Dublin city residential rental investment for €8.5m

Smithfield Market portfolio comprises 19 apartments in concierge-serviced scheme

Investors aiming to secure a foothold in the private rented sector and those seeking to enhance their existing position are expected to vie for 19 apartments which have come to the market in Dublin city centre.

The Smithfield Market portfolio, as it is known, is being offered for sale by agent Hooke & MacDonald at a guide price of €8.5 million, which equates to an average of €447,000 per unit. The apartments are occupied on standard residential tenancies and are being sold with tenants in situ who will not be affected by the sale.

The portfolio comprises seven one-bedroom and 12 two-bedroom units located on and taking up the entire of the fourth, fifth and sixth floors. Five of the apartments are located at penthouse level offering views across the city. The units are finished to a good standard, each with a good-sized balcony and one designated car-parking space. There is direct access via two lifts to 19 car spaces in the basement carpark. The development itself has a 24-hour concierge and security service.

The apartments are located directly adjacent to the Maldron Hotel overlooking Smithfield Market, within 200 metres of the Luas red line stop at Smithfield Station and in close proximity to a range of amenities on offer in the area.

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The wider Smithfield Market development is one of Dublin city’s finest mixed-use schemes incorporating residential, commercial and retail, with hotel, leisure and cultural space. Occupiers include the Lighthouse Cinema, Fresh Supermarket and 1escape Health Club.

Conor Steen of Hooke & MacDonald says: “The Smithfield Market investment sale offers investors an excellent opportunity to acquire a high-quality multi-family investment in a very strong rental location”.

Ronald Quinlan

Ronald Quinlan

Ronald Quinlan is Acting Property Editor of The Irish Times