Bedsit business a boost to urban renewal

Bedsit business a boost to urban renewal View Gallery
40 Synge Street: upgrade has helped increase annual rental income to €74,568

Pre-63 properties are attracting major investors – and their refurbishment is bringing neglected city centre properties back to life

One of the unspoken benefits of rising rents in Dublin has been the upgrading of pre-63 or multi-tenanted bedsit properties as well as the return of upper floors of retail properties to residential accommodation. In the last 12 months, some investors who had bought these properties after the crash have been selling them on at attractive profits and reinvesting in refurbishment of similar properties. (The term pre-63 is used to describe a property that was divided into multiple flats or studios prior to the introduction of the Local Government Planning and Development Act of 1963.)

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