Nine two-bedroom apartments at the 2006 Printworks scheme in Bray are available in one lot at more than €1.55 million – that’s an average of €172,000 per apartment – through agent Bagnall Doyle MacMahon (BMD).
The apartments generate a rent roll of €105,120 which could rise to about €151,000 when two vacant units are rented out. Based on the guide price and rent roll, an investor would secure a net initial yield of 6.53 per cent.
The Printworks is located on Adelaide Villas close to the town centre with easy access to the Dart and bus services. The apartments range in size from 53-72sq m (570-775sq ft) and form part of a 45-unit scheme.
BMD is also selling a portfolio of 16 residential units at the College View and Gateway Mews developments in Ballymun close to Dublin City University.
Six two-bed and six three-bed apartments at College View in Dublin 11 range in size from 60-99sq m (646-1,066sq ft) and are guiding more than €1.55 million (or €129,166 per apartment). Ten of the apartments are let for a total rent roll of €124,380.
Four townhouses at Gateway Mews just off the Ballymun Road are guiding €625,000 – or €156,250 per house – and produce a rent roll of €58,800. These two-bed homes range in size from 70-80sq m (753-861sq ft).