It is reported that three apartment developments, two of them in Dublin city centre and one in Cabinteely, a south Dublin suburb, are to be sold in single lots at substantial discounts. One of the city centre developments, located at the rear of the Guinness Brewery, has a guide price of €1 million for ten apartments with a reported overall rent roll of €111,240. The second city centre development, located in the Dublin docklands is guiding €12.5 million for 81 apartments 64 of which are reportedly currently let and bringing in a rent of €85,630 per month. The Cabinteely development consists of 44 high-end apartments and penthouses and is guiding €5.5 million.
It is reported that the former Dublin headquarters of the Commissioners for Irish Lights in the welllocated Dublin 2 are to be offered for sale at €2.85 million – an 89% drop on the reported €26 million paid for the block in 2006. The previous owners had reportedly secured planning permission to redevelop and enlarge the block with a reported end value of €50 million.
It is reported that the former Bank of Ireland headquarters in Dublin 2 is on the market with a guide price of between €30 and €35 million, a substantial discount on its reported sale price of €212 million in 2006 – the peak of Ireland’s property boom. The complex, which extends to 20, 493 sq m has the advantage of a prestigious Dublin 2 address and excellent transport links. The headquarters of Ireland’s other pillar bank, AIB, has reportedly been snapped up by a European syndicate for just over €70 million, which reportedly sold at the height of the property boom for €177 million.