Georgian building guided at more than 800,000 has rent roll of nearly 89,000

First published: Wed, Jun 24, 2015, 01:02

Tom Fahy of Knight Frank is currently marketing a four-storey over basement Georgian building at the corner of Dominick Lane and Lower Dominick Street in Dublin 1.

He is also looking for a buyer for a modern apartment building at 1 Dominick Lane in the same area of the city.

The Georgian, which has a guide price of more than €800,000, is let in its entirety to Portobello School Ltd on a 25-year lease from 2001 with five-year rent reviews.The current rent roll of €88,780 will give a new owner a net initial yield of 10.6 per cent. The building has an overall floor area of 394 sq m (4,240 sq ft).

The purpose-built apartment building, which has a guide price of €950,000, is producing a rental income of €71,620. It includes eight one-bedroom apartments as well a self-contained office and crèche on the ground floor let to Executive Nannies on a 22-year lease from 2004 at a rent of €15,220. The gross yield in this case will be 7.5 per cent.

The two investments are for sale in one lot or separately.