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Investors to be drawn to two lots in capital

Dublin 3 and 7

Two properties in Dublin 3 and 7 which could appeal to investors have been brought to the market this week by agents QRE.

The more valuable of them is a mixed-use investment property at East Wall near Dublin's North Docklands, which has a €700,000 guide price. The two-storey end-of-terrace property at 147/149 Church Road, East Wall, Dublin 3, extends to 2,907 sq ft and includes a ground floor retail unit let to a supermarket and post office.

Its first floor comprises three one-bedroom apartments with own door access from the street.

Fully let, it produces rents totalling €70,080 per annum, stepping to €72,480 per annum in January 2021, which would equate to a net return of 9.1pc.

The second property is a vacant office suite in The Capel Building, Mary Street, Dublin 7, which might also appeal to owner occupiers. Located on the first floor, it extends to about 1,033 sq ft and is laid out with three cellular offices and a reception.

Brian Kelly of agents QRE says it could be converted to open-plan offices.

He is quoting a €525,000 guide price and points out that it comes with two car parking spaces.

Based on recent lettings within the scheme, Mr Kelly advises that an investor could expect an annual rent in the region of €40,000, which would generate a 7pc initial yield.


Press Release - Donal Buckley, Irish Independent - Business

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February 2020