Six medical suites and the management company within St Raphael's Private Medical Clinic close to the Mater Hospital in Dublin 1 are on the market through agent Colliers International for €1.7 million.
This would represent a net initial yield of 8.27 per cent based on the rent roll of €146,787 from the suites and management company.
St Raphael’s is located at 81-84 Dorset Street and is composed of 20 medical suites let in their entirety for around €450,000 on a sub-lease to the Mater Hospital for 20 years from July 2013 with a break option in 2023.
The six suites for sale produce a rent roll of €124,287 while the management company, Hinton Commercial Ltd, generates fee income of €22,500.
These assets, available in one or more lots, should appeal to those looking for easily-managed investments.
Hostel
The same agent is guiding €1.5 million for a hostel in two four-storey over basement Georgian buildings at 38-39 Gardiner Street Upper in Dublin 1.
This property is producing a rent roll of €223,000 from 21 self-contained double-bedroom units which are en suite with living room/kitchen.
Twelve of these units are let by way of monthly residential lease agreements and the other eight are reserved for Airbnb lettings. This property is about 20m from Dorset Street and within walking distance of O’Connell Street.
