€1.35m Smithfield apartment portfolio offers purchaser 8.1% gross yield

Five Brunswick Court units producing gross rental income of €109,000 per annum

Brunswick Court is located near the Luas red line and the DIT’s new campus at Grangegorman.

Brunswick Court is located near the Luas red line and the DIT’s new campus at Grangegorman.

 

Agent QRE Real Estate Advisers are guiding a price of €1.35 million for a portfolio of five apartments at Smithfield in Dublin city centre.

Numbers 3, 14, 18, 19 and 28 Brunswick Court are fully let and generating combined gross rental income of about €109,000 per annum – an average monthly rent of €1,800 per apartment.

The subject portfolio comprises four large four-bedroom units and one three-bed duplex unit in a small development of just 33 apartments on North Brunswick Street . The scheme is located within close proximity to both the new Grangegorman campus of the DIT (now Technological University Dublin) and a range of public transport links including numerous Dublin Bus routes and the Luas red line.

Brian Kelly of QRE believes that the property will “be of interest to investors, particularly pension investors seeking to take advantage of the attractive return and obvious reversionary potential”.

The Brunswick Court portfolio’s €1.35 million guide price reflects a gross yield of 8.1 per cent or a capital value of €270,000 per unit.