Sunday 18 August 2019

Mixed use investment property in Phibsboro sale agreed for €1.5m

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Donal Buckley

Donal Buckley

A mixed use investment property at 174 Phibsboro Road, Dublin 7, has gone sale agreed for around €1.5m, suggesting a gross yield of about 6.5pc. It comprises six residential units including four duplex units each of which have two bedrooms, as well as a one-bed and a two-bed apartment.

The building has a busy retail unit at ground floor which extends to 83.35 sq m including the shop front and storeroom, currently occupied by a local Gala retailer.

Agents DNG, who had been quoting €1.3m, say the total estimated rental income is €99,348 per year.

Its residential units range in size from 45 sq m for a one-bed apartment up to 73 sq m for one of the duplex units which has two bedrooms, a modern kitchen/breakfast room, large living room, and main bathroom. Two of the duplexes have the benefit of two large balconies each with both easterly and westerly aspects while the other duplexes have single balconies.

Each of the units has its own entrance and the two-bed apartment also has the benefit of extra space offered by an east-facing walled garden with low maintenance timber decking and loose stone.

Located in the heart of Phibsboro, just 25 metres from Doyle's Corner and 800 metres from the Mater Hospital, the newly opened university campus at Grangegorman and the Luas green line extension are both within walking distance.

The combination of proximity to the city centre as well as its ease of access to the Technological University Dublin at Grangegorman and Dublin City University in Santry makes Phibsboro a popular location for both rental and family residences.

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