The Sunday Business Post, Sunday, July 23rd 2017
By Tina-Marie O’Neill
Residential buyers and investors are likely to be neck-and-neck in the race to clinch this Victorian doer-upper in Portobello,Dublin 8. Dublin-based estate agent Owen Reilly is seeking offers of €800,000 for the well-maintained end-of-terrace redbrick at 31 South Circular Road (SCR).
The period property, which is on the corner of SCR and Victoria Street, extends to 170 square metres. A pre-63 property, it is currently divided into seven self-contained and compliant bedsits.
It has a south-facing rear yard and a garage on Victoria Street, offering potential for investors as a going concern and to residential buyers in search of a city-centre refurbishment project and ultimately an ideally located family home.
“Some of our city-loving clients have chosen from the townhouses here as an alternative to Docklands apartments, and we have observed others trading up from city-centre apartments to red-brick homes in Dublin 8,” said Owen Reilly.
“Were someone to buy this as private home, they would have the potential to create a very decent south-facing city garden. And while he or she makes plans, the buyer will continue to benefit from the rental income,” he said.
Each bedsit within the building has a fully fitted kitchen and its own shower-room, each is fully compliant with rental housing regulation and all of the flats are occupied and generate a current annual rent roll of about €49,320.
The area is home to well-established, leafy streets and a raft of good quality, independent foot outlets and eateries. It is within walking distance of Camden Street, St Stephen’s Green and Harcourt Street and its Luas Green Line, which has led to its attraction among young professionals and young families.
More details are available from the agents at its Dublin 8 branch at 01-4751275 or at 01-6777100.
The Sunday Business Post, Sunday, July 23rd 2017
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