Other commercial property stories in brief
€220,000 rent for Raglan Road office
Colliers Jackson-Stops is quoting a rent of €220,000 per annum for a Victorian office building at 19 Raglan Road, Ballsbridge, Dublin 4, which was occupied in recent years by Macalla Software. It is located at the junction with Elgin Road and was for many years the headquarters of the ICTU.
The quoting rent for the 339sq m (3,650sq ft) house and five car-parking spaces works out at €592 per sq m (€55 per sq ft). The building has been refurbished, preserving its original period features such as intricate cornice work, high ceilings and original fireplaces. Tenants will also have the use of a large rear garden with mature trees. The agent reckons it will be of interest to companies looking for a corporate headquarters in the embassy belt.
€4m for D4 retail investment
A retail investment at 174 Pembroke Road in Ballsbridge, Dublin 4, is for sale at around €4 million through McCormack Property Consultants. Located opposite the American Embassy, it has two long term leases to well established restaurants.
Chandni Indian Restaurant will enter a new 20-year and one-month lease subject to five yearly upward rent reviews and a tenant break option at the end of the 15th year. Evana Italian restaurant occupies the first and second floors under an existing long term lease from 2003, with 22 years unexpired and five yearly upward reviews. The combined rent is €150,000 per annum and best bids are invited by October 6th.
Over €2.5m for D15 corner site
A corner site of 0.24 of a hectare (0.6 of an acre) just off the M3 near Blanchardstown shopping centre, Dublin 15, is expected to make over €2.5 million when it is auctioned on October 12th by Hamilton Osborne King. It is at the junction of the Huntstown Way and Blakestown Road and, says the agent, planning discussions with Fingal County Council have indicated that the site would suit a scheme of 25 to 30 apartments.
€7m for Enniscorthy site
A ready-to-go 3.08-hectare mixed-use site at St John's Mills, Enniscorthy, Co Wexford is on the market through CB Richard Ellis with a guide price of €7 million. The property has full planning permission for 86 apartments and a 71-room hotel with conference facilities, bars, restaurant and leisure centre. The site overlooks the Slaney near Enniscorthy town centre. Tenders are invited by October 18th.
Over €1.75m for pharmacy outlet
Lisney is seeking offers over €1.75 million for 290 Harold's Cross Road, which has the benefit of a new 20-year lease to the McSweeney pharmacy Group at an initial rent of €80,000 per annum subject to five yearly market rent reviews.
The property, which trades as Walshe's pharmacy, is among a parade of retail units and comprises ground floor retail and storage accommodation of 114.1sq m (1,228sq ft) with 51.4sq m (553sq ft) of offices and stores on the first floor. Lisney has invited best and final offers by noon on October 6th.
New tenant at Bray Retail Park
The UK furniture retailer Land of Leather is the latest tenant to join Woodies DIY and DID Electrical in Bray Retail Park. The furniture outlet will be paying around €280 per sq m (€26 per sq ft) for a store of 870sq m (9,365sq ft) under a 25-year lease. This is their eighth outlet in the Republic.
DTZ Sherry FitzGerald, which handled the letting, said that the last remaining unit in the park of 864sq m (9,300sq ft) is available at around the same rent level.
€1.75m for Sliderobes outlet
The Sliderobes unit in Stillorgan Industrial Estate is on the market through CB Richard Ellis with a guide price of €1.75 million .The property has a high quality two-storey unit of 338sq m (3,638sq ft) with a large open-plan showroom at first floor level along with a workshop/storage area at ground floor level . There is car-parking to the front. Sliderobes is relocating to a new purpose-built unit in Redcow Retail Park.
Sandyford HQ for rent
Colliers Jackson-Stops is marketing an office building, Millbank House, on Arkle Road in Sandyford. The 1,881sq m (20,247sq ft) building has a profile onto Blackthorn Road and is only two minutes walk form Stillorgan Luas Stop. There are 41 car-parking spaces available. The rent is €310 per sq m (€29 per sq ft) and €1,500 per car-parking space per annum, available under flexible lease terms. The agent says the building would be suitable as a corporate HQ. It is also available on a floor-by-floor basis.
Work starts on D11 business park
Rohan Holdings has started building phase one of North City Business Park on the North Road, Dublin 11. The business park fronts the M50 and the first phase comprises 10 acres of zoned and serviced industrial lands, leaving a further 35 acres to be developed in future phases.
Planning permission has been granted for 15,000sq m (161,459sq ft) of industrial accommodation. This includes a starter/enterprise unit development of 27 units with sizes from 204-487sq m (2,196-5,242sq ft). There are also four hi-bay facilities from 1,124-2,291sq m (12,100-24,660sq ft) which have dedicated service yards.
The first units are due for completion in spring 2007, and the agent says significant stamp duty savings may apply for early purchasers. Prices are from €2,142 per sq m (€199 per sq ft) and rents are from €128 per sq m (€11.90 per sq ft).
