6 Grove Island, Corbally, Limerick
€175,000
4 Bed~4 Bath~103 m²~BER C3
What you'll like:
- Four ensuite bedrooms: The property features four dedicated bedrooms each with private bathroom facilities, maximizing appeal and privacy for student occupants during the academic term.
- Pooled rent scheme: Owners benefit from a structured management approach yielding a projected net income of approximately nine thousand six hundred euros annually, reducing hands-on landlord duties.
- Convenient local amenities: Situated directly beside a major shopping center offering a large supermarket, retail outlets, and a state-of-the-art leisure facility for tenant convenience.
- On-site professional management: The development includes a dedicated on-site manager and CCTV security systems, ensuring operational oversight and peace of mind for distant investors.
- Riverside setting: Located along the picturesque banks of the Abbey River, providing an attractive natural environment that enhances the overall residential appeal for students.
- Fully furnished inventory: Living rooms, dining areas, and kitchens come completely equipped with necessary white goods and appliances, minimizing immediate setup costs for new buyers.
- Established student community: The complex accommodates up to three hundred students within structured four and five bedroom units, creating a vibrant and proven rental hub.
- Dedicated study spaces: All bedrooms are outfitted with large built-in study desks and adequate wardrobe storage, perfectly catering to the functional needs of university attendees.
- Stable asking price: Recorded historical pricing shows complete stability at one hundred seventy-five thousand euros without erratic fluctuations, suggesting a confident and realistic initial seller valuation.
- Lower entry price point: At this affordable valuation, investors can enter the institutional-grade student housing market with significantly lower capital exposure than standard residential properties.
- Managed tenant sourcing: Tenants are entirely sourced through the specialized management company, eliminating the continuous administrative burden of advertising and individual lease administration.
- Compact floor layout: Spanning one hundred three square meters, the unit provides an efficient spatial arrangement designed to optimize communal living without excessive maintenance overheads.
- Established track record: The development has a long-standing operational history as dedicated student accommodation, reducing the initial market uncertainty typically associated with new ventures.
- Proximity to academia: The location offers convenient transit links and accessibility to major third-level educational institutions in Limerick, ensuring a consistent and renewable tenant pool.
- Energy rating baseline: The property holds a C3 energy efficiency rating with a performance indicator of two hundred five point nine six kilowatt-hours, providing a clear baseline for future upgrades.
- Communal social areas: Adjoining kitchen, dining, and living rooms foster a cohesive shared environment that is highly sought after by undergraduate student groups sharing accommodation.
- Passive income focus: The hands-off investment model is explicitly structured for buyers seeking predictable quarterly distributions rather than active residential property management tasks.
- Low negotiation pressure: The static asking price history indicates a firm vendor stance, which streamlines the acquisition process by setting clear financial expectations from the outset.
- Security infrastructure: Comprehensive CCTV installations across the development enhance personal safety for occupants and protect the physical asset from unauthorized access or vandalism.
- Appliance inclusion: All essential white goods are included in the sale, safeguarding the investor against immediate replacement expenditures upon taking ownership of the unit.
But keep in mind:
- Strict student let restriction: The property must remain within the student letting pool and is explicitly unsuitable for private or open market residential letting strategies.
- Income variation caveat: Annual rental returns are provided merely as a guide, and the auctioneer explicitly disclaims liability for any subsequent variations in actual owner yields.
- C3 energy rating limitations: The current C3 rating may require future energetic retrofitting to comply with tightening environmental regulations and to reduce heating costs for occupants.
- Electric heating reliance: The unit relies on an electric heating system, which can prove relatively expensive to run and may deter tenants conscious of monthly utility bills.
- Management company dependency: Owners are entirely reliant on the third-party management entity for operational success, tenant occupancy rates, and the timely disbursement of rental funds.
- Financing complexities: Purpose-built student accommodation units often face stricter lending criteria and higher deposit requirements from mainstream mortgage providers compared to standard homes.
- Resale market constraints: Because these units are restricted to student schemes, the potential pool of future buyers is limited primarily to specialist investors rather than owner-occupiers.
