prime residential investment at the liffey trust building ... - MyHome.ie

LT
PRIME RESIDENTIAL INVESTMENT AT
THE LIFFEY TRUST BUILDING, DUBLIN DOCKLANDS, D1
www.liffeytrustinvestment.ie

East Link
Bridge
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The O2
Grand Canal Dock
Waterways
Visitors Centre
Grand Canal
Station
Odeon
Cinema
The Point
Gibson
Hotel
Merrion Square
River Liffey
Bord Gáis
Energy Theatre
New Central Bank
of Ireland HQ
St Stephenʼs
Green
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Leinster House
(Parliament)
National
Gallery
Samuel
Beckett
Bridge
Pearse
Station
Convention
Centre
Dublin
Trinity College
Central
Square
National
College of
Ireland
Mayor
Square
IFSC
Irish financial
Services Centre

INVESTMENT SUMMARY
Bulk investment opportunity comprising 81 apartments & duplex units and 68 carspaces.
72 of the apartments are private and 9 are allocated for affordable Part V units.
Strategic location adjacent to the renowned International Financial Services Centre (IFSC),
the Convention Centre Dublin and Grand Canal Dock area.
Unrivalled accessibility and facilities, being on the Luas Red Line and close to the
Docklands Train Station, and within easy walking distance of a host of amenities including
parks, cafes / restaurants and theatres.
Situated within high specification development completed in 2009, with the units fitted to a
very high standard.
Exceptionally strong residential letting demand – 100% occupancy of the apartments
offered for letting.
Mix of Irish & international corporate & private lettings, including Facebook personnel.
Two bedroom apartments & duplex units currently achieving €1,200 - €1,500 per month;
one bedroom units €1,000 per month.
Opportunity to acquire a prime income producing investment in a dynamic city centre location.
A prime residential investment in the heart of Dublin Docklands.
Dublin International Airport - approx. 15mins via Port Tunnel.
COURTYARD EXTERIOR SEATING AREAS
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liffey trust

LOCAL AREA PHOTOGRAPHS

A DYNAMIC HUB
FOR WORKING & LIVING
The apartments enjoy an excellent strategic location, situated on a prominent
corner in Dublin’s North Docklands close to the dynamic dockland quarters at
IFSC, CHQ and Grand Canal Docks and only a short walk to the city centre.
The location is excellently served by private and public transport,
including the following which are close by:
Luas Red Line – The Point Stop - 2 minutes walk
Docklands Commuter Rail Station – 2 minutes walk
Port Tunnel – approx. 3 minutes drive
East Link Bridge – approx. 2 minutes drive
Grand Canal Dock & south city – 4/5 minutes walk (via Samuel Beckett Bridge)
Dublin Airport - approximately 15 minutes drive via Port Tunnel
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BORD GAIS ENERGY THEATRE THE POINT LUAS TERMINAL THE CONVENTION CENTRE DUBLIN
SEAN O CASEY BRIDGE GIBSON HOTEL NATIONAL COLLEGE OF IRELAND

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THE LIFFEY TRUST BUILDING
The Liffey Trust Building comprises a landmark 8 storey over basement mixed use development
situated in a prominent position in the North Docklands, close to The O2 venue. The building
incorporates retail and commercial use at ground and 1st floor level, including the Liffey Trust
Enterprise Centre, a performing arts school and The Green Room Bar.
The residential accommodation comprising 96 units is arranged on the upper 6 floors around a large
landscaped podium garden. They are set out in two blocks from which all apartments are accessed
off open walkways.
Internally, the apartments which are all generously proportioned, are in excellent condition, many
having been recently redecorated / re-fitted prior to letting.
The subject of this sale is 81 residential units and 68 car spaces within the Liffey Trust Building.
The balance of the residential is under separate ownership.
Specification
Large landscaped podium courtyard from which all apartments are accessed
3 lifts serving all floors
All apartments are dual aspect and all have good sized balconies
Ample storage space in each apartment
En-suite master bedroom in all 2 bedroom apartments
Security intercom system throughout
High quality fitted kitchens and bathrooms
High grade finishes and fit-out throughout
DESIGNER KITCHENS STYLISH DESIGN BRIGHT INTERIORS

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THE INTERNAL COURTYARD OF THE LIFFEY TRUST BUILDING

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THE INVESTMENT OPPORTUNITY
81 LIFFEY TRUST APARTMENTS
The subject property comprises 81 residential units. Under the terms of the planning permission 9 of
the units have been allocated as Part V affordable units to be sold to the Local Authority (Dublin
Docklands Development Authority). However, no sale has yet been transacted and the incoming
purchaser is inheriting an obligation to deal with DDDA on this matter.
74 of the 81 residential units are two bedroom apartments and duplex units; 6 are one bedroom duplex
apartments and there is one three bedroom duplex unit.
Apartment Type
2 bedroom apartments
2 bedroom duplex
1 bedroom duplex
3 bedroom duplex
Plus 68 Basement Carspaces
Plan Type
A & B
C
D
E
Quantity
HIGH QUALITY EXTERNAL FINISHES STYLISH BEDROOMS MANY WITH BALCONIES CONTEMPORARY SPECIFICATIONS
54
20
6
1
Approx. Sq.m.
68 - 74
73
55
128
Approx. Sq.ft.
730 - 800
785
590
1,375

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TYPICAL APARTMENT INTERIORS AT THE LIFFEY TRUST BUILDING

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Balcony
1.58m x 7.28m
Central Courtyard
TYPE A
2 Bedroom Apartment
c.74 sq.m / 800 sq.ft
EXCLUDES BALCONY
TYPE B
2 Bedroom Apartment
c.68 sq.m / 732 sq.ft
EXCLUDES BALCONY
TYPICAL
APARTMENT
LAYOUTS
Full set of floorplans available at www.liffeytrustinvestment.ie
Balcony
1.6m x 7.42m

