UK investor buys Dublin 2 period house for €2.1m
Property divided into five apartments sells for 8% above its guide price
14 Warrington Place, in Dublin 2, is producing a rent roll of €130,000 per annum
A UK purchaser has paid €2.1 million for a period house divided into five apartments at 14 Warrington Place in Dublin 2.
The sale, handled by Marguerite Boyle of Savills, comes in at 8 per cent above the guide price of €1.95 million and reflects a gross yield of 6 per cent. It also confirms the strong appetite among international investors for residential assets in Dublin – particularly those in good repair and in prime locations.
Number 14, which came on the market last September, is let to Adoor Premium Serviced Apartments on a five-year lease at €130,000 per annum. Adoor looks after more than 100 apartments in the Dublin 2 and 4 postal codes on a serviced basis.
The apartments in number 14, four one-beds and a two-bed, were recently refurbished to a high standard, contain many original features and some look out to the Grand Canal.
Number 14 is three storeys over basement and extends to 286.5sq m (3,085sq ft). It is located between Mount Street Crescent and Northumberland Road, and is within walking distance of the Dart, Luas and city centre.