In a novel departure, Michael Cotter's Park Developments has opted to buck the current docklands trend towards block sales of multi-unit developments and bring 40 apartments at Hanover Court, Dublin 2 to the market for individual sale.
It's an interesting move in the midst of the current private rental sector boom, in particular when just last year Park sold a hotly anticipated 262-unit apartment scheme in one transaction to Irish Life Investment Managers (ILIM) for €100million on a site formerly owned by Notre Dame school in Churchtown, Co Dublin.
Located at the very south end of the basin side of Capital Dock and to the rear of Park’s high profile Reflector building, the Hanover Court scheme is bound to generate strong interest as this docklands basin neighbourhood nears completion. This is one of the few newly built residential developments currently available for sale in the area.
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Now complete, Hanover Court comprises 40 one-, two- and three-bed apartments and is likely to appeal to individual investors and professionals seeking a base in Dublin's newest city centre location. The Marker Hotel, Bord Gáis Energy Theatre, Aviva Stadium and 3 Arena are all on the doorstep. Arranged in an L-shape over seven floors all the units are A-rated with dual aspect and generous height ceilings.
Two two-bed showhouses have been decorated to distinctly different designs by North Design and Interiors Atelier. All of the units have glazed elevations and their own balcony or terrace, and depending on where the unit is located in the building some will enjoy Liffey views though not quite as expansive as those from the offices to the front of the building. One two-bed penthouse takes in a lovely sweep from Tom Clarke bridge to the lockkeeper’s house in Ringsend and the Dublin mountains in the distance.
Custom kitchens and utilities come with Neff appliances, all bedrooms have built in wardrobes, and bathrooms and en suites are tiled with marble floors. The A-rated energy efficiency delivers instantaneous hot water, app controlled heating and recessed LED downlighters. While walls, ceilings and doors are painted throughout, buyers will need to source their own flooring. All apartments have access to a nicely landscaped and private ground floor courtyard and a rooftop garden.
Sizes for the one-beds range from 592sq ft to 710sq ft, with prices starting at €495,000. Sizes for two beds start at 861 sq ft to 1,116 sq ft and are priced from €685,000, while the three bedroom apartments, which measure 1,131sq ft to 1,342sq ft, are priced from €830,000.
Hanover Court has not gone down the road of fully serviced living with added frills like a concierge service, shared gym, meeting or entertainment facilities. There is one underground car space available with every unit, and the annual management fee is set at €2.60 per sq ft – that’s about €2,340 for a 900sq ft two bed.
All 123,250sq ft of The Reflector building office space is now almost fully let to a series of international occupiers including web designers Wix and software provider LogMeIn. Its most recent tenant Airbnb leased more than 3,715sq m (40,000sq ft) of space there in January beside its existing European headquarters building.
