Thirty period houses mainly in Dublin 6 for sale for €60m
Houses divided into 265 apartments are producing rental income of €4.2m
The thirty houses are located in Ranelagh, Rathmines, Rathgar, Portobello and Ballsbridge
Thirty period houses mainly located in Dublin 6 and divided into 265 apartments are to be offered for sale in a single lot at €60 million.
The unusual sale is to be handled by Tim MacMahon of CBRE on behalf of a US investment group which has completed an upgrading of all the properties.
The thirty houses are located in Ranelagh, Rathmines, Rathgar, Portobello and Ballsbridge and are producing a gross rental income €4.2 million. The average rental level across the Belgrave Collection of €1,320 per month is significantly below the average rents for these locations, according to CBRE.
The 265 properties in the portfolio comprised 146 studio apartments, 85 one-bedroom apartments, 29 two-bedroom units and five three-bedroom homes.
Mr McMahon said there was a particularly strong demand for 87 per cent of the rental units which were either studio or one-bedroom apartments.
The entire collection was recently refurbished and has new kitchens, bathrooms and soft furnishings.