DTZ Sherry FitzGerald expects to secure about £1.5 million for Halcam Court, an apartment complex with 21 units at 61 Pembroke Road, Dublin 4, when it goes to auction on September 23rd. The property is being sold on the instructions of Anglo Irish Bank.
James Meagher, director of the selling agents, estimates that the 21 self-contained apartments will produce a rental income of more than £130,000 per annum. He expects interest will come from residential developers, hoteliers and investors.
The apartments are located in a detached four-storey over garden level Victorian house, which has frontage on to Raglan Road and Pembroke Lane, as well as on to Pembroke Road. In addition to the main building, there is an adjoining two-storey extension to the side, a modern six-storey building to the rear and a mews. The buildings were last upgraded in the 1960s and, according to the agents, could be upgraded or redeveloped as townhouses, a guesthouse or hotel.
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