Residential rental investment in the Liberties guiding at €3m

Portfolio comprises 10 apartments producing ‘highly reversionary’ rent of €98,172

Those looking for an opportunity in Dublin’s thriving private rented sector (PRS) market will likely be interested in the sale of 101-103 Francis Street.

Located in the heart of the city’s historic Liberties, the investment comprises 10 two-bedroom apartments located above the well-known Anti-Social Bar.

Seven of the units are fully let and producing a highly reversionary gross rental income of about €98,172 per annum, with rents ranging from €920-€ 1,800 a month. There is further immediate potential to add up to €75,000 in income per annum through the letting of the three vacant apartments which include a penthouse.

With agent BNP Paribas Real Estate guiding a price of €3 million for the portfolio, the prospective purchaser can expect to secure a reversionary yield of 5.5 per cent after acquisition costs following the letting of the vacant units.

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Matthew Vanston of BNP Paribas Real Estate says: “101-103 Francis Street offers a fantastic opportunity to acquire a real value-add residential investment in one of Dublin’s most sought-after areas. There is a great opportunity to increase rent roll through the letting of the vacant units or by seeking vacant possession and potentially redeveloping the property, subject to planning permission.”

Ronald Quinlan

Ronald Quinlan

Ronald Quinlan is Property Editor of The Irish Times