SHORTS:NORTH'S PROPERTY showed last week that an auction can still be the best way to sell some types of property.
A retail and office building at South Great George's Street in Dublin 2 was sold under the hammer for €595,000 – the disclosed reserve price.There were two bidders for the building which is currently producing a rental income of €54,000 from the Acapulco restaurant on the ground floor and basement. The office space on the three upper floors is vacant.
Galway shop for rent again
ONE OF THE best located shops in Galway city centre, formerly occupied by Benetton, is back on the letting market after being vacant for a considerable time .
Joint letting agent BNP Paribas Real Estate and Rooney Commercial are quoting a rent of €150,000 per annum for the shop at the junction of William Street and Castle Street, beside one of of the entrances to the Eyre Square shopping centre. The four storey over basement building extends to 258sq m (2777sq ft) and has a ground floor area 73sq m (786sq ft). The first floor also has retail use.
Lidl opens store in Stillorgan
THE GERMAN discounter Lidl is shortly to open a new store directly opposite Stillorgan shopping centre in Co Dublin.
The company has agreed letting terms for 1,624sq m (17,481sq ft), the former Reids Furniture outlet in Stillorgan Plaza which is currently being upgraded. A store of this size in a prosperous suburb like Stillorgan would normally rent for around €400,000 per annum.
Agent Kelly Walsh, who handled the letting, is also reporting strong interest in two adjoining shops which have a combined floor area of 320sq m (3,444sq ft). These are likely to attract rents of €322 per sq m (€30 per sq ft). The two shops and the new Lidl store are serviced by a basement car park which has been upgraded and fitted with new lifts and travelators.
Garvan Walsh said the high level of interest in the former Reids shop and the willingness of traders to take a long lease demonstrated that there were still plenty of retailers on the look-out for good trading locations.
The complex adjoins the Stillorgan Ormonde Cinema which has also recently been refurbished.
