A fully-let scheme of apartments in Dublin city centre is fresh to the market this week through Knight Frank. It was last purchased three years ago by the Lotus Investment Group for a private client.
Xavier Court, which is guiding €7.8 million, is a modern development of 41 apartments which is producing a rent roll of €626,640 per annum.
The apartments are let under standard short term residential tenancy agreements with rents averaging €1,085 per month for one-beds and €1,300 for two-beds.
“Competing schemes are achieving €1,150 per month for one-beds and €1,550 for two-beds,” says Damien McCaffrey of Knight Frank. “This suggests that Xavier Court apartments are under rented.”
Xavier Court includes 18 one-beds, 21 two-beds and two three-bed units in three blocks which range in height from two to five stories. The three separate apartment blocks, which are situated around a landscaped internal courtyard, are above a secure basement with 41 car-parking spaces.
Apartments at Xavier Court are fitted to a high specification, including marble-tiled hallway floors, granite kitchen worktops, integrated kitchen appliances and an elevator serving all floors.
Xavier Court is located on Sherrard Street Upper close to its junction with the North Circular Road in Dublin 1. It is close to local shops, bars, restaurants, recreational and sporting facilities. The IFSC and prime city centre shopping areas are easily accessible, as is the M50.
