A round-up of today's other stories in brief
Jones Lang LaSalle makes Forbes list of best big firms
Jones Lang LaSalle has become the only real estate company to be included on the prestigious Forbes Platinum 400 which aims to identify the best big companies in the world.
"Our selection comes as both a very pleasant surprise and a most encouraging way to begin the new year," said John Mulcahy, managing director, Jones Lang LaSalle. "Unlike the Fortune 500, which simply lists the world's largest 500 companies, the Forbes Platinum 400 singles out the best."
Companies cannot apply for membership but are chosen by the bi-weekly American news magazine by examining a range of factors, including a company's financial performance, accounting and governance practices, earnings quality, innovation, efficiency and market leadership.
"The confidence of investors in Jones Lang LaSalle is already evident from the fact that its share prices on the New York Stock Exchange remains above $50 and this confidence is reinforced by Forbes' decision to make us the only real estate company in the Platinum 400," Mr Mulcahy added.
Jones Lang LaSalle operates in more than 100 markets around the globe and has a portfolio of over 85 million sq m (915 million sq ft) under management worldwide.
€100,000 premium for lease in St Stephen's Green centre
Retail agent HWBC is seeking a premium of €100,000 for the lease of the Gattoo shop on the ground floor of the St Stephen's Green Shopping Centre in Dublin 2. The shop has a floor area of 93sq m (1,000sq ft) with an additional mezzanine area of 46sq m (495sq ft). The rent of €158,750 is not due to be reviewed until 2008. The shop has the added benefit of a substantial frontage on to South \King Street and will face the new retail scheme to be undertaken there shortly by developer Joe O'Reilly. The recent opening of the Luas line and the Top Shop flagship store a short distance away have both helped to boost the number of visitors to the shopping centre.
€200,000 rent for convenience store on Parnell Street
A well located convenience store on the corner of Parnell Street and Moore Street in Dublin 1 has come on the letting market through Hooke & MacDonald. The 275sq m (2,960sq ft) store, which is available at a rent of €200,000, will be one of six retail units on the ground floor of Greeg Court, a mainly residential scheme backing on to the Ilac Centre. Two other shops of 124sq m (1,335sq ft) and 150sq m (1,615sq ft) are also available though Hooke & MacDonald.
€100,000 rent for period office building in Dundalk
A three-storey period office building opposite St Patrick's Cathedral in Dundalk has come on the letting market through local agents Rafferty Valentine Green. A rent of around €100,000 is being quoted for the former Irish Life building which has a rear yard with parking for about 12 cars. While the preference is to let it as a single unit, the agents will also consider letting the block on a floor-by-floor basis. The overall floor area is 375sq m (4,036sq ft). It is superbly located next to the Courthouse.
Residential site of 3.53 acres off Navan Road makes €3.75m
A small residential site off the Navan Road in Dublin 15 has been sold to Paul Dunne for €3.75 million. The 3.53-acre site could possibly accommodate up to 90 apartments having already been zoned for residential use. The site was originally set aside for a pedestrian bridge over the Navan Road which was never built. A small proportion of the site is owned by Fingal Co Council which has yet to approve of the sale. The selling agent was Bannon Commercial.
Ranelagh business centre signs up more tenants
Mountpleasant Business Centre in Ranelagh, Dublin 6, continues to grow in popularity. Coady Partnership Architects has agreed to take a 10-year lease on the first floor once it has been fitted out to its requirements. The company will also have the use of six car-parking spaces. Other firms already operating out of the centre include IN1 Engineering Design, Donnolly Turpin Architects, Bucholz McEvoy Architects and Shay Cleary Architects.
MEPC chartered surveyors is now marketing 390sq m (4,200sq ft) with its own entrance, air handling system and Cat 6 cabling. The construction of the building is well advanced and it will be ready to move into in a matter of weeks. The agent is quoting a rent of €323 per sq m (€30 per sq ft) and €1,200 for car-parking spaces.
Development land sales in 2005 reach record €3bn
The value of development land sales in Ireland reached €3 billion for the first time last year with three deals in Dublin 4 making up 10 per cent of the total. Joan Henry, head of research at Hamilton Osborne King, said that the value of land sales was higher than the overall investment market which had a turnover of €2 billion. The agency found that 70 per cent of the land deals were in Dublin city and county. Apart from the three sales in Ballsbridge, the next high value deal was the sale of a site for 88 apartments at Lower George's Street in Dún Laoghaire for €23 million.