- Quarterly net distribution: Net income is distributed quarterly at approximately twenty-four hundred euros, meaning cash flow is tied strictly to the management company schedule rather than monthly.
- Wear and tear risks: High-turnover student tenancies inherently experience accelerated interior wear and tear, potentially necessitating frequent maintenance and redecoration out of pocket.
- Lack of capital control: Individual owners lack direct control over rental pricing strategies, management fees, and complex-wide maintenance decisions administered by the operating company.
- Potential management fees: Buyers should thoroughly investigate ongoing management, service, and sinking fund charges, as high fees can significantly erode the projected net annual return.
- Single asset class risk: Investing in a dedicated student village ties your capital performance directly to the higher education sector and university enrollment trends in the region.
- No open market appreciation: The specialized nature of the development may result in slower capital appreciation compared to traditional residential houses in prime suburban locations.
- Limited personal use: Owners typically cannot use the property as a personal holiday home or city base during summer months due to complex management rules and leasing structures.
- Uncertainty of future yields: The projected nine thousand six hundred euro annual return is an estimate, and actual payouts could fluctuate based on complex-wide occupancy rates.
- Static pricing implications: The lack of asking price movement could reflect sluggish market demand or an inflexible seller unwilling to negotiate on the stated asset value.
- Strictly commercial transaction: The purchase operates more like a commercial financial product than traditional real estate, requiring careful legal review of the pooling agreement.
- Limited floor area expansion: With a fixed size of one hundred three square meters across four bedrooms and four bathrooms, there is no physical scope for structural extension.
- Potential maintenance levies: Special assessments or capital levies might be imposed by management for large-scale repairs to the wider Grove Island development or recreational facilities.
- Reliance on localized economy: The investment performance depends heavily on the ongoing economic viability of the local shopping center and leisure amenities supporting the student village.
Price positioning
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- The asking price appears attractively valued given the substantial four-bedroom and four-bathroom layout spanning one hundred three square meters, offering an exceptionally low entry cost per square meter compared to standard residential properties in the surrounding suburban area.
- Valuation signals are heavily influenced by the specialized student accommodation model, where pooled rental schemes generate approximately nine thousand six hundred euros annually, indicating a distinct commercial asset class that restricts traditional private owner-occupier mortgage financing options significantly.
- Factors supporting this price point include hands-off investment appeal and reliable managed student occupancy, while potential risks involve dependency on management company performance, financing hurdles for investors, and restricted liquidity due to mandatory student-only letting covenants.
- Relevant market dynamics show stable asking price history without recent reductions, reflecting confident seller positioning aligned with specialized yields, although prospective buyers must carefully weigh institutional restrictions against the gross rental return profile.
Build Analysis
What we know from similar construction types
- The property is part of a purpose-built student accommodation complex known as Grove Island Student Village, comprising four- and five-bedroom units.
- It features a 103 square metre floor area with four bedrooms, all of which are en-suite, alongside a shared kitchen, dining, and living area.
- Services include an electric heating system, on-site management, and CCTV.
- Buyers should investigate the specific management company structure, pooling arrangements for rent, and any restrictions or covenants associated with purchasing purpose-built student housing units.
- Prospective purchasers should also verify compliance with local planning guidelines regarding student-specific use versus private residential letting, as the description notes the units are restricted to student lets only.
Heating cost*
Estimated expense to heat this property every year
- Estimated annual heating cost is approximately 1,200 to 1,600 euro.
- This estimate accounts for the C3 BER rating and a floor area of 103 square metres combined with the electric heating system mentioned in the property facts.
Pollution Safe
8/10Environmental situation to investigate
- The property is located in a predominantly residential and commercial suburban setting in Limerick, appearing largely free from major heavy industrial pollution concerns.
- Any historical industrial activity or waste management sites in the broader municipal area should be independently verified by prospective buyers if specific environmental audits are required.
Flood Safe
6/10Water overflow reports to follow up
- The development is situated directly on the banks of the Abbey River, which introduces proximity to water bodies that warrant a careful review of local flood risk assessments.
- Buyers should investigate local authority flood maps and historical records to determine whether specific defenses or past events impact this particular riverside site.
