Eight properties for sale in Ballsbridge as one lot

Estate agents guiding €2.8m for seven apartments and one mews

 

Seven apartments and a mews house, which account for about half of a residential investment portfolio in Ballsbridge, Dublin 4, are to be offered for sale in one lot on the instructions of Anne O’Dwyer of receivers Duff & Phelps.

Hooke & MacDonald is guiding €2.8 million for the properties which are located off the Lansdowne Road/Herbert Road roundabout at Baggot Rath, Newbridge Avenue.

The eight units are being offered for sale with vacant possession but the agent estimates that they have a rental value of €173,400 per annum.

Five of them are two-bedroom apartments, two are one-bedroom units and there is also a three-bedroom mews house beside the apartment block.

They form part of the original development of 17 units which were built in the mid-Eighties and upgraded in the past decade.

Donald MacDonald of the selling agents said the homes had been rented as short-term lettings for over 10 years.

They had yielded “strong rents” , Mr MacDonald added, of up to €700 a week for one-bedroom units, €800 a week for the two-bedroom apartments and €1,550 for the three-bedroom mews.

He said that whoever bought the portfolio could continue with high-yielding corporate lets or switch to the standard 12-month tenancies which would attract rents of €1,500 a month for one-bedroom apartments, €1,800-€1,900 for two-bedroom apartments and €2,250 for the three-bedroom mews house.