Tallaght residential portfolio for €2.25m

An investment portfolio with 30 apartments beside Tallaght Hospital in south Dublin goes on the market today with a guide price of €2,250,000. It will show a return of 7 per cent after acquisition costs are taken into account, according to Jeremy Kelly of agents Kelly Walsh.

The apartments are located in Exchange Hall, a high-profile development completed more than a decade ago by developer Bernard McNamara. The units have always been popular because of their high-quality finish and strategic location next to the main entrance to the hospital.

The 30 units produced an overall rental income last year of €276,124.

The apartments are among 146 units in The Exchange sold with section 23 tax incentives which have since expired. The development also includes office accommodation and a public car park located in a double basement.

Eleven of the 30 apartments going for sale are one-bedroom units, 17 of them have two bedrooms while the remaining two have three bedrooms.

One or two lots
The investment will be offered for sale in its entirety or in two lots – 17 apartments on the sixth floor and 13 on the fifth floor.

Exchange Hall is located just north of The Square shopping centre and adjoins the Luas red line station which carries passengers into Middle Abbey Street in about 30 minutes.