A round-up of other commercial property news in brief
Rent for showrooms reduced
A motor showroom and forecourt at Mount Pleasant Avenue, Ranelagh, Dublin 6, has been let to Thrifty Car Rentals at around €35,000 a year.
DNG Commercial said the rent agreed, almost half what it was previously, reflected the slowdown in the motor industry. The showrooms extend to 118sq m (1,270sq ft) and look out on to a 435sq m (4,682sq ft) forecourt.
First for estate services
BNP Paribas Real Estate has been named number one real estate services agent in Europe and fifth globally by the magazine Property Week. The league table is based on the turnover (fees and profits) of market players. BNP had a turnover of €665 million and profits of €138 million in the year up to December last.
Firm must pay €3.525m
Eastground Investments Ltd, the company which recently secured planning permission to build a 325-bedroom hotel by the M1/M50 interchange near Dublin Airport, will have to pay a development contribution levy of €3.525 million to Fingal County Council.
The company lost an appeal to An Bord Pleanála in which it argued that it should not have to pay the charge in respect of the basement car-park. The board found otherwise. The underground car-park is designed to accommodate 469 cars.
Sandyford suites for rent
Office rents in some of the Dublin suburbs are continuing to fall because of the slowdown in the market. Pat Nolan of Feasible is currently offering office suites for rent in The Courtyard, Carmanhall Road in Sandyford at €148 per sq m (€13.75 per sq ft). The own-door suites range in size from 82sq m (880sq ft) to over 600sq m (6,500sq ft) and are located on the first floor of the five-year-old building.
Lost Weekend for Sandyford
Beacon South Quarter (pictured), off the M50 in Sandyford, is rapidly becoming the top Dublin location for house furnishings. An Irish company, Lost Weekend, specialising in furniture and art, is preparing to open a shop of 464sq m (5,000sq ft) in the centre. The rent is likely to be in the region of €80,000. CB Richard Ellis is the letting agent.
