Bloomfield Park DONNYBROOK, DUBLIN 4
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For Sale by Private Treaty Multi-Family Investment Opportunity Bloomfield Park DONNYBROOK, DUBLIN 4
Bloomfield Park 2|3
Investment
Considerations
Multi-family investment comprising of 8 high end
two bed apartments within a primely located and
exclusive development.
BLOOMFIELD PARK
A portfolio of eight luxury
two-bedroom apartments
within the prestigious
Bloomfield Park development
Highly sought-after
residential location in the
prestigious Dublin 4
ully let with the exception
F
of one show apartment
Passing gross rent
is €156,000 from the
occupied units
Highly reversionary average
gross rent per month of
€1,857 in the occupied units
Reversionary potential
with average market rent
achieving €2,750 per
month in the local vicinity
Strong individual
re-sale values
Average apartment
size is 75 sq m
8 car parking spaces
Bloomfield Park 4|5
O’Connell
Upper N
Location
Connolly
Marlborough Busáras
T
LL S
W E
NNE
S
POINT
O 'C O
George's Dock
Mayor Square VILLAGE
Abbey Spencer Dock
O’Connell
Bloomfield Park is located within the Donnybrook is considered a prime residential and
commercial location with many foreign embassies and
Jervis
GPO
Street
The Point
Tara Street
prestigious suburb of Donnybrook, multinational headquarter buildings based within the
Smithfield
Four Courts RIVER
LIFFEY
immediate vicinity. Local commercial occupiers include high Westmoreland
Dublin 4 and just 1.6km south of profile firms such as Amazon, Groupon, Morgan McKinley TEMPLE Trinity
BAR
St. Stephen’s Green. and Allied Irish Bank making it an attractive location for the
private residential rental market. Trinity College
2.5KM
G RA
Pearse ND C
ANA RINGSEND
N ST
L ST L
OW E
R
Donnybrook offers a wide range of services and amenities
F TO
G RA
including Donnybrook Lawn Tennis Club, Donnybrook Dawson
Stadium, as well as a selection of shops, restaurants
ST
Ringsend Park
RE
THE COOMBE
DA
and cafes. Residents and tenants of the Bloomfield Park Merrion
K IL
Square 2KM
development benefit from its proximity to Dublin City St.Stephen's
Green
Grand Canal Dock
MO
Centre and all the amenities that it has to offer. UN
TS
TL
St Stephen's Green OW
T LW R
ER
BATH AV E
S IL S
B
EA
B R AS
CH
RD
LOWE R
C LA N
Fitzwilliam
NO
RY ST
Square
LOCAL OCCUPIERS
RTH
CA MD EN ST
Iveagh
UM
Gardens
HE YT ES BU
1KM
BE
RL
AN
Lansdowne Road
LE R D
Harcourt
DR
PE M B
D
ROKE
RD
SHELBOURNE RD
NVI L
RD
S P IL
ME
I TO
S CIRC ULA R RD
TR
SAN
Charlemont BALLSBRIDGE
GROVE RD
Dublin Port
RANELAGH DE
RD
Grafton Street Central Bank C LY
Trinity College IFSC
Sandymount
Grand Canal Dock Bloomfield
R
Merrion Square
RD LOWE
AY
St. Stephen’s Green W Herbert Park
AP
PI
AN
Park
Ranelagh
S
RATH MI NE
Aviva Stadium
D
NR
STO
LE
AR SA
CH N K
Clayton Hotel Ballsbridge D
FO PA
R
M
RD
ER
RD RT
E
RI
RY
RD
RB
O
SB U
E
N
H
RD
Embassy of USA
R EW
RATHMINES
SH
Fitzwilliam Lawn Beechwood
Tennis Club
Embassy of Portugal DONNYBROOK
D
RR
GA
RY RD
AILES BU
TH
RA
Herbert Park EGLINTON R D
Bloomfield
Park TRANSPORT LINKS Bloomfield Park is located just off the
W
RO
Royal Hospital Donnybrook Milltown
R
exclusive Morehampton Road, directly
E
Park
AV
Cowper
BE
behind the Hamptons Hotel, equidistant
Donnybrook
The area also has the benefit of excellent transport from both Leeson Street Bridge and
Donnybrook Village. The immediate vicinity
infrastructure and public transport links. provides access to a depth of transport links
with both the DART and Cross City Luas
D RD
F IE L
H IG H
within walking distance.
E RD
NUR
TE R E CLONSKEAGH
DARTRY Milltown
MILLTOWN RD
Bloomfield Park 6|7
Asset Bloomfield Park is an exclusive residential scheme
constructed in 2005. Overall, the development comprises
Overview of 188 residential units of which eight are being offered
for sale in this multi-family investment opportunity.
INCOME SUMMARY
€1,857 €2,750
Average Passing Rent Average Market Rent
€156,000 €108,000
Current Gross Rent Potential Rental Uplift
Bloomfield Park 8|9
Accommodation
Schedule
The portfolio comprises of eight two-bedroom
apartments at an average size of approx. 810 sq ft.
The scheme is designed around landscaped
The subject units are dispersed throughout the
gardens with impressive water features and the scheme with four blocks each having lift access to
development benefits from an onsite creche. every floor and eight basement car parking spaces.
There is currently one vacant unit held for viewings
with the remaining seven currently let with the
existing tenants remaining in situ. Each unit offers
a spacious balcony overlooking impressive gardens.
