A round-up of today's other stories in brief
Over €3.35 million for retail unit at The Square
Retail investments at The Square in Tallaght, Dublin 24, have been slow to come on the market in recent years. That is one of the reasons why Hamilton Osborne King is expecting strong interest in the Claire's Accessories unit which is expected to make over €3.35 million when it is sold at tender on May 16th.
Unit 201 is located on the second floor of the shopping centre and extends to 82.86sq m (892sq ft). There are 18 years to run on the lease and the current rent of €125,000 is expected to show a significant reversion when it is reviewed in 2009. Another attraction is that the shop carries around €120,000 in capital allowances over a 10-year period.
€750,000 and €1m for shops in Newbridge and Waterford
Porter newsagents is selling two of its stores as going concerns in shopping centres in Newbridge and Waterford. The trader is to concentrate on its outlets in the Cork area. Both businesses are expected to generate considerable interest from newsagents and book shop retailers.
Peter Levins of Bannon Commercial is quoting €750,000 for the Newbridge store, which has a floor area of 185sq m (2,000sq ft), and €1 million for the Waterford outlet which has 250sq m (2,700sq ft). The joint agent is Niamh Mansfield of Campion Property.
Over €7.5m for ready-to-go residential site in Cabra
With apartment sites close to Dublin city centre in particularly strong demand, CB Richard Ellis should have no difficulty in shifting a plot in Cabra, Dublin 7, with planning permission for 64 homes. The site of almost 1.2 acres at Quarry Road has full planning permission for 56 two-bedroom apartments and eight one-bedroom homes. Wesley Rothwell of CBRE is quoting over €7.5 million for the site which is to go to tender on May 24th.
Salesforce.com takes floor at Sandyford's Atrium
The business consortium which bought The Atrium office block in Sandyford, Co Dublin last year has let another floor, leaving only two levels still vacant. The latest firm to agree to take a floor of 2,322sq m (25,000sq ft) is Salesforce.com which will be paying around €269 per sq m (€25 per sq ft). Microsoft and another high-tech company, Avaya, each occupy one floor while a third has been reserved by an undisclosed company. CB Richard Ellis is the letting agent while Salesforce.com was advised by Jones Lang LaSalle.
Restaurant lease for Da Pino opposite City Hall for sale
The leasehold interest in a 12-year-old restaurant trading on the edge of Dublin's Temple Bar area has come on the market through DTZ Sherry FitzGerald. Da Pino, with frontage on to both Parliament Street and Dame Street, is directly opposite City Hall and can seat 70 diners and is held on a 33-year lease from 1993 at a current rent of €105,000. DTZ is inviting best offers by May 18th. Ross Harris of the agency says there is a strong market at the moment for premises with established food usage.
Coffee giant Starbucks to open shop at Liffey Valley
A shop selling large sizes of women's clothes at Liffey Valley shopping centre in west Dublin has closed, leaving the way open for American coffee shop specialist Starbucks to set up another branch. The clothing retailer was paying a rent of €120,000 for the 185sq m (2,000sq ft) shop but the landlords have now settled for a flat rent of €100,000 plus 10 per cent of the turnover. Most food traders at the centre also pay the landlords a percentage of their turnover, according to letting agent Bernadine Hogan of Hamilton Osborne King.
Over €3m for half-acre site near M50 and Luas in Sandyford
Frank Kelly of Hassett estate agents is quoting over €3 million for a half-acre redevelopment site at Kilgobbin Road in Sandyford, Dublin 24. There are two houses on the site which has good road frontage and is within a short distance of the M50 and the Luas service. The site goes to auction on April 27th.
OPW to exchange Broc House for social and affordable housing
The Office of Public Works is to make another attempt to exchange Broc House at Nutley Lane in Dublin 4 for affordable housing in the city. Colliers Jackson-Stops is to mount a new campaign to attract interest in Broc House which has a valuation of €8 million even though it was bought by the OPW several years ago for €9.2 million. The initiative comes via the Affordable Homes Partnership which seeks to encourage developers to provide low cost homes to first-time and young buyers.
The three-storey over basement Broc House was built in 1970 and sits oa site of 2,280sq m (24,542sq ft). Access is via a tree-lined avenue. The assumption is that Broc House will provide an upmarket residential scheme located along one of Dublin's dearest streets and close to the Merrion Centre, RTÉ and St Vincent's Hospital.
