Grattan Court East, Dublin 2, Ireland - Below Market Value Investment Properties
Grattan Court East, Dublin 2, Ireland - Below Market Value Investment Properties
Six units comprising of 5 x 4-bedroom houses and 1 x 3-bedroom duplex penthouse apartment.
The houses were newly constructed and the seller was the developer. The location is in the prime residential area of South Dublin City, which is located very close to the Silicone Docks.
An exclusive development of five luxuriously appointed townhouses and one duplex apartment
The entire is currently leased to a serviced apartment operator generating an annual gross income of €360,000 per annum
Constructed in 2016, the units are finished to an exceptionally high standard with stunning design features and finishes throughout
City Centre location close to “Silicon Docks” and the traditional Central Business District ensuring strong continued occupational demand
This property is now offered with a fully bonded 2 year rental guarantee at €360,000 per annum.
Price: £7,100,000 (valuation at £8,000,000)
YOUR PURCHASE WILL EARN A LUXCASHBACK REWARD
YOUR PURCHASE WILL SUPPORT GOOD CAUSES VIA LUXGIVEBACK
Please click on the image to enlarge (opens in a new window).
Addresses
Units: 13, 14, 15, 16, 17 & 18 Grattan Court East, Dublin 2, Ireland.
Rental Income
Net rental income is €355,000 per annum.
The tenant acts as a Property Management Agency and facilitates the placement of Sub-Tenants.
Valuation
Savills valued the properties at €8 million. There is also €120,000 worth of furniture in the properties and included in the sale. The valuation was based on a 4.5% yield, which is in line with high spec newly built properties in the South Dublin area. We are selling at a 5% net yield.
Sale
A Limited Company owns six of the properties. The company is being sold or the properties in them. A share sale will be a more tax efficient for the buyer in relation to stamp duty. The buyer can also take over the mortgage with a loan value of €4,650,000.