Thursday 25 May 2017

€750k for Baggot St First Active

First Active has grossed about €750,000 from the sale of a freehold investment property at 48 Upper Baggot St, Dublin 2, to a private investor.

The Victorian mid-terrace red brick building extends to 205sqm and generates €55,000 a year from its ground floor and from a mobile phone mast. JFD Financial Services has a 10-year lease on the ground floor.

Peter Flanagan of BNP Paribas Real Estate, who represented the buyer, commented: "We believe the property has the capacity to yield €75,000 p.a. once the three upper floors are let.

"Even allowing for the cost of refurbishment as well as purchaser's costs, we are confident the property will produce a return of about 8.5pc a year on the investment once fully let".

Katie Horridge of DTZ Sherry FitzGerald represented the vendor.

Irish Independent

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