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

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.