Monday 5 December 2016

Ask the Experts: What would you buy if you were investing: (a) €200,000; (b) €350,000; (c) €600,000?

Published 23/01/2016 | 02:30

Darina Collins, REA
Darina Collins, REA
Marian McQuillan, Ceo of Quillsen
Keith Lowe CEO Douglas Newman Good
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Keith Lowe

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For both (a) and (b) I'd go looking for an apartment or townhouse in Dublin City centre - the property will rent with no void periods and a great return.

With over 50 major tech companies in the city already including Google, LinkedIn and Facebook are now thousands of well-paid renters in Ireland for the short to medium term who wish to rent good quality city residential accommodation.

(c) Spending €600,000 I would certainly consider acquiring a large period red-brick home in multiple units on Dublin's northside.

These are available on the likes of North Circular Road and surrounds. The returns are very strong, the Grangegorman college campus is growing and the new Luas line will pass close by some.

As rents become more unaffordable for modern apartments, tenants will refocus on apartments in converted houses and consequently rents will rise.

Management tends to be trickier in these buildings but the returns are attractive.

Keith Lowe is CEO of Douglas Newman Good, which has 75 offices throughout the country. He has 32 years experience in the property sector having joined the firm in 1984.

Marian McQuillan

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(a) As an investor spending €200,000 I would buy a property offering a high yield and with good rental demand such as a two-bed in Dublin 8. The rent would be approx €1,200 per month - gross yield over 7pc.

(b) I would buy a two-bed unit in a prime location with high rental demand and potential for good capital appreciation e.g. the Docklands area close to established businesses e.g. Google, and the Dart. The rent would be in region €1,500 p.m. yielding a 5pc return.

(c) If I was an investor spending €600,000, I would buy a unit for corporate let in areas such as Ballsbridge or Donnybrook. High end apartment developments would rent for €2,500 per month yielding a 5pc yield and potential for good capital appreciation.

Marian McQuillan is the CEO of Quillsen, formerly Gunne Estate Agents and was previously a director of Purcell McQuillan Tax Partners.

Darina Collins

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(a) I would acquire a second hand three-bed semi in an older more mature estate.

(b) I would look into acquiring a small block of apartments/townhouses.

(c) I would look at the option of acquiring an older style detached family home which is in need of a total overhaul.

Darina Collins is a director of and a founding member of the Real Estate Alliance, a partnership of more than 50 auctioneering firms. She is also a partner in REA O'Brien Collins, the Drogheda based general practice firm.

Irish Independent

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