of Killarney Racecourse/golf course and all town-centre amenities,” he says.

Mr Coghlan says it would suit a couple as a first time home, or equally, it could continue as a holiday home or a retirement pad.

The €245,000 property measures 75.7 sq m and has a D1 energy rating. Accommodation includes two double bedrooms and two bathrooms (one is an ensuite) as well as a kitchen-cum-dining-cum sitting room. There’s also car parking.

VERDICT: Super apartment in a very central location.

Paddy Brownes Road, Waterford €100,000

The rental potential of this compact property, Apartment 3, Balcea House, on Paddy Brownes Road, Waterford City, is likely to attract an investor.

On the market for €100,000, it’s a well-maintained ground floor apartment with an open plan kitchen/sitting room and two bedrooms, one ensuite, as well as a main bathroom.

Petrina Walsh, selling agent with Purcell Properties, says it’s currently generating close to €1,000 per month and can be sold with a sitting tenant.

“It’s a super yield, it demonstrates how reasonable Waterford is for rental properties. Our prices are very competitive, and we see a lot of investors from Dublin because they recognise the value they are getting,” Ms Walsh says.

Apartment 3, at 480 sq ft and with a C3 energy rating, is close to Lisduggan Shopping Centre, various bars and restaurants and Waterford Institute of Technology.

Ms Walsh says it’s already generating interest, and not just as a student investment property.

“It’s an opportunity for people who have a bit of money sitting in a bank account and earning very little interest to make a good investment. It’s a no-brainer” Ms Walsh says.

VERDICT: Definite investor potential.

Shannon, Co Clare €125,000

Ryewood House apartments in Shannon, Co Clare, have an interesting backstory: they were originally built to accommodate Russian Aeroflot flight crews on a stopover in Shannon while their aircraft refuelled en route to Cuba.

“They are in a part of Shannon that was originally called ‘The Russian Village’,” says estate agent Fachtna O’Donovan, who is selling Apartment 7A, Ryewood House.

Mr O’Donovan, of Sherry Fitzgerald O’Donovan, says the apartments are in among privately-owned semi-Ds and are within walking distance of Shannon Town Centre and Eastpark Industrial Zone, which houses Intel and the IDA.

A two-bed, one bathroom home, with a C3 energy rating and measuring a compact 64 sq m, 7A is on the market for €125,000. It had been rented out previously and Mr O’Donovan says an investor could expect a yield in the order of €850-€900 per month. It would make a good home or an ideal investment property, he says.

7A is in a quiet cul de sac where apartments are split 50/50 between investors and owner/occupiers, Mr O’Donovan says.

He describes it as in good nick, fully refurbished with “a very good finish”.

Carparking is good in the area.

VERDICT: Strong rental demand in this location.

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