Five high-quality apartments in a single block at Belmont Avenue in Donnybrook, Dublin 4, are to be offered for sale on the instructions of receiver WK Nowlan Associates, who are acting for Bank of Ireland.
Estate agents Turley Associates have set a reserve price of €1.1 million for the six-year-old residential units which are currently producing a rent roll of €80,000 per annum.
The largest apartment is a three-bedroom duplex unit with a floor area of 100sq m (1,076sq ft). There are two, two-bedroom homes extending to 71 sq m (764 sq ft) and two one-bedroom units with 50 sq m (538 sq ft). There are two off-street car parking spaces.
Michael Turley of the selling agents said the well-located investment would appeal to people planning to set up their own self-administrated pension fund.
He said that because the apartment block dates from 2006, it would also be of interest to investors planning to avail of the suspension of capital gains tax announced in the last budget. The reduction in stamp duty from 9 to 2 per cent would also be an incentive for purchasers.
