A residential development in Dublin has been put up for sale for €52.5m (£47m) by Targeted Investment Opportunities.
Savills and Owen Reilly have been instructed to sell the Benson Building at 76 Sir John Rogerson’s Quay.
The 11-storey site is part of TIO’s wider office scheme at the docklands site. The building will offer 72 premium apartments, two retail units, leisure space and 72 parking spaces.
The scheme is expected to complete in the first quarter of 2020. Its current estimated rental value is around €2.9m pa.
Upon completion, it is estimated that the Benson Building will account for around 11% of new residential supply in Dublin’s South Docklands.
Fergus O’Farrell, investments director at Savills’ Ireland business, added that the offer presented a “rare opportunity” to acquire one of only a few PRS schemes in the Dublin docklands.
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