Agents Knight Frank is guiding €2.3 million for a country house and stables in Leixlip, Co Kildare, which have been converted into 21 residential units and are currently producing an annual rental income of €250,000.
Newtown Hill House lies within the Dublin commuter belt but is also within easy distance of a range of multi-national companies based in Co Kildare including Intel and Hewlett Packard.
The residential units are located in the period house and also in three adjoining blocks which were recently developed. The main house and two annexes with a floor area of 509 sq m (5,479 sq ft) have been restored and converted into four self contained units.
A modern two-storey block known as The Stable Yard has been laid out in ten separate homes while the split-level Barn Yard has a further four units. Separately, the owners have built three two-storey houses on the 2.9 acre grounds, ranging in size from 69 sq m (743 sq ft) TO 89 sq m (958 sq ft).
Richard Bielenberg of Knight Frank said most of the tenants in the 21 residential units are working in the thriving local technology and manufacturing sectors and the likelihood was that these industries would continue to generate business for Newtown Hill House.
The zoning on the site provides for the preservation and improvement of the residential amenity “and to provide for further infill residential development at a density considered to be suitable to the area.”
