The entire portfolio is producing a rent roll of €156,840 per annum with review potential to €172,765 according to the Healy Hynes of agents REA Hynes. “A selling price of €1.75 million would provide a net return for a new owner of 8.9%”. stated Mr. Hynes.
The sale comes at a time when sentiment is improving and agents are reporting increased rents and limited new supply. Healy Hynes says their research had shown that apartment values have increased with a rise of 26 per cent. “Despite increases however, apartment values remain over 70% below their peak. With rents rising we are at a turning point in the cycle.” He concluded.