A round-up of today's other commercial property stories in brief
Caledonian Life takes space at Georgian on Green
Caledonian Life has leased 1,079sq m (11,614sq ft) on the ground and first floors of a Georgian building on the east side of St Stephen's Green in Dublin 2. Jones Lang LaSalle was quoting €484 per sq m (€45 per sq ft) and €4,000 for each of the nine car-parking spaces.
Caledonian Life is the broker division in Ireland of the Royal Liver Group and is one of the country's leading providers of protection and protected investment products. They are moving back into the city from Westland Park in Dublin 12 and will occupy the building under a new 10-year lease. The offices were previously occupied by Barclays Bank and are owned by the Irish Airlines Pension Ltd.
Blarney hotel on 11 zoned acres for over €20 million
The former Blarney Park Hotel on 11 acres in Blarney, Co Cork, has come on the market through DTZ Sherry FitzGerald and Savills HOK. The expectation is that, because of its zoning, the land will be used for a new town centre scheme. Though the hotel has been stripped of its fittings, a modern leisure centre on the site is still operating. The property is likely to sell for over €20 million.
Ready-to-go mixed-use site in Rathcoole for €5.2 million
Colm McEvoy Commercial is quoting an AMV of €5.2 million for an apartment site at Main Street, Rathcoole, Co Dublin, which is for sale by private treaty. The site of 0.52 of a hectare (1.27 acres) has full planning permission for 29 apartments, 507sq m (5,457sq ft) of retail space and 185sq m (1,991sq ft) of offices.
Vodafone agent pays €824 per sq m for space at Sligo centre
King Communications, an agent for Vodafone, is the latest tenant to move into the recently opened Johnston Court shopping centre in Sligo. It will be paying a rent of €824 per sq m (€76.5 per sq ft) for a unit of 37sq m (398sq ft). Douglas Newman Good Commercial handled the letting.
Shannon industrial makes €2m less than asking price
The US-based Summit Reality Group, manufacturer of medical equipment including zimmer frames, has bought the former Flextronics building at Shannon for €9 million, €2 million less than the asking price. The eight-year-old building has a floor area of around 9,290sq m (100,000sq ft), including 1,393sq m (15,000sq ft) of offices. The new company is expected to create up to 250 jobs over the next five years, according to Keith Begley of Lisney who acted for them.
Baritas Cafe takes space at Sandyford office block
Baritas Cafe has leased space for a new restaurant at The Forum building on Ballymoss Road in Sandyford, Co Dublin. It will be paying a rent of around €70,000 for the 167sq m (1,800sq ft) premises which are close to the Sandyford Luas station.
Lisney and Douglas Newman Good were the joint agents on the block which has 96 apartments, own-door offices and four retail units including a Spar store.
Dundalk neighbourhood centre units for rent at €430 per sq m
Jones Lang LaSalle is seeking tenants for five large retail units in a neighbourhood scheme alongside a new Dunnes Stores which recently opened in Dundalk.
Rita Carney of the agency says the shops are perfect for a range of convenience occupiers, such as a café, off-licence, pharmacy, video rental shop, hairdresser or beauty salon. The units range in size from 278sq m (2,992sq ft) to 286sq m (3,078sq ft) and are available at a rent of €430 per sq m (€40 per sq ft).
Strong interest in Georgians
Estate agent Colliers Jackson-Stops is reporting strong interest in office space in Georgian houses in the south inner city. The company recently let 29 Kildare Street to a firm of solicitors at a rent of €420 per sq m (€39 per sq ft) for the second and third floors where the space extends to 72sq m (775sq ft). At 10 Fitzwilliam Square the same agent secured €346 per sq m (€32 per sq ft) for 76sq m (818sq ft) on the third floor. On the same square, a rent of €360 per sq m (€33.5 per sq ft) was agreed for 250sq m (2,691sq ft) of space. Car-parking spaces in the same areas are making €4,000 per annum.
Retail unit to rent at €377 per sq m in Newbridge centre
Colm McEvoy Commercial is marketing a single or double retail unit in Newbridge town centre, Co Kildare. The retail space extends to 465sq m (5,005sq ft) on the ground floor with an additional 158sq m (1,700sq ft) available at mezzanine level. The agency is quoting rents of €377 per sq m (€35 per sq ft) for the ground floor and €107 per sq m (€10 per sq ft) on the mezzanine. The premises, which can be divided in two, is at Cutlery Road, a shopping enclave just off Main Street and opposite the Whitewater shopping centre.
Mulhuddart retail unit with tax breaks for €2 million
A retail investment with valuable capital allowances at The Crescent shopping centre in Mulhuddart, Dublin 15, has come on the market through Savills HOK with an AMV of €2 million. The retail unit extends to 175sq m (1,884sq ft) and is leased by Bradleys Pharmacy at a rent of €85,000 per annum. A purchaser can avail of €1.7 million in capital allowances.
