Our Knowledge Centre combines a unique set of useful tools to assist ALL office movers. Use our moving guides, office space calculator, dynamic rental map and other tools to get an idea of what type of office your company needs. We’ll make sure you get there.
Register for FREE now and get full access.
Marlet Property Group has collaborated financially with M&G Investments, and together they have appointed leading real estate firm Savills (London headquarters) to sell and dispose the Dublin Living portfolio. This is a significant move, as Dublin Living is the largest ever portfolio of private sector properties in Ireland. Savills has been instructed to put this portfolio to market at £370.9 million. The Private Rented Sector (PRS) platform is the first of its kind to be offered for sale in the Irish market, and will consist of 1,170 units across four schemes.
Eugene O’Sullivan, London’s leading Chartered Surveyor and Managing Director at Morgan Pryce, explains; “this investment opportunity will most likely turn into a bidding war. Many commercial units (office spaces) will be developed, expanding the number of businesses incoming to the local region.”
The estimated net rental value of the portfolio in the post-Brexit market is £17.8 million. However, with the scheme due for completion between the middle of the 2018 financial quarter and the early part of 2020, the estimated rental figure will likely increase significantly as a result of the critical lack of commercial space and private rented accommodation in Dublin.
O’Sullivan explains; “post-Brexit, the UK and especially London have seen an increase in foreign money being invested in London trophy assets. This influx of foreign cash will be heavily interested in this real estate portfolio in Dublin.”
Furthermore, the portfolio offers a reasonable yield of 4.6%, which is expected to attract many investment funds and affluent private investors.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.
Morgan Pryce treats personal information safely and securely. Read more about how we store and protect information in our Privacy Policy.