Investment opportunity of 32 apartments in Citywest

By William O’Connor 

A MULTI-Family investment opportunity has come on the market in Citywest.

The Round Garden development close to Saggart Village comprises of 32 apartments set within a walled courtyard with a guide price of €7.25 million.

The round garden development 

The development comprises of a mix of one bed plus study, two beds and three beds with surface car parking spaces.

Selling agent Savills say current rental income for the development is approximately €560,000 pa representing a net initial yield of 5.91 per cent.

Rental levels currently average €1,400 per month for one-bedroom apartment, €1,450 per month for two-bedroom apartment and €1,750 per month for three bedroom apartment.

The development is in an excellent location which is a five minute walk from the Saggart Luas stop while adjoining Citywest Hotel and Saggart Village.

Shane Corby of Savills, who is handling the sale told The Echo: “The current supply/demand imbalance has resulted in strong performance in the multi-family sector. The scheme are high yielding and have a number of short-term value-add initiatives so we expect good interest from a variety of investor types.”