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.
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.
