Tralee Town CentrePOA For Sale 4,591.62 sqm approx
For Sale – 52 x 4 Bed Apartments (208 en-suite bedrooms), 2 x Office Suites and 390 Space Multi Storey Car Park
Cushman & Wakefield are delighted to present, Tralee Town Centre, an excellent investment opportunity to acquire 52 apartment units (208 en-suite bedrooms), 2 office suites and a 390 space multi storey car park in a strong regional location in Tralee Co. Kerry.
- The majority of the scheme is currently in use as student accommodation and a holiday apartment village (outside the academic year) having originally being constructed c.1994/1995.
- The owners of Tralee Town Centre Apartments have a rolling yearly contract with Munster Technological University (MTU) for the majority of the apartments to house their international students.
- The apartments produced a gross income of €719,000 in 2022 and enjoyed occupancy levels of close to 100% throughout the academic year.
- The car park provides 390 car parking spaces over 5-stories and provided a gross revenue in 2022 of €227,000. The car park also holds a telecom mast with a 15-year lease earning €14,000 per annum. This agreement is currently in its second year.
- The projected income across all three income streams for 2023 is €1,044,000
- BER range from C1-D1
- The subject property is available in 3 Lotss:
- Lot 1: Apartments - €6,250,000
- Lot 2: Multi Storey Car Park - €1,250,000
- Lot 3: Entire - €7,500,000
The dataroom can be accessed here – www.traleetowncentre.com