Other Commercial Property stories in brief
L'Occitane brings chic to Liffey Street
French health and beauty retailer L'Occitane has paid in the region of €200,000 for the lease of the Miss Moneypenny shop off Dublin's Henry Street.
The 50sq m (538sq ft) ground floor shop next to H Samuel at 14 Upper Liffey Street is rented at €75,000 per annum.
Kevin Sweeney of Bannon Commercial, who acted for the landlord, said L'Occitane's arrival on Upper Liffey Street "will bring a bit of chic to a street which is steadily improving". L'Occitane has 732 stores worldwide and already has seven outlets in Ireland. Adrian Power-Kelly of Costello Commercial acted for the tenant.
Two hospital coffee shops rent for €225,000
Douglas Newman Good has achieved a hat-trick with the letting of two new coffee shops at Our Lady's Hospital in Crumlin, Dublin 12. The agency has agreed overall rents of €225,000 for the new units, equating to €1,614 per sq m (€150 per sq ft). There were several competitors for the shops even though the licences are only for four years and six months and include a contractual emphasis on the provision of "healthy food."
Carl Scarpa pays €1.13m for Finglas facility
Carl Scarpa has paid €1.13 million for a new 620sq m (6,674sq ft) headquarters and distribution facility at Northpark in Finglas, Dublin 11.
The group operates 12 shops nationwide including a flagship store on Dublin's Grafton Street. The company was acquired two years ago by Sligo brothers Keith and Stephen Moffitt. Four new shops are to be opened this year, according to Patrick Campion of agents HWBC, who advised the two brothers.
Three new retail units available in Priorsgate
CB Richard Ellis is seeking tenants for three new retail units and a crèche at Priorsgate, a mixed-use development being carried out at Greenhills Road in Tallaght, Co Dublin, by P Elliot & Co. Bank of Ireland has already acquired a retail unit of 768sq m (8,267sq ft) while pharmacy chain Unicare has taken 97sq m (1,044sq ft). The rent will be €538 per sq m (€50 per sq ft).
The balance of the retail units range in size from 70-355sq m (754-3,822sq ft).
Retail warehouse park planned for Limerick
Limerick is to get yet another retail warehouse park. Local developer Tomas Healy has begun developing 7,400sq m (79,653sq ft) of buildings fronting on to Ballysimon Road on the southeastern outskirts of Limerick city. B&Q are already based close to the East Point scheme near the Ballysimon interchange off the new South Ring Road motorway.
Lisney's Cork office is quoting rents of €265 per sq m for the units which will range in size from 652-3,620sq m (7,018-38,965sq ft). They will be ready for fit-out next November.
Two Longford retail investments yield profit
Two retail investments in Longford Shopping Centre have been sold at yield of 3.8 and 4 per cent.
Private investors paid €550,000 and €720,000 for the two shops which are producing rents of €23,770 and €31,750 per annum. In the case of Kiddies Way Out Fashions, the initial yield of 4 per cent is expected to rise to 4.4 per ent once a rent review has been agreed. Atisreal handled both sales.
Santry industrial estate unit for €798,000
Lisney is seeking €798,000 for a 10-year-old industial unit at Airways Industrial Estate in Santry, Dublin 9. The 344sq m (3,703sq ft) unit can also be rented at €44,000 per annum.
Lisney is also seeking tenants for three industrial buildings in the nearby North Ring Business Park. The space can vary from 922-1,845sq m (9,924-19,859sq ft).
Two properties on offer in Athlone for over €6m
Savills Hamilton Osborne King is to sell or lease two high profile buildings in the centre of Athlone at 12-14 Custume Place.
The properties are for sale or to let in two lots. Number 12/13 is a three-storey over basement building with two upper floors held under a 20-year lease from October 2006 at a rent of €65,000 in year three. The ground floor and basement with a floor area of 508sq m (5,468sq ft) are either for sale or for lease along with a seven-day bar and restaurant licence.
Ruth Miley of Savills is suggesting an AMV of €4.75 million for the entire building or a rent of €175,000 per annum.
The agents are also quoting in excess of €1.4 million or a rent of €75,000 for number 14, a three-storey building with vacant possession of 163sq m (1,755sq ft).
