Prime apartments in Belfast university area put on market
A detached property containing eight apartments in the heart of the university area and eight acres of land in north Belfast are on the market.
Chlorine Gardens, a short thoroughfare that links Stranmillis Road with the Malone Road, has always been a prime student location.
This week a fully furnished apartment building in Chlorine Gardens with the potential to bring in an annual income in excess of £65,000 is for sale, listed by Campbell Cairns.
The detached period property has had an extensive and modernised refurbishment in recent years and has eight units that include a bedsit, and a four-bed apartment. It is for sale for £795,000.
And on the Shore Road, 7.84 acres of level fenced farmland are for sale. The space is suited to grassland and arable usage, according to its agents, O'Connor Kennedy Turtle and JA McClelland & Sons.
The site is described as "an interesting long-term speculative purchase".
In the Republic, Dublin has been labelled "one of the top investment cities in Europe" by German investment manager Partizia Immobilien, which investigated the European residential market recently and first entered the Irish market in 2015. The company's managing director for the UK and Ireland, James Muir, said: "One of the top investment cities in Europe is Dublin. The Irish capital stands out for sharply rising residential property prices and rents, as well as little new construction so far."
Meanwhile, the pace of construction activity in Ireland last month experienced its sharpest rise since June, according to the Ulster Bank Construction Purchasing Managers' Index (PMI).
It showed that activity in the sector accelerated across residential, commercial and infrastructure segments. The headline PMI index hit 58 in December, up from a reading of 56.7 in November. Any figure above 50 indicates expansion, while any figure below indicates contraction.
Simon Barry, chief economist for the Republic of Ireland at Ulster Bank, said that construction firms experienced "strong, and faster rates of expansion in December". He added that the index performance shows a "decidedly upbeat picture" of economic performance at the end of 2017.