The portfolio is producing a current net income of €524,000 per annum, and offers the prospective purchaser the opportunity of a 4.66 per cent net initial yield. The gross annual rent payable for the 21 three-bed and 19 two-bed units is €362,355. The lease allows for a mix of three and four-yearly rent reviews linked to the Consumer Price Index (CPI), with the next rent reviews due in the third and final quarters of 2022. The leases allow for rent reviews, linked to the CPI , every four years, with the next rent reviews due in the third and final quarters of 2022 and 2023. The total gross annual income is €617,865, and the current net income is €524,846 per annum after allowing for annual service charges.

Source: The Irish Times June 09, 2021 06:41 UTC