Unit BER Bedrooms Size (Sq Ft) Occupancy Rent Annual ERV Annual ERV
64 B2 2 834 Vacant €€0 €€0 €€2,750 €€33,000
104 C1 2 845 Rented €€1,600 €€19,200 €€2,750 €€33,000
152 D1 2 845 Rented €€2,100 €€25,200 €€2,750 €€33,000
165 D2 2 769 Rented €€1,800 €€21,600 €€2,750 €€33,000
166 D2 2 791 Rented €€2,200 €€26,400 €€2,750 €€33,000
169 D2 2 768 Rented €€1,650 €€19,800 €€2,750 €€33,000
171 D2 2 791 Rented €€1,800 €€21,600 €€2,750 €€33,000
172 D2 2 838 Rented €€1,850 €€22,200 €€2,750 €€33,000
Total €€13,000 €€156,000 €€22,000 €€264,000
All prospective purchasers are specifically advised to satisfy themselves as to the accuracy of any measurements,
tenancy information, site areas referred to herein and undertake their own due diligence.
Bloomfield Park 10 | 11
Multi-Family Further
Market Information
ECONOMIC OVERVIEW R E N TA L G R OW T H F O R EC A S T S V AT P O S I T I O N O N S A L E
Please see project dataroom for VAT status.
Ireland continues to experience the fastest rate of economic growth in Rent controls were first introduced in Dublin in December
the EU with total output rising at an annual rate of 9.1%. Jobs growth
remains the catalyst for this expansion. More than 62,000 net new jobs
62,000 2016. Generally, these limit rental growth to a maximum
of 4% per annum. However, there are exemptions for
VIEWINGS
new jobs created in Viewings are strictly by appointment through
have been created in the last twelve months and total employment has the last twelve months
properties that have not been previously let within the last
the selling agent.
now surpassed its boom-time peak on a seasonally adjusted basis. two years and in the case of a substantial change in the
nature of accommodation provided by a landlord. These
SOLICITOR
legislative changes allow for the possibility of a divergence
between average rental growth rates and rental growth
rates on newly let or new build properties and appear to
explain why rental growth in Dublin continues to exceed the 33 Sir John Rogersons Quay
regulated growth rate of 4% per annum. Grand Canal Dock
R E S I D E N T I A L R E N TA L M A R K E T Dublin 2
Savills has developed rental growth forecasts on
In the early 2000s, approximately 12% of households Despite an increase in the overall stock of properties unencumbered newly let units which extend out to Q1 B E R D E TA I L S
in Dublin rented privately. During this period private in Dublin’s private rented sector (PRS), the number 2020, the results of which are summarised below; BER Nos. available on request.
renting was generally considered a secondary tenure of units that are available to rent has fallen sharply
Overall continued growth of 15.7% in Dublin residential Range of energy performance indicators:
that was mainly for young people transitioning towards since 2011 with vacancy now standing at just 1.31%
a longer-term goal of home ownership. (see Figure 1). This is significantly below the Natural rents is expected through the eight quarters Q2 2018 -
Vacancy Rate (NVR) which we econometrically Q1 2020.
More recently, however, strong house price inflation estimate to be 5.3% in the capital. Theory suggests SELLING AG E NTS
Average rental growth of 7.8% per annum is expected
and stricter mortgage lending have made home that if the actual vacancy rate lies beneath the NVR the on new lets over this period.
ownership less affordable. Along with changing market is undersupplied and rents will be rising, and
attitudes to renting, these dynamics have led to the Annual growth of 7.2% in rents on new lets is forecast
that’s exactly what is happening. Average residential
proportion of households renting privately in Dublin even at the furthest horizon of the forecast window in
rents in Dublin are currently rising by 7.8% per annum.
rising to over 24%. Q1 2020.
33 Molesworth Street
Figure 1: Vacancy Rate in Dublin’s Private Rented Sector Figure 2: Residential Rents Forecast - Dublin New Lets Dublin 2
savills.ie
10
Dessie Kilkenny
9 150
+353 1 618 1401
8 140 dessie.kilkenny@savills.ie
7 130
PSRA Licence: 002233-003108
Index: Q3 2007 = 100
6 120 John Earley
5 +353 1 618 1766
Dublin VR 110
john.earley@savills.ie
4
100 PSRA Licence: 002233-007379
3
Dublin NVR 90
2
80 bloomfieldparkdublin.com
1
70 The agents and the Vendor/Lessor give note that the particulars and information
% contained in this brochure do not form any part of any offer or contract and
are for guidance only. The particulars, descriptions, dimensions, references to
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condition, permissions or licences for use or occupation, access and any other
details, such as prices, rents or any other outgoings are for guidance only and
are subject to change. Maps and plans are not to scale and measurements are
approximate. Whilst care has been taken in the preparation of this brochure
intending purchasers, Lessees or any third party should not rely on particulars
and information contained in this brochure as statements of fact but must satisfy
Source: Savills Research Source: Savills Research themselves as to the accuracy of details given to them. Neither Savills nor any
of their employees have any authority to make or give any representation or
warranty (express or implied) in relation to the property and neither Savills nor
any of their employees nor the vendor or lessor shall be liable for any loss suffered
by an intending purchaser/lessees or any third party arising from the particulars
or information contained in this brochure. Prices quoted are exclusive of VAT
(unless otherwise stated) and all negotiations are conducted on the basis that
the purchasers/lessees shall be liable for any VAT arising on the transaction.
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