Colliers International Complete the Sale of 38-39 Gardiner Street Upper, Dublin 1

Dublin, 6th October 2016 – Colliers International have completed the sale of 38-39 Gardiner Street Upper, Dublin 1 – a substantial city centre investment opportunity with considerable income.

38-39 Gardiner Street comprises two adjoining mid terrace, four storey over basement Georgian buildings. The property was in use as a hostel and laid out to provide 21 self-contained double bedroom units. The buildings were previously used as an ecclesiastical training centre and short-stay accommodation. All units are en-suite and include living room/kitchen. 12 of the units are currently let by way of monthly residential lease agreements. Eight units are reserved for Airbnb lettings with occupancy rates of over 90%.

The property was producing a gross income of approx. €223,000 per annum.

This property is extremely well located, about 20m from Dorset Street. This busy urban location enjoys all the amenities the city centre has to offer. O'Connell Street, Henry Street, the Ilac Shopping Centre and Jervis Shopping Centre are all within a 15-minute walk from the property, while also in close proximity are Croke Park; The Mater Hospital and Temple Street Children’s Hospital. The area enjoys excellent public transport links, with numerous Dublin Bus routes serving the area and a Dublin Bikes station is situated just 60m away.

Stephen Conway of Colliers International, who managed the sale, noted that “interest was particularly strong with the property attracting a large, diverse pool of buyers and operators”.

For more information contact:

Stephen Conway
Phone: 01 633 3700
Email: stephen.conway@colliers.com