More commercial property news in brief.
€500,000 for Inchicore shop
Arthur Ryan Property Consultants is offering for sale or to rent an own-door office suite beside the Grand Canal Basin at 6 The Anchorage, Ringsend Road in Dublin 4. The 226sq m (2,433sq ft) unit is fully fitted out and comes with computer cabling. It would suit a small to medium-sized professional practice. The asking price is €1.94 million while the rent is €88,500. There are three car-parking spaces.
Ouzo's acquires Dalkey lease
Restaurant operator Padraig Hanley of Ouzo's Restaurant has acquired the lease of the former Tiger Becs restaurant at Castle Street in Dalkey, Co Dublin.
The premises extends to 183sq m (1,970sq ft) and has a rent of €72,500 per annum. The new owners plan to revamp the building and run it as a new Ouzo-style restaurant.
CB Richard Ellis, who handled the assignment of the lease, said the strong interest in the restaurant underlined the demand for such premises in affluent south Dublin locations.
Milano for Dun Laoghaire
The Milano restaurant chain is also pushing ahead with its expansion plans, having just completed contracts to open a new outlet in the Harbour Square development opposite Dún Laoghaire Dart station.
The trader will occupy 260sq m (2,800sq ft) on the ground floor of the highly successful mixed-use retail, office and residential development on the site of the former Dún Laoghaire Harbour Master's yard.
It was redeveloped on a joint venture basis by Earlsfort Developments and Bennett Developments, and includes 141 apartments, 5,696sq m (61,311sq ft) of offices, a crèche and 1,000sq m (10,764sq ft) of restaurant and retail facilities. Joint agents Lisney and HWBC are marketing a small number of retail units which range in size from 185 to 205sq m (1,991 to 2,207sq ft). There are also three floors of offices available with a floor area of 1,400sq m (15,070sq ft).
€795,000 for Waterford offices
DTZ Sherry FitzGerald and Sherry FitzGerald John Rohan are seeking offers in the region of €795,000 for the Fáilte Ireland building at 41 The Quay in Waterford. The terraced premises extends to 278.5sq m (2,998sq ft) and, subject to planning permission, could be converted for retail use.
Wexford pub makes €270,000
Everyone knows that pub prices have been falling because of the new drink driving laws. Estate agent Morrissey's still managed to sell a small country bar at auction last week, one that has not traded for 10 years and is in particularly poor condition.
Goslin's licensed premises at Ballycanew, Gorey, Co Wexford, made €270,000 under the hammer, reflecting the value of the licence and the site of 0.06 of a hectare (0.14 of an acre) on which the pub stands.
Pub licences were selling for €180,000 at the start of this year and were bought mainly by owners of convenience stores and petrol filling stations. But with the demand from those businesses largely satisfied, licences are now making only €150,000 "and are falling in line with petrol prices", according to one agent.
Magee for Dundrum €1.3m for former D14 bank
With many retailers postponing expansion plans where they have not already made legal commitments, it is good to note that Magee Clothing is proceeding with the opening of a flagship store in the new Fashion Avenue at Dundrum Town Centre. Magee will be paying a rent of €400,000 for a 183sq m (1,969sq ft) shop next to a unit to be occupied by Hamley's toystore.
Magee, who design and supply mainly suits for men and women to independent traders throughout Ireland, also operates a store on Wicklow Street, a concession unit in Arnotts department store and the original Magee store in Donegal town. Its new location in Dundrum will be greatly helped by its proximity to the Harvey Nichols department store.
CB Richard Ellis advised Magee while Bannon Commercial acted for the landlords.
D4 office suite to buy/rent
Estate agent Owen Reilly is quoting €500,000 for each of two ground floor commercial units at Emmet Road in Inchicore, Dublin 8. The two units have floor areas of 64sq m (689sq ft) and come with a toilet, kitchen and CAT 5 cabling. They are likely to appeal to a range of companies, including dentists, solicitors and bookmakers. Purchasers will be able to avail of valuable tax breaks.
A new trading opportunity will arise shortly at Roebuck Road in Clonskeagh, Dublin 14, when the Bank House goes for sale by private treaty. DTZ Sherry FitzGerald is guiding €1.3 million for the two-storey detached block which has 86.6sq m (933sq ft) at ground floor level and 132sq m (1,421sq ft) overall. The former Bank of Ireland building has been occupied in recent years by Mortgage Masters.
