Apartment 35 Penrose Court

• Tenants in situ under City Council long term lease
• Excellent condition
• City Centre location
• Electric heating

2 Bedroom apartment for sale at Penrose Court, Anne Street, Waterford - Long-Term Lease with Waterford City Council | Excellent Condition

Property Description
An opportunity to purchase an apartment in Penrose Court, Waterford City, in a convenient central location within walking distance of the city centre, shops, cafés, restaurants, public transport, and the riverfront.

The apartment is in excellent condition and is well maintained by the current tenant. No 35 comprises an open plan kitchen/diner and lounge area, two bedrooms with the main en suite, and a main bathroom with shower and bath. The complex also benefits from lifts, providing convenient access between floors.

Long-Term Leasing Agreement
The property is currently subject to a 20-year Long-Term Leasing Agreement with Waterford City Council (WCCC). The lease commenced five years ago, with 15 years remaining, subject to confirmation of the lease dates and terms.

Rental Details

• Annual rental income: €12,000
• Apx. gross yield of 9%

Asking Price: €135,000

This property may appeal to investors seeking an established rental arrangement with a local authority, along with a well-maintained apartment.
The sale is subject to the existing lease. Buyers should have their solicitor confirm the lease terms, transfer arrangements, remaining term, and the respective responsibilities of the owner and council before proceeding.

Further information and lease documentation are available to genuinely interested parties.

Enquiries welcome.

Note: These particulars are given on the understanding that they will not be construed as part of a contract, conveyance, or lease, and that all negotiations take place through Manor Properties. Whilst every care is taken in the complying of the aforementioned information, the information is not guaranteed, and enquirers must therefore satisfy themselves regarding all particulars.