News of our latest acquisition of 31 Merrion Square, covered in Business Plus 11.12.17
Most Dubliners believe that the city will benefit from financial and legal businesses relocating to Dublin in the wake of Brexit, by boosting existing SMEs and supporting regeneration, transport infrastructure and job opportunities.
Property investment company South Hill Capital carried out a survey in which nine out of ten respondents felt that the introduction of these companies would in some way have a beneficial impact on existing businesses in the city, while 81% believe there will be more job opportunities.
The common view is that the biggest winners outside landlords will be retail and leisure operators. Four out of five Dubliners anticipate a knock-on effect in the speed of regeneration of previously neglected areas of outer Dublin.
There is some concern, however, about the impact of an increasing population on the city’s already strained infrastructure, with 92% of the 220 people polled worried that there will be a negative impact on traffic congestion, 83% concerned about parking availability and 75% expecting it to get harder to secure school places.
Director Andy Brainin commented: “The level of optimism being expressed here by those who live and work in Dublin is very encouraging. There is a sense that Dublin is finally living up to its potential and making the most of the opportunities that may arise as a result of Brexit. Residents are clearly hopeful that they, as well as the city, will be able to reap the benefits that a cashflow injection will create.”
South Hill Capital is an investor and developer with over €30m of assets in Dublin. It specialises in refurbishing and managing office, retail and residential property in the city, particularly Georgian stock, and has just completed the acquisition of its third property in Merrion Square (pictured) in the last 12 months, at 31 Merrion Square, for an undisclosed sum.
South Hill plans an extensive refurbishment programme to create luxury residential accommodation at number 31, which at present is made up of seven apartments spread over four floors, covering 5,000 sq ft and generating rental return of €120,000 per year. The company expects to a rental value of €225,000 per annum after the refurbishment, almost doubling the income.
The company is currently undertaking a complete refurbishment and conversion of 14 Merrion Square, which will see Grade A Georgian offices delivered on completion in the second quarter of 2018.
See the article for yourself here:
https://bizplus.ie/dubliners-optimistic-brexit-effect/