Recent Local Sales
Verified residential transactions published in the previous five years
Sales on the same street or estate
51 FISHERMAN'S QUAY, GROVE ISLAND, CORBALLY
- Sale date
- Declared sale price
- €235,000.00
20 LOCK MILLS, GROVE ISLAND, CORBALLY
- Sale date
- Declared sale price
- €230,000.00
63 FISHERMANS QUAY, GROVE ISLAND, CORBALLY
- Sale date
- Declared sale price
- €203,000.00
25 LOCK MILLS, GROVE ISLAND, CORBALLY
- Sale date
- Declared sale price
- €274,000.00
55 FISHERMAN'S QUAY, GROVE ISLAND, CORBALLY
- Sale date
- Declared sale price
- €200,000.00
Recent sales in the wider Corbally area
16 BROOKHAVEN WALK, MILL ROAD, CORBALLY
- Sale date
- Declared sale price
- €338,000.00
43 PARK GARDENS, CORBALLY, LIMERICK
- Sale date
- Declared sale price
- €390,000.00
70 COLLEGE PARK, CORBALLY, LIMERICK
- Sale date
- Declared sale price
- €336,000.00
17 PARK GARDENS, CORBALLY, LIMERICK
- Sale date
- Declared sale price
- €385,000.00
26 LANAHRONE AVE, IRISH ESTATES, CORBALLY
- Sale date
- Declared sale price
- €300,000.00
Source: Property Services Regulatory Authority (PSRA), Residential Property Price Register (PPR). Matching uses address information published by the PPR rather than measured map distance. It may omit nearby properties on differently named streets.
Last Sale
A confidently matched previous PPR transaction for this property
No confidently matched previous sale was found in the Property Price Register.
Buyer fees*
Associated expenses guide
- Estimated stamp duty: €1,750 — 1% of €175,000.
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Based on the asking price shown on this page, using standard residential stamp-duty rates. No adjustments are made for VAT, reliefs, mixed-use property or additional land. The final purchase price and your circumstances may change the amount payable.
- Solicitor legal fees: approximately 1,500 to 3,000 euro plus VAT and outlays.
- Land registration fees: approximately 400 to 800 euro depending on the property value and registration type.
- Property valuation fees: approximately 150 to 300 euro for a standard mortgage valuation.
- Surveyor fees: approximately 400 to 800 euro depending on the level of detail required for a structural survey.
- Annual home insurance: approximately 350 to 700 euro depending on the level of contents and buildings coverage.
Forum Talk
What people are saying about this area
- Local residents frequently discuss the convenience of the Grove Island development due to its proximity to local supermarkets, retail outlets, and leisure facilities.
- Student accommodation complexes in Limerick are often reviewed on community forums regarding their management structures, pooled rental schemes, and net returns for investors.
- Discussions around the Corbally area often highlight transport links and traffic flow into Limerick city center during peak commuting hours.
- Local community groups monitor urban development along the Abbey River, noting both the scenic amenity and the importance of ongoing riverbank maintenance.
LifeFit Assessment
How well this property may suit your lifestyle
Family
7 areas- Young Children1/10
This is a purpose-built student accommodation unit within a designated student village, making it entirely unsuitable for families with young children.
- Teenagers1/10
As part of a managed student accommodation complex with pooled rent schemes aimed at university lets, this property is not suitable for resident teenagers.
- Multi-generational Living1/10
The property is restricted to student letting only through a management company, prohibiting multi-generational private living arrangements.
- Single Buyers4/10
While single buyers can purchase the property as a hands-off investment, they cannot live in it themselves due to the student-let restriction.
- Couples4/10
Couples may find this attractive purely as a passive investment vehicle, but owner-occupation is not permitted under the management structure.
- Empty Nesters4/10
Well-suited as an investment asset for empty nesters seeking passive income, though it offers no potential for personal downsizing or retirement living.
- Retirees4/10
Retirees looking for hands-off rental income may appreciate the pooled rent scheme, but the unit cannot be occupied by the owner.
Work
3 areas- Remote Working2/10
The unit must be let through the student management scheme, preventing the owner from utilizing it as a home office or remote workspace.
