Cork's €12m Camden Court lot yields significant return

Block of 49 apartments sold for Nama in 2018 for €5.85m now upgraded with rents to rise to €770,000

Chip off the block. Looking towards the Camden Court apartment block (far right of picture) at Carroll's Quay, Cork.

AN apartment  block investment, comprising 49 units being sold in one lot along with a retail unit, has a €12 million price, nearly twice was it last sold for three years ago, before refurbishment and with a rent roll increase in train.

At this price level, the block with soaring copper-clad roofs and limestone sections and rendered  facades was built to avail of city renewal tax incentives, is expected to be bought by a fund, which will get a 6.45% return.