Dublin city centre apartment investment for €6.8m

Development of 14 one-bedroom apartments and nine two-bedroom units brings annual rent of €330,000

The 20-year-old apartment complex is within two minutes walk of Harcourt Street Luas stop in Dublin city centre

The 20-year-old apartment complex is within two minutes walk of Harcourt Street Luas stop in Dublin city centre

 

A 20-year-old apartment investment within two minutes walk of Harcourt Street Luas stop in Dublin city centre goes for sale from today.

Ross Harris of agents Cushman & Wakefield is guiding over €6.8 million for the 23 apartments at Shaw Court, Synge Place, off South Circular Road.

The development is comprised of 14 one-bedroom apartments rented at around €1,600 per month and nine two-bedroom units which yield €2,100 each. There are 15 basement car parking spaces.

The portfolio is bringing in an annual rent of €330,000, which will give the purchaser a net initial yield of 4.85 per cent. Cushman & Wakefield estimates that the true rental value of around €495,000 will show a gross return of 7.28 per cent.