An easily managed residential development and a vacant commercial mews at Fleming's Place in Dublin 4, held by a company linked to Treasury Holdings, comes on the market today on the instructions of Billy O'Riordan and Declan McDonald of PwC.

Duncan Lyster of Lisney is guiding €1.5 million ahead of a public tender for six modern two-bedroom apartments and six car parking spaces in Durrow Mews. Five of the six apartments are let and producing a rental income of €68,000.

The red-brick building dates from the 1980s and, according to the selling agent, a new owner might choose to upgrade the units.

“We expect strong interest for what is a rare enough opportunity to buy a self-contained modern apartment building with its own car parking facilities in Dublin 4,” says Lyster.

The complex will be of particular interest to investors planning to avail of the Capital Gains Tax exemption. Tenders will close on December 3rd.

Commercial building

Also for sale is a three-storey vacant commercial building extending to 115sq m at 19 Fleming’s Place. This is likely to be of interest to occupiers, investors or developers in a position to upgrade it.

Lisney is seeking offers in excess of €300,000 for the building, which has established commercial use. Once again, no VAT will be charged on the sale price.