Balcony
1.61m x 3.57m
Balcony 0.42m x 3.45m
TYPE C
2 Bedroom Duplex Unit
c.73 sq.m / 786 sq.ft
EXCLUDES BALCONY
TYPE D
1 Bedroom
Duplex Unit
c.55 sq.m / 590 sq.ft
EXCLUDES BALCONY
Balcony
4.85m x 3.55m
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Balcony
1.93m x 3.65m

SAMUEL BECKETT BRIDGE
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CHQ BUILDING
LIFFEY TRUST BUILDING POINT VILLAGE MARKET

TENANCY DETAILS
Current rental levels:
- Range from €1,200 - €1,500 per month for two bedroom apartments & duplex units.
- €1,000 per month for 1 bedroom units
- €1,650 for the 3 bedroom unit.
The majority of the apartments are let on standard residential tenancy agreements.
100% occupancy of all apartments that have been offered to let.
Strong tenant calibre, being a mix of corporate and private / professional individuals.
Exceptional letting demand with units typically letting within 7-10 days of availability.
The tenancy management and lettings are efficiently carried out by Hooke & MacDonald Asset Management.
TENURE
Title to the subject apartments and the car parking spaces shall be held following disposal under
a 900 year lease commencing on 1st January 2008.
ESTATE MANAGEMENT
The subject units form part of the Liffey Trust development and the common areas of development come under the
ownership of the management company, LT Docklands Management Company Ltd. The Liffey Trust Ltd has been
managing the development since its completion.
Current annual service charges on the respective unit types are as follows;
One bedroom unit €1,535
Two bedroom unit €1,720
Three bedroom unit €1,904
Carspaces €185
VAT
We understand that the property is elected for VAT.
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THE LETTING MARKET
“
The residential rental market in Dublin grew in
2011 with a 0.8% increase in rental values.
Supply of rental property is now at its lowest in 3
years. Dublin rents should remain stable over the
next 2-3 years.
The rental market has stabilised in Dublin which
is helping to underpin prices, there is evidence of
an urban-rural divide. The rental market has gained support
from a reduction in the number of properties to rent. Daft.ie
currently advertises less than 17,000 properties nationally
compared to a peak of 24,000 in July 2009. However, Daft.ie
also highlights the urban-rural divide, reporting a year-onyear
rise in rents in Cork and Dublin this year but that rents
outside the main cities continued to fall.
475,000 people were renting in Ireland on Census Night
2011. This is a significant increase since Census 2006 when
just 300,000 households were renting.
32% of the Dublin population are now in rented
accommodation. The increase in households renting is
concentrated mainly among people in the 28-35 age group.
The boom in apartment building over the last decade
modernised the stock of available rental accommodation
since most of the apartments were purchased by investors.
Now that new construction has virtually ground to a halt there
The quality of the residential units
in the Liffey Trust Building, combined
with the prime city centre location
has attracted high calibre tenants
at excellent rents.
”
is no new supply chain for this sector. This in turn is
putting pressure on rental levels especially in Dublin and
other urban areas.
There is strong demand for good quality well-presented 1,
2 & 3 bedroom apartments throughout the city, particularly
in central Dublin and suburban areas well served by
public transport. Family homes are also in good demand
in established suburban locations.
The continuing contraction of construction and supply of
good quality houses & apartments will inevitably cause
rents to continue to rise especially in Dublin and other
cities. This in turn will benefit yields and prices opening
the possibility for some new construction to commence to
meet demand.
The quality of the residential units in the Liffey Trust
Building, combined with the prime city centre location has
attracted high calibre tenants at excellent rents.

LOCAL AREA PHOTOGRAPHS
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Selling Agent
+353 (0)1 63 18 403
Hooke & MacDonald,
118 Lower Baggot Street,
Dublin 2.
Tel: +353 1 63 18 403
Fax +353 1 67 66 340
Email: commercial@hookemacdonald.ie
Contact
David Cantwell davidc@hookemacdonald.ie +353 86 2563852
Enda Moore endam@hookemacdonald.ie +353 86 2556445
Gavin Hanlon gavin@hookemacdonald.ie +353 86 2381388
Donald MacDonald donald@hookemacdonald.ie +353 87 2070283
Solicitors
Byrne Wallace.
88 Harcourt Street,
Dublin 2, Ireland
Tel: +353 1 691 5000
Fax: +353 1 691 5010
Email: info@byrnewallace.com
Viewing: Strictly by prior appointment with the sole selling agent.
For further details please visit www.liffeytrustinvestment.ie
These particulars are for guidance purposes only, do not form part of any contract and should not be relied upon as statements of fact. The Vendor, their advisors and Hooke & MacDonald (and associated companies) shall
not be held responsible for any inaccuracies. All maps, measurements and distances stated are approximate and are provided for identification purposes only. Any reference to residential unit measurements estimate
approximate Gross Internal Area (GIA), the total area measured from internal block work excluding all internal finishes, which is the commonly accepted method of measurement for residential units. Residential unit
measurements have been provided to us by either the relevant architect or client and it should be noted that variation with finished residential unit measurement may occur. Intending purchasers must satisfy themselves as to
the accuracy of details given verbally or in written form. No employee in Hooke & MacDonald has the authority to make or give representations of warranty in relation to this property. Ordnance Survey Licence No. AU0009510
Ordnance Survey Ireland & Government of Ireland
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Map of Docklands and Corporate Occupiers
DESIGN BY Archimmeeddium www.archimedium.com TEL +353 (0)45 878066