Ronald Quinlan - Irish Independent
September 6th 2018
Ellen Prenderville of QRE Real Estate Advisers is guiding a price of €3.75m for a portfolio of 14 apartments at the established Brookwood Abbey scheme in Artane, Dublin 5.
The multi-family investment is producing a rent of €213,600 per annum (€17,800 per month), with three two-bedroom apartments currently vacant. Prenderville has advised that the portfolio's estimated rental value (ERV), when fully occupied will be in the region of €275,000 per annum. Based on the investment's €3.75m guide price, the prospective purchaser can expect to secure a gross yield of 7.3pc once the apartments are fully let.
The subject portfolio is situated in a small development of just 40 units. The mix of apartments for sale includes 11 two-beds, one three-bed and two one-bedroom apartments. Brookwood Abbey has been well maintained and upgraded in the last year. The suburban location benefits from excellent transport links including Dublin Bus and the train at Harmonstown. In addition, the scheme provides its residents with underground car parking.