Block rate for investors in Tralee apartments

THE sale of two residential apartment blocks, set to have rents rise to c €400,000 per annum after imminent reviews, is set to strike a chord with multi-let investors — especially as the blocks in Tralee, Co Kerry, are not in a rent pressure zone and thus are unaffected by the new, rent-limiting measures introduced in recent months by Government.

Listed for sale at €4.25m are the fully occupied and private investor-owned Riverville House, and Riverweir House, in Oakview Village, about a kilometre north of the Kerry capital off the Brewery Road.

They’re part of a larger 195-unit residential scheme developed between 2005 and 2008, and are now for sale in two blocks, via Cushman & Wakefield in Cork and Limerick, with Sherry FitzGerald New Homes.