Kennedy Wilson Buys Irish Luxury Apartment
Kennedy Wilson has acquired The Alliance, a luxury residential high-rise in Dublin, marketed by Savills on behalf of receivers Grant Thornton. The nine-storey property sold for €40 million. The property received more than 14 bids from investors.
The Alliance is located at The Gasworks and comprises 210 apartment units — 202 of which are two-bedroom units, along with eight one-bedroom apartments on the ground floor — and is 97 percent occupied. The two-bedroom units are currently let for an average of €1,400 per month, and the property has gross annual income of approximately €3.25 million.
The Alliance is located in a circular struct