{"id":364784,"date":"2026-03-25T18:20:13","date_gmt":"2026-03-25T18:20:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/364784\/"},"modified":"2026-03-25T18:20:13","modified_gmt":"2026-03-25T18:20:13","slug":"north-dublin-apartment-portfolio-hits-the-market-with-e120m-price-tag-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/364784\/","title":{"rendered":"North Dublin apartment portfolio hits the market with \u20ac120m price tag \u2013 The Irish Times"},"content":{"rendered":"<p class=\"c-paragraph paywall \">Developer Rick Larkin\u2019s Twinlite and its joint-venture partner, Tristan Capital Partners, have engaged Hooke &amp; MacDonald and Knight Frank as joint agents for the sale of 282 apartments at Clongriffin in north <a href=\"https:\/\/www.irishtimes.com\/ireland\/dublin\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/ireland\/dublin\/\">Dublin<\/a>. Two Three North, as it is known, is being offered to the market at a guide price of \u20ac120 million. The price equates to an average of \u20ac425,531 per apartment. <\/p>\n<p class=\"c-paragraph paywall \">Developed alongside the 376 apartments at One Three North, the 282 units in the Two Three North portfolio comprise a mix of 236 private rented sector (PRS) apartments and 46 apartments let to <a href=\"https:\/\/www.irishtimes.com\/tags\/dublin-city-council\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/dublin-city-council\/\">Dublin City Council<\/a> on a 25-year lease (with more than 21 years remaining).<\/p>\n<p class=\"c-paragraph paywall \">The PRS element of the portfolio is 13 per cent under-rented, offering significant reversionary potential once these units turn over. The potential for rental income growth has been improved further by recent changes to Ireland\u2019s rent regulations, which came into effect on March 1st, 2026, allowing market rents to be applied to new tenancies.<\/p>\n<p class=\"c-paragraph paywall \">Should a sale of the portfolio proceed at the \u20ac120 million guide price, the purchaser would be in line for a net initial yield of 4.83 per cent on the PRS element of the scheme and 4.5 per cent on the Dublin City Council income. This equates to a blended net initial yield of about 4.79 per cent and a reversionary yield of 5.47 per cent once the scheme is fully occupied with market rents applied to new tenancies.<\/p>\n<p class=\"c-paragraph paywall \">The sale of Two Three North comes just over four years after  Twinlite and Tristan Capital\u2019s proposed disposal of the 376 apartments at One Three North. While that portfolio was readied for sale at a \u20ac200 million guide price and was the subject of strong interest from potential purchasers, the sale process was abandoned in the face of a series of interest rate increases by the ECB. <\/p>\n","protected":false},"excerpt":{"rendered":"Developer Rick Larkin\u2019s Twinlite and its joint-venture partner, Tristan Capital Partners, have engaged Hooke &amp; MacDonald and Knight&hellip;\n","protected":false},"author":2,"featured_media":364785,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,615,13288,40299,11596,61,60,31541,12563,53833],"class_list":["post-364784","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-dublin","tag-dublin-city-council","tag-hooke-macdonald","tag-housing-demand","tag-ie","tag-ireland","tag-knight-frank","tag-prs","tag-residential-investment"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/364784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=364784"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/364784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/364785"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=364784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=364784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=364784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}