Period building on Talbot Street sells for €1.4m

Mixed-use investment in Dublin 1 is bought by a private investor

10 Talbot Street in Dublin 1

10 Talbot Street in Dublin 1

 

A private investor has paid €1.4 million for a mixed-use investment at 10 Talbot Street in Dublin 1.

The lot was sold on Lisney’s click to purchase online sales platform, where, once a price has been agreed, sales contracts are digitally signed with legally-binding electronic signatures on behalf of both parties.

No 10, a recently refurbished period building, is producing a rent roll of €103,000, which would reflect a net initial yield of 6.78 per cent.

The ground floor and basement are occupied by Paddywagon on a 20-year lease from April 1st, 2016, at €85,000 per annum.

Overhead are two apartments – a large one-bed and a two-bed duplex. The latter is rented at €18,000 a year and the former is vacant. One-beds in the same postal code on daft.ie are quoting rents from €1,500 a month.

Lisney’s Thomas Byrne says the online sales process “provides benefits” for both vendors and purchasers. “Purchasers carry out all due diligence prior to submitting an offer and are fully aware of what they are buying,” he says. “Vendors are provided with the certainty of signed contracts once an offer is accepted on the platform.”