The rent of €6,000 a month being asked for 93 Marlborough Road, a three-bedroom, unfurnished home that sold last year for €930,000, has residents of the swish thoroughfare agog at the bullish price being commanded by Hunters Estate Agents.
The completely renovated and extended property has lovely period features, deep- pile carpets and high-spec bathrooms. The fact that it is unfurnished, and is a first letting, will also appeal, says Caroline McArdle, lettings manager at Hunters who is “hoping to get six” for the Dublin 4 property.
Peter Kenny of Colliers International says this figure is the “magic number”, the average rental amount allowed by most corporates for key staff members on secondment. Until now this figure was €5,000 but prices are being pushed upwards because of the dearth of accommodation at this end of the market, he says.
The embassy and corporate lettings sector is landlords’ holy grail, when a company or corporation picks up the tenant’s tab for living expenses. For high-end homeowners it can be a lucrative revenue stream.
Number 49 Upper Leeson Street is another such property. The five-bedroom, three-storey townhouse was purchased quietly off market for €2.7 million last January and is now asking €6,000 a month through Colliers.
“The property has proper en-suite bathrooms, a designer kitchen with an Aga and the kind of high-end fixtures and fittings you’d expect at the top end of the market,” Kenny says.
