More commercial property news in brief.
Munchies for Sandyford
Munchies, the specialist sandwich and fair-trade coffee provider, is opening its seventh unit in the Beacon South Quarter in Sandyford.
It has leased a 93sq m (1,001sq ft) unit and is seeking similar sized units elsewhere. "Munchies sees the potential in catering for expanding residential and office populations like those in the Sandyford development which is anchored by Dunnes Stores," says James Hardy of Jones Lang LaSalle which handles Munchies' property requirements.
The Munchies style of fresh food has proved popular with franchisees and there are requirements for units of 50-95sq m (538-1,023sq ft) in suburban office locations and in Cork, Limerick and Galway, he added. Munchies provides specialist sandwiches and coffees and delivers to offices from some of its outlets.
It has outlets in the IFSC, Eastpoint, Lower Baggot Street, South William Street and Sir John Rogerson's Quay. Orders can be taken by phone or through its website.
€2.5m for south quays site
Joint agents DTZ Sherry FitzGerald and Turley Associates are seeking €2.5 million for a development site on the south city quays at Island Street, Dublin 8. There is planning permission to convert a stone warehouse into a three-storey office facility and also to build a six-storey office to provide 1,394sq m (15,000sq ft).
The site of 0.06 of a hectare can also accommodate six car-parking spaces.
Industrial for €800,000
CB Richard Ellis is looking for around €800,000 for an industrial investment at Newtown Industrial Estate in north Dublin.
The park is accessible from the Malahide Road. The end-of-terrace building has 506sq m (5,447sq ft) and includes a two-storey office to the front and a warehouse with mezzanine.
The property is let to the Eastern Health Board on a 35-year lease from 1981 at a rent of €46,000 per annum. The initial return would be around 5.16 per cent. The next rent review is due in 2011.
Investment levels to fall 30%
After a record year in 2007 for direct real estate investment globally, with volumes up 8 per cent year-on-year to €479 billion, Jones Lang LaSalle says in its latest Global Real Estate Capital report that it expects global investment market volumes for 2008 to be down over 30 per cent on 2007. The Americas and European investment markets will certainly see a material decline in full year volumes, it says, and although Asia may be more resilient, volumes will not achieve the heights achieved in 2007.
€1.68m for retail warehouse
A price of €1.68 million is being sought for a retail warehouse of 668sq m (7,190sq ft) at Unit 3, Robinhood Road, about 200 metres off the Long Mile Road in west Dublin.
William Harvey & Co is handling the sale of the building which has a glazed front elevation and accommodation over two floors with a storage area to the rear. The building is finished to a high standard and has lots of car-parking spaces to the front.
Fast food shops for Sandyford
A range of fast food outlets are to move into Beacon South Quarter in Sandyford, which is rapidly becoming known as one of the best shopping locations for home furnishings. Starbucks is to be joined by Eddie Rockets, Munchies, O'Brien's and Godfather Pizza.
Recent openings there include Bo Concept, Kube and Nationwide tiles and bathrooms.
