The Millennium Tower is a landmark development at Charlotte Quay overlooking Grand Canal Dock in the heart of the Dublin Docklands. Built in 2000, number 47 has stunning views but was in tired condition as in its original condition. The property was sold for €540,000 as an investment property. In its closing condition the rental value was approximately €2,000 per month. Owen Reilly recommended Think Contemporary to the purchaser (an Irish investor living overseas) to fully refurbish the property to target corporate tenants.
The renovation involved a new kitchen, bathroom, all new flooring, doors and painting throughout. New furniture was acquired and the styling was in line with the target market. The total cost came to €32,000.
The property has just been let for €2,750 per month to a corporate client. This represents a a return of 28% on the €32,000 investment by the client. Money well spent!
“Think Contemporary were delighted to be involved in such a landmark building. Our approach to the project was to create a young and fresh new interior for the apartment, which would lend itself to this exciting neighbourhood.”
The Think Contemporary Team.