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€9m For Dublin Apartment Scheme...

THE CHOICE of investment properties available to Irish and overseas buyers is steadily increasing with the launch today of a marketing campaign for an entire development of 62 apartments and penthouses next to the North Circular Road entrance to the Phoenix Park in Dublin 7. David Browne of agent HT Meagher O’Reilly is seeking €9 million for the high quality scheme which was completed 12 years ago by Tony Gannon’s Unicorn Homes. The investment will show a net yield of 7.78 per cent. The broad mix of apartments in Park Lodge are fully occupied and are producing a rent roll of €823,000 per annum. The location has proved extremely popular from the start – beside the Phoenix Park and five minutes walk from the Luas at Heuston Station which travels past the Four Courts to the city centre. The five-storey apartment block is also a few hundred yards from the newly-built Criminal Courts of Justice on Infirmary Road. Park Lodge was developed on the site of the old Park Lodge Hotel, onc