Apartment block in Howth up for grabs
Location: Shieling Square, Howth
A serious investor anxious to buy before year end and with €8m to spend could find themselves the owner of 75 apartments on the site of the old Shieling Hotel in Howth.
Built in four blocks, there are 13 one-bedroom apartments, 54 two beds and eight three-bed units, some of which are penthouses.
Of all of these, 12 are fitted and finished; the remainder are awaiting work. The scheme comes with 124 car spaces and 12 lock-ups. It's expected the gross value of the development will be €25m when complete, obtaining an annual rental yield of around €1.5m. The CGT requirement insists that the units are held for a minimum of seven years before disposal.
Shieling Square is on the Howth Road in north County Dublin and many of the units have views across to Bull Island and across Dublin Bay.
Enquiries to: Owen Reilly (01) 6777100 or joint agent Lisney (01) 6382700.