23 apartments and office suite in Dublin 2 for €5.8m

A mixed-use investment of 23 apartments and an office suite in the Dublin 2 docklands is fresh to the market this week with Hooke & MacDonald guiding €5.8 million.

City Square, which was built in 2008 by G & T Crampton, is being sold by Maple Holdings. It is located on Gloucester Street South – between City Quay and Townsend Street – so the Dart, Trinity College and docklands are all within easy walking distance.

The apartments, which are being sold with tenants in place, are located in a larger scheme of 27 homes and include 16 one-beds, two one- bed plus study units and five two-beds.

Wyse Property Management looks after the building. Its annual management charges for the one-beds are currently €1,382.60 and €1,797.37 for the two-beds.

Hooke & MacDonald suggests the estimated rental value of the apartments is €387,000 per annum while the sale also includes six car-parking spaces.

The office suite, which has 57sq m (613sq ft) of space, is let at €15,000 plus VAT and is being sold with a tenant in place.

The lease has about one year to go on a two-year term.