Dublin city centre residential investment guiding at €2.7m

Agent Colliers International is guiding a price of €2.7 million for a residential investment in Dublin city centre.

Situated at the junction of Harrington Street and Camden Street, the investment comprises two pre-63 three-storey over-basement mid-terraced properties. There are 26 units distributed between the two buildings, 25 of which are occupied and producing an overall rental income of €198,960 per annum.

Numbers 2 and 3 Harrington Street are well located, just a 10-minute walk from St Stephen’s Green and Grafton Street. The immediate area on Camden Street and Harcourt Street, meanwhile, offers a wide selection of bars, restaurants and cafes including Brother Hubbard’s, Cafe Sol, Camden Exchange, Sophie’s and D Two.

The area is also home to a range of major employers including EY and Investec, while Amazon is due to take up occupancy of its new 170,000sq ft office on Charlemont Street in 2022. A host of colleges are also within walking distance including Griffith College, Dublin Business School on Aungier Street and Trinity College Dublin.

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The area is well served by public transport with the Luas Green line stops at Charlemont Place and Harcourt Street and numerous Dublin Bus routes all within a short walk of the subject property.

Colin O’Shea, who is handling the sale on behalf of Colliers, says he expects to see strong interest from both local and international value-add investors. The prospective purchaser can expect to secure a net initial yield of 7.05 per cent based on the property’s current rental income and guide price of €2.7 million.