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Dublin 4 period office investment achieves €2.7m from sale

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The period office building at 60 Northumberland Road, in Dublin 4, which has been acquired for €2.7m

The period office building at 60 Northumberland Road, in Dublin 4, which has been acquired for €2.7m

The period office building at 60 Northumberland Road, in Dublin 4, which has been acquired for €2.7m

A private investor has acquired a period office building, 60 Northumberland Road, in Dublin 4, for €2.7m . Its price equates to a net initial yield of 3.7pc, increasing to 5.95pc from January 2024 after allowing for standard purchaser costs of 9.96pc.

The redbrick semi-detached building, extending to 4,144 sq ft, came with parking for 10 cars. It is fully let to a single tenant, I3PT Certification Ltd on a 20-year lease from January 2020. Its rent is stepped over the first five years from €100,000 a year to €176,000 for the fifth year.

Gerard McDonnell of agent Pembroke McDonnell handled the sale and TJ Kearns of Propertylocator.ie represented the purchaser. The renovated property has rear access off Lansdowne Park.

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