BRIEFS:A PROMINENT two-storey retail premises along the seafront at 360 Clontarf Road, Dublin 3, is to be offered for sale at €475,000 through Stephen McCarthy of Savills.
The ground floor retail unit extending to 157sq m (1,690sq ft) was formerly occupied by the Oddbins off licence.
Even without a retailtenant the building is producing rents of €30,000 per annum – from an advertising hoarding on the gable of the building and a Vodafone receiver antenna.
Price drop at business park
DTZ SHERRY FitzGerald has dropped the asking price from €900,000 to €550,000 for the former APC industrial premises at the IDA Clonshaugh Business and Technology Park in Dublin 17.
The 941sq m (10,138sq ft) building includes two-storey offices at the front and stands on a site of 1.08 acres.
The park is accessed directly off Oscar Traynor Road which provides a direct link to the M1, M50 and the Dublin Port Tunnel.
On the move at CBRE
ESTATE AGENTS CBRE has appointed Mark Smyth as senior director of the firm’s office agency team and of the business development division.
The agency has also announced the appointment of Alan Moran as an associate director in the office department; Sarah Ward as associate director in the global corporate services department and Natalie Brennan as associate director in the capital markets department.
‘All-in rents’ offer at office suites
AN INVESTOR with a range of office suites at Q House in Sandyford, Dublin 18, has come up with a novel way of finding tenants.
Rockwood Business Centre is to offer “all-in rents” for suites capable of accommodating from one to five people. The fully furnished suites, costing from €600 to €1,200 per month, come with a sophisticated telephone system, Cat 6 computer cabling and air conditioning. Car parking is available. Arthur Ryan property consultants are handling lettings.
Ground-floor store on the Raidar
THE JERVIS shopping centre in Dublin city centre has announced that the highly successful mixed-brand trader Raidar will be opening a new outlet on the ground floor mall in August. The company also has outlets at Dundrum and Stephen’s Green, and a concession in Debenhams.
Raidar is likely to be paying about 10 per cent of its turnover, which is expected to equate to €140,000 per annum. Darragh Cronin of letting agent Savills said they were adding a variety of international labels not previously represented here.
Cronin is quoting a rent of €235,000 for the last available shop in the centre, a unit of 575sq m (6,200sq ft) at upper ground floor level. A rent of €235,000 is being quoted.
Temporary lettings at ‘significant’ level
A NEW STUDY by Savills estate agency has found that while Dublin’s high streets have high occupancy levels, a “significant” amount of retail space is let under temporary arrangements.
There are 11 shops available on Grafton Street, equating to 1,700sq m (18,300sq ft) or 5 per cent of total retail space on the street. Five of these are trading on short-term leases.
In the Henry Street/Mary Street area, five shops are now available with a total retail area of 860sq m (9,257sq ft) or 1 per cent of the entire retail space. All these units are currently trading.
Joan Henry, director of research at Savills, said that rents in both city centre locations had fallen by between 50 and 60 per cent. At best rents were expected to stabilise close to the 2012 levels.
Although there had been a minimal amount of investment on the high streets in the past two years, yields on over-rented properties were now in the region of 7.5 per cent.
Sixth Irish outlet for Apple reseller
COMPU B, Ireland’s Apple reseller, has opened its sixth Irish outlets at The Blanchardstown Centre in west Dublin. It also has a store in Grafton Street.
The company is understood to be have agreed a rent of €165,000 for the 130sq m (1,400sq ft) unit.
Another trader due to move in is US footwear retailer Foot Solutions, which has 240 outlets worldwide. The new store will have a floor area of 80sq m (860sq ft).
The US-based retailer Cell Again, which specialises in mobile phone accessories, has also rented a 45sq m (485sq ft) shop opposite Eason’s on level one.
The lettings were handled by BNP Paribas Real Estate and Jones Lang LaSalle.
JD Sports and H&M open stores
UK MULTIPLE JD Sports and international fashion chain H&M are to open new stores at The Square in Tallaght, Co Dublin.
JD Sports is taking over the 400sq m (4,305sq ft) former Champion Sports shop where the old rent was about €275,000 per annum.
An even bigger coup for the centre is the decision by H&M to take a unit of 1,100sq m (11,840sq ft) on the level 2 where it will join other fashion traders such as New Look and River Island. H&M is understood to have agreed a rent equivalent to about 7 or 8 per cent of its turnover.
Karl Stewart of letting agent DTZ Sherry FitzGerald said the rents now being agreed at key shopping centres here were broadly in line with those available in other European countries.
The Square received a major boost recently when the newly refurbished cinema complex was reopened.
