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Portfolio of apartments sells with contracts signing in 72 hours

A company associated with the Michael Whelan-founded Maplewood Residential has purchased 14 apartments at Brookwood AbbeyArtane, Dublin 5, for close to €3.35 million.

The portfolio includes 11 two-bedroom apartments, one three-bed home, and two one-bedroom units, which, with five apartments currently vacant, produce a rent roll of €178,000.

According to Ellen Prenderville of QRE Real Estate Advisers, when fully let the block will bring in about €275,000 in total rents, reflecting a gross yield of 8.2 per cent.

QRE handled the fast- paced sale, which ensured that contracts were signed within 72 hours. This was in contrast to most private treaty sales, which can take a prolonged period to complete.

7th November 2018

https://www.irishtimes.com/business/commercial-property/portfolio-of-14-artane-apartments-sells-for-almost-3-35m-1.3688268

written by info@qre.ie

November 2018

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