Anyone looking to take a significant position in the Irish private rented sector will be taking a closer look at the Marker Residences, currently being offered for sale by the Dublin office of agent Savills.
An asking price of EUR40 million has been put on the block, containing 84 apartments on a site overlooking Dublin’s Grand Canal Docks. The block, which also includes a small commercial element of 898 sq metres, is effectively fully let and generates around EUR2.5 million a year in rental income.
The block is sure to be of interest to Canadian residential investor CAPREIT which, through its newly established Irish company IRES REIT, is already making significant inroads into the Irish market, as reported here.
Savills describe the block as “one of Dublin’s most prestigious residential developments” with the property offering “a rare opportunity to acquire a fully income producing trophy asset”. More details here.