Wednesday 19 September 2018

€1.5m Mountjoy Square pre-63 offers 6.69pc initial yield

No 67 Mountjoy Square has high reversionary potential
No 67 Mountjoy Square has high reversionary potential
Ronald Quinlan

Ronald Quinlan

Agent Knight Frank is guiding a price in excess of €1.5m for No 67, Mountjoy Square, Dublin 1, a pre-63 multi-family investment property with high reversionary potential. Based on its guide price, the property offers a gross initial yield of 6.69pc once standard acquisition costs of 4.46pc are deducted.

No 67 is a Georgian building that has been sub-divided into 11 self-contained residential units with kitchen and bathroom facilities. A protected structure, it comprises; seven one-bed units, two two-bed units, one three-bed unit and one one-bed studio, producing a current combined rental income in the order of €104,760 per annum.

Ross Fogarty of Knight Frank notes that the current rental income is relatively low compared to the prevailing market rent, which he estimates is in the region of €137,520 per annum.The property is situated on the western side of Mountjoy Square close to its junction with Gardiner Place, and just a short walk from the heart of Dublin city centre. Its central location provides residents with every amenity and service the city has to offer.

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