Commercial Property

Shuttered Rialto Cinema sells for €200,000 above guide

Office building at 12 Northbrook Road in Ranelagh offered for letting at €100,000

€100,000 per annum for 12 Northbrook Road, Ranelagh: the house, which extends to 236sq m (2,546sq ft), sold last May for €1.8 million

Tue Nov 7 2017 - 17:00

The former Rialto Cinema on South Circular Road, Dublin 8, has been bought by an unnamed European family for €2.7 million – €200,000 above the guide price. It is not yet known what use will be made of the property but, according to selling agent Conor Mulcrone of BNP Paribas Real Estate, it would suit retail or residential purposes, offices, a hotel or medical use. The ground floor of the former cinema, which stands on a site of 0.3 of a hectare (0.75 of an acre) was previously used as a supermarket.

Georgian in D2 sells for €1m

A multi-tenanted Georgian building at 45 Lower Baggot Street, Dublin 2, has been sold for €1 million. The building currently produces €80,500 in rental income from a number of tenants, including Cafe Sol, William Hill, Barrow & Co Solicitors, the Phoenix magazine and Michael Kelly Architects. The new owner can bank of a net initial return of 7.5 per cent.

Rialto Cinema site, Dublin

Matthew Vanston of BNP Paribas Real Estate, who advised the vendor, said that, apart from the strong yield, the building was bound to benefit from ongoing improvements to the adjoining headquarters of the ESB.

Victorian in Ranelagh to let for €100,000

A mid-terrace Victorian office building at 12 Northbrook Road in Ranelagh, Dublin 6, sold last May for €1.8 million, is to be offered for letting at €100,000 per annum. The house extends to 236sq m (2,546sq ft) over three principal floors and is fitted out for office use. It has four parking spaces to the front.

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John Shannon of Colliers, who is handling the letting, is also quoting a rent of €150,000 for 45 Upper Mount Street, which has a floor area of 403sq m (4,334sq ft) and was recently upgraded. The short-term lease includes three car parking spaces to the rear of the building.

Business unit near airport for rent

An unusual opportunity to rent a modern business unit in Airside Business Park in Swords, Co Dublin, will be handled by Gerard Farrelly of McPeake Auctioneers. He is quoting €167/sq m for Unit A6, which is located close to Ryanair’s headquarters and has 240sq m (2583sq ft) of offices, warehouse and storage space. The unit is within 2.5km (1.5 miles) of Dublin Airport.

Former car showroom in D12 for rent

Agent Coldwell Banker Commercial is quoting a rent of €67,500, plus rates of €15,000, for a ready-to-go letting of the former Carroll & Kinsella car showrooms on Walkinstown Road, Dublin 12.The showrooms, offices and canteen extend to more than 655sq m (7,053sq ft) at ground and first-floor levels and has parking for up to 40 cars.

Ten apartments in Roscommon for €450,000

Ten modern apartments going for sale in Roscommon town at an overall cost of €450,000 will be among the most heavily discounted residential properties on the market since the property crash.

Agent Sherry FitzGerald P Burke says the eight two-bedroom apartments close to the town centre “are in good condition throughout with minor repairs needed”. These have a floor area from 68.5sq m (737sq ft), while the two three-bed units extend to 109sq m (1,173sq ft). The grounds include a communal garden and car parking facilities.

Kildare site with housing permission for sale

Maynooth auctioneer REA Coonan is seeking €480,000 for an infill site with planning permission for a terrace of four three-bedroom houses off Main Street in Celbridge, Co Kildare. There is an existing house on the site which is close to schools, shops and transport facilities.