Other commercial property stories in brief
O'Connell Street investment for over €5.5 million
With the demand for commercial investments in Dublin city centre still strong, Davin Auctioneers is suggesting a price of region €5.5 million and €5.75 million for a retail building at 52 Lower O'Connell Street which is to go to tender on October 24th. At this selling price the yield would be around 3.25 per cent. The four-storey over basement building has Eddie Rockets on the ground floor and basement. The upper floors are rented by recruitment consultants Hynes Agency. The current rent roll of €187,600 is expected to rise to around €200,000 on review.
Over €1.8m for Burgh Quay retail/office investment
Close by Colliers Jackson-Stops is quoting over €1.8 million for 3 Burgh Quay where William Hill trades out of the ground floor. Three income-producing office floors overhead have separate access on the quays. The total rental income of €69,774 would show a yield of over 4.3 per cent. The agent says the property would also suit an owner-occupier as the first floor office is currently vacant but offered for sale with a rental guarantee.
Clerys to rent at Naas retail park
Clerys Home Furnishings is moving into the last vacant unit at Globe Retail Park in Naas. Clerys will be paying in the region of €270 per sq m (€25 per sq ft) for its outlet. Apart from its headquarters in Dublin's O'Connell Street, Clerys also has home furnishing units at Leopardstown and Blanchardstown retail parks. DTZ Sherry FitzGerald handled the letting in the Globe Retail Park which is anchored by Woodies DIY and Smyths Toys.
€3.5m for Georgian building on South William Street
Turley & Associates is suggesting €3.5 million for a Georgian retail building at 16 South William Street, Dublin 2, which goes to auction on October 18th. The four-storey over basement building, currently vacant, has a ground floor area of 60.3sq m (649sq ft) and a total area of 290sq m (3,123sq ft). There is also a small rear yard.
€1.45m for own-door D4 office
Another own-door office building at Clanwilliam Square in Dublin 4 has come on the market through Davin Auctioneers with a guide price of €1.45 million. The two-storey building has 102sq m (1,100sq ft) and dates from the late 1980s. The row of buildings has been extremely popular with professional firms. The original planning permission allowed the owners to use the premises for either offices or residential. The area is now one of the fastest changing in the city with a range of new office blocks and hundreds of new apartments already occupied.
Over €7m for 4.2-acre Cork site
Douglas Newman Good Commercial is quoting over €7 million for a site of 1.7 hectares (4.2 acres) on Forge Hill, just off the Kinsale Road in Cork, which is for sale by tender. The land is zoned primarily for industry and enterprise in the Cork County development plan and would suit either an office scheme, light industry or showrooms.
Techcrete site not sold says firm's main shareholder
Reports that Techcrete Ireland has sold its Howth plant and site were denied this week by the company's main shareholder, Chris O'Dea. He said he was aware of rumours in the area but the company was not in discussions on the sale of the site. But he conceded they "will move in time" when they found an alternative site to manufacture architectural precast concrete cladding. The Howth site is one of the best development opportunities in the area.
Over €5m for redevelopment site in Greystones
An interesting redevelopment opportunity has arisen at Church Road in Greystones, Co Wicklow, where Lennox Estates is handling the sale of two adjoining Victorian properties. Stanley House and Kirkee stand on a site of 0.54 of an acre which could be further developed for a mixed-use scheme when sold at tender on November 3rd. The guide price is likely to be between €5 million and €6 million. Neither of the two houses going for sale are listed for preservation though a local area plan has identified Church Road as an area of architectural importance.
Ready-to-go residential site in Mullingar for over €4.3m
Joint agents Sherry FitzGerald Davitt & Davitt and Property Partners James B McDonnell and Co are guiding over €4.3 million for a residential site at Dublin Road, Mullingar, Co Westmeath, which goes to tender on October 11th.
The ready-to-go site at Gleann Petit Square has full planning permission for 56 one, two and three-bedroom apartments.
