Set of apartments in north docklands on sale for €7.5m

A further opportunity to buy into a multi-family residential development in the north Dublin docklands goes on the market today when 28 apartments are offered for sale at €7.5 million.

Enda Moore of Hooke & MacDonald is handling the sale of the mix of one-, two- and three-bedroom apartments at Castleforbes Square, one of the last residential developments to have been completed by Liam Carroll's Danninger company before it collapsed. The latest sale is being carried out on behalf of statutory receiver David Carson of Deloitte.

The 28 apartments are in four of the five blocks which make up Castleforbes and come with 40 basement parking spaces. The development has 311 apartments in all.

The 28 homes are all effectively let with the exception of one which is available for viewing purposes. The 27 homes are producing a gross rent of €437,100, averaging €1,080 per month for the nine one-bedroom apartments, €1,330 for the nine two-bedroom units and €1,660 for the 10 three-bedroom apartments. Mr Moore said that, given the strength of lettings in Castleforbes Square, there was obvious potential to increase the rent roll above the current €437,100.