Ireland’s largest private landlord, Ires Reit, has closed its latest acquisition, purchasing 128 apartments at Hampton Wood in north Dublin for €40 million.

The listed property group has already started to market these properties in Finglas, most of which are not subject to rent controls, and is looking for €1,500 for a one-bed apartment – unfurnished – with two-bed apartments renting for about €1,850, also unfurnished.

Deposit

The landlord is also looking for two months’ rent as a deposit and one month’s rent in advance. As a comparison, Ires Reit is looking for € 1,304 to rent a two-bed furnished apartment at the nearby Charlestown development, while an existing one-bed furnished unit in the Hampton Wood development is looking for rent of just €1,200 a month.

The purchase of the Hampton Wood development brings the property investment company’s portfolio up to almost 2,600 homes and, according to Investec, this indicates that it now has a 0.5 per cent share of the Dublin rental market, spread across the city.