Portfolio of west Dublin apartments on sale for €13.5m-plus

Another Dublin housebuilder is to avail of the strong demand for apartments by offloading a portfolio of 67 near Kempton Vale in west Dublin. The complex is within five minutes’ walk of Coolmine railway station.

Ross Harris of Cushman & Wakefield is seeking in excess of €13.5 million for the 67 one-, two- and three-bedroom apartments, which were built around 2008 by developer Larry Keegan. They produce a current rental income of €990,180 and the deal will show a net return of 7.02 per cent.

The Windmill Collection includes six one-beds, which are generally renting at about €1,150 per month; 60 two-beds, which bring in about €1,250 each; and one three-bed, which is rented at €1,400.

The selling agent says the up-to-date market rents for the apartments would be €1,300 for one-beds, €1,550 for two-beds and €1,800 for three-bed units.