A minimum of €116,000 yearly rent: Inside the landlord attorney general's property portfolio

Embattled attorney general Paul Gallagher, who has this week had to defend his representation of former Independent News and Media directors in a High Court action, owns a property portfolio worth an estimated €8.5 million.

Three of his Dublin rental properties are let for a combined €116,000 a year. Gallagher also lets a further three properties, two residential and one commercial.

Among Gallagher’s holdings is a two-bed apartment in Donnybrook, Dublin 4. Described as “luxurious” and as offering “tranquility and comfort” by estate agent Norths Property, it was let in March of this year for €2,050. A similar two-bed apartment in the same complex was recently sold for €600,950.

Gallagher owns a five-bed rental property in Dublin 6’s Milltown, which in 2017 was let by the same estate agent for €4,000 a month. It was the subject of a report from the Irish Independent after it emerged last year that Gallagher didn’t inform the taoiseach in writing that he’s a landlord before advising against an extension of a ban on rent increases and evictions.  

These two residential properties together return €72,600 yearly rent.

On top of these, Gallagher owns another two apartments in a Dublin 4 complex. Listings of similar apartments point to valuations of €600,000 and €500,000 apiece.

The attorney general also lets commercial properties. One of his commercial holdings in Dublin 4 is let for €44,000 a year. The three-storey commercial property on Donnybrook’s main street is split into three units.

Accounts filed by a tenant to the Companies Registration Office show one unit is let for €25,000. According to a listing on Daft, the top floor is let for €10,000 a year, and the commercial property register shows the remaining unit is let for €9,000.

Gallagher’s primary residence is in Dublin 4’s Ballsbridge. A similar property on the same road is currently listed for €2.6 million while another was listed for €3 million in March of this year. As well as his primary residence, Gallagher owns the property next door, which is used as a commercial office.

These properties are together valued at an estimated €8.5 million. Gallagher also owns a holiday home in Kenmare, county Kerry, not included in this estimation.

Gallagher declined to comment.

G. Thompson

G. Thompson