Today's other stories in brief

€1.5m each for Malahide sites

Kevin Flanigan Estates is quoting guide prices of €1.5 million for each of two sites for new houses overlooking the coast at Low Rock near Robswall Castle on the coast road at Malahide, Co Dublin. Planning permission has been granted for the two-storey over basement homes with floor areas of 275sq m (2,960sq ft) and 353sq m (3,800sq ft).

Transactions to rise in Q3

Dublin property consultants CB Richard Ellis said yesterday that some sectors of the commercial property market had been showing signs of an increase in transactions in recent months. While rental and capital values remained under pressure, the agency said it was confident that there “will be a meaningful improvement in transaction volumes in the investment and occupier sectors of the market in the third quarter”.

The agency said in a new report that prime yields had been “demonstrating signs of stabilisation” in recent months although there was, as yet, limited transactional evidence.

500m Pavilions extension

An Bord Pleanála has cleared the way for a €500 million extension to The Pavilions shopping centre in Swords, north Dublin. However, construction is unlikely to get under way for some time because of the banking crisis.

Dominic Deeney of 50 per cent owners Chartered Land said the granting of permission was a significant milestone in its plans for Swords town centre. Irish Life and IPUT, both 25 per cent stakeholders, will have to decide whether they will help fund the next phase.

The development will extend to 63,843sq m (687,200sq ft) and will include anchor stores for the House of Fraser and Marks Spencer. Dunnes Stores, which was among those appealing against the granting of permission for the extension, complained that the proposed signage would “compromise” its brand presence.

€3.1m for 50 acres at Swords

St Margaret’s Golf Club is to seek €3.1 million for a 50-acre parcel of land near Swords, Co Dublin. It includes two three-bedroom bungalows. The land does not have any short term development potential because of its zoning for agricultural use and as a green belt. Property Team Paul Reddy Auctioneers says the bungalows provide a springboard for planning applications to replace them with higher quality homes in an area where it is virtually impossible to secure permission for one-off houses.