- Hybrid Commuting2/10
Strictly an investment property dedicated to student letting, making it unusable for a hybrid worker's residential needs.
- Retired7/10
The hands-off pooled rent scheme requiring minimal management makes this a viable passive income asset for retirees.
Practical
8 areas- Ageing in Place1/10
Not applicable for owner occupation or long-term personal adaptation, as the property is locked into a student rental pool.
- Low Maintenance10/10
The pooled rent scheme and on-site management company handle tenants and upkeep, offering an exceptionally hands-off investment.
- Secure Gated Entry8/10
The development benefits from on-site management, CCTV, and secure structured access suited for a student village.
- Minimalist Design7/10
Purpose-built student accommodation naturally features functional, standardized, and low-fuss interior layouts with white goods included.
- Flexible Floor Plans2/10
Fixed layout comprising four ensuite bedrooms, kitchen, dining, and living areas tailored strictly for student sharing.
- Heritage Home1/10
This is a modern, purpose-built student accommodation block with a C3 BER rating, possessing no historic or heritage features.
- Ecological Setup4/10
Features electric heating and a C3 energy rating (205.96 kWh/m2/yr), offering standard energy efficiency without advanced eco-retrofits.
- Outdoor areas3/10
Communal grounds are managed by the student village operators, with no private outdoor garden space attached to the unit.
Interests
9 areas- Gardening1/10
The property is an apartment-style student unit with communal grounds managed by an on-site team, leaving no space for private gardening.
- Walking7/10
Proximity to the Abbey River and local shopping amenities provides good opportunities for urban walking and riverside strolls.
- Gym9/10
The development is located directly beside a state-of-the-art leisure centre, making fitness access exceptionally convenient.
- Cycling6/10
Urban location allows for reasonable cycling access into Limerick city, though storage specifics within the student complex should be verified.
- Golf5/10
Standard urban positioning with typical access to nearby regional golf courses by car.
- Fishing6/10
The property is situated directly on the banks of the Abbey River, offering potential convenience for angling enthusiasts.
- Horse Riding2/10
An urban student village setting provides no immediate facilities or stabling for horse riding.
- Water Sports5/10
River proximity offers some localized water-based activity potential, though major water sports facilities would require travel.
- Entertaining2/10
Designed specifically for student occupancy under a management company, personal entertaining by the owner is not feasible.
Lifestyle
5 areas- Quiet Living3/10
Located in a busy student village housing up to 300 students, residents or neighbors should expect a lively environment rather than quiet suburban living.
- Rural Living1/10
Situated in Corbally near Limerick city on the banks of the Abbey River, this is an urban development with zero rural characteristics.
- Village Living5/10
The development operates as a self-contained student village with adjacent shopping and leisure amenities, offering a localized community feel.
- Coastal Living1/10
Positioned riverside by the Abbey River in an urban setting, far from any coastal environments.
- Urban Living8/10
Conveniently located near a shopping centre with supermarkets and retail outlets close to Limerick city center.
Social
6 areas- Community Involvement4/10
The location is heavily integrated into a student community, though owner involvement is restricted to financial investment.
- Café Culture7/10
Proximity to local retail outlets and the wider Limerick urban area provides good access to local cafes and eateries.
- Nightlife8/10
Being a purpose-built student village near Limerick city ensures high proximity to vibrant student-oriented nightlife.
- Health/Wellness groups8/10
The adjacent state-of-the-art leisure centre and local facilities support wellness activities and fitness groups.
- Networking Opportunities3/10
Primarily a student residential hub rather than a professional networking environment for investors.
- Tech-Hub Connectivity6/10
Urban positioning in Limerick offers standard broadband infrastructure suitable for modern property management.
Listing information
- Agent
- Sherry FitzGerald Limerick
- Phone
- 061 418 000
- Current status
- active
- Published on HouseDelve
- 26 October 2026
- Correction
- Report an issue
HD-B061E0HouseDelve · Republic of IrelandReport checks
Sources used: Public marketplace, Property Price Register, and grounded web research where available.
Automated quality checks: Passed
* Estimate — not advice. Actual costs and outcomes can vary materially. Obtain current quotations and professional advice before making financial or property decisions.