Wednesday 20 September 2017

Group of 18 apartments guiding €2.2m for the lot

A group of 18 apartments in one of the blocks at the St Edmunds estate in Palmerstown, Dublin 20, is for sale with a €2.2m guide price for the lot. With all but one let, the apartments are currently producing an annual rent roll of €196,620.

Rents range from €900- €1,150 per month with standard short-term leases.

Agents GVA Donal O Buachalla say the guide price would generate a net yield of around 8.6pc.

It also equates to an average unit price of just €122,222 per apartment which is a discount of around 60pc to the €350,000--€365,000 at which similar units sold at the peak of the market.

Located within the St Juliet Block, the mix of units comprise 12 two-bedroom and six three-bedroom units. Stylishly fitted, they range in size from 77-116sqm, and some benefit from dual aspect.

Each apartment has an underground car-parking space and the annual service charge average is about €1,200.

St Edmunds is well located just off the N4 Lucan by-Pass close to Liffey Valley Shopping Centre, the Clarion Hotel and the M50.

Brian Gaffney of GVA says: "This is an excellent opportunity for investors to acquire a quality lot with steady rental income, offering potential to hold for a period and realise "break-up" value through a strategy of future individual unit sales, in an area with strong demand."

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