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HWBC have successfully sold No. 10 Harcourt Street, Dublin 2 for a price of €1.3m compared to a €1m guide price. This price equates to €313 per sq.ft capital value.
The property comprised a four storey over basement mid-terraced Georgian building extending to approximately 4,144 sq ft. The income was €78,796 p.a. which provided the investor with an income yield of 5.8% with potential to grow the income yield by letting the two vacant office suites on the 1st and 2nd floors.
The investment was ideally located approximately 100 yards from St. Stephen’s Green in the heart of the CBD.
Jonathan Hillyer, who sold the investment on behalf of a private client, commented ‘there was good interest in the sale resulting in a handful of strong bids above asking which reflected the rarity of the opportunity. The timing of the sale was just right as investor confidence continues to grow in Irish real estate fundamentals.”
