More commercial property news in brief.
No premium for Athlone lease
McDonald's Restaurants is not seeking any premium from suitable traders willing to take over its lease of a retail building at Irishtown Central, opposite the entrance to Golden Island shopping centre in Athlone.
The fast food operator will continue to run its drive-through business at the Kilmartin roundabout on the Dublin road.
The property has a ground floor area of 277sq m (2,982sq ft), a further 183sq m (1,970sq ft) in the basement and is held on a 25-year lease from 1999 at a rent of €157,500. There is extensive car-parking beside the building which may be of interest to other fast food operators, as well as to a financial institution or companies selling bulky goods. GVA Donal O Buachalla is handling the sale.
323 per sq m rent in D2
Companies looking for short term accommodation in a medium-sized office building in Dublin city centre are likely to consider the Royal and Sun Alliance block at Dawson Street which becomes available from July.
In the longer term Shelbourne Developments plan to redevelop the block.
Agent Atisreal is quoting a rent of €323 per sq m (€30 per sq ft) for 3,376sq m (36,339sq ft) which comes with 18 car-parking spaces.
The space on four floors may be broken into smaller units from 300sq m (3,229sq ft) upwards. The office space will be fully fitted out, including furniture and data cabling.
Each floor is predominantly open-plan, except the fourth level which has cellular offices and conference room facilities.
Royal and Sun Alliance is relocating to Dundrum Town Centre in July.
Warehouses for sale/lease
Savills HOK is marketing new warehouse buildings at Riverside Business Park in Rathnew, Co Wicklow. The units have an internal height area of 7.5 metres and come with fitted offices and good parking.
The buildings vary in size from 871sq m (9,375sq ft) to 977sq m (10,516sq ft) and are for sale at €2,150 per sq m (€200 per sq ft) or for letting at €129 per sq m (€12 per sq ft).
€1.7m for Wicklow retail unit
A secure retail investment at The Glebe Buildings in Wicklow town has come on the market through Savills HOK.
The agency is seeking a minimum of €1.7 million for a ground floor retail unit of 400sq m (4,306sq ft) which is let to Xtra-vision on a long term full repairing and insuring lease from 2006 at a current rent of €95,000 per annum.
The lease provides for a break option in year 10 but it will be subject to 12 months notice. The next rent review is due in 2011 and there is already scope to increase it.
Michael Clarke of Savills HOK expects strong interest in the investment, particularly because of the modern building, the strong covenant and the potential for further rent increases in the next review.
Green Building showrooms
A report in last week's supplement said that the showrooms in the Green Building in Temple Bar are being sold by O'Hagan Design. This is incorrect. The premises, being sold by a private investor, has been occupied by furniture retailer Haus, owned by Garret O'Hagan, who is relocating to another area of the city. O'Hagan Design continues to run its business from 101/102 Capel St, D1, where it has been based for 35 years.
