Irish firm pays close to €6.5m for Robswall residential investment in Malahide

Conor Whelan of QRE Real Estate Advisers reported strong interest in the 26 apartments and penthouses

The Robswall development in Malahide, Co Dublin

The Robswall development in Malahide, Co Dublin

 

Irish investment firm Ardstone has paid close to €6.5 million for a multi-family residential investment in the much sought after Robswall development in Malahide, Co Dublin.

Conor Whelan of QRE Real Estate Advisers reported strong interest in the 26 apartments and penthouses and a single duplex house which will show a return of 6.55 per cent when all the units are let.

The investment was sold on behalf of the UK property group U+I (previously known as Development Securities) which bought it as part of a portfolio of 85 homes and nine acres of development land from the developer Gerry Gannon in July 2014 for a reported €36 million.