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Mater Georgian property could bring 6pc yield

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The property at 72 Eccles Street

The property at 72 Eccles Street

The property at 72 Eccles Street

A Georgian investment property let to The Mater Private Hospital has been brought to the market through agents Knight Frank who are guiding more than €2.25m for it.

Located at 72 Eccles Street, on Dublin's northside, it produces a annual rent of €150,000 and its guide price would equate to a net initial yield of about 6.06pc after 9.96pc standard purchaser's costs.

Extending to 382.06 sq m (4,112.46 sq ft) in total, the four-storey over garden level building is situated on the south side of Eccles Street, close to its junction with Dorset Street and directly opposite the main entrance to The Mater Private Hospital.

Ross Fogarty of Knight Frank says its full repairing and insuring (FRI) lease includes upward only rent reviews every five years and dates from June 2006 and runs until 31 December 2030 providing secure income for about 11 years.

The property serves as both The Mater Privates Heart and Vascular consultant's rooms and key administrative functions for the hospital.

The Mater Private currently operates in four locations - Dublin, Cork, Limerick and Liverpool.

The parent company, Infravia Capital Partners, is a France-based investment company which currently has approximately €4bn of assets under management across four infrastructure funds.

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