A round-up of this week's other property new in short ...
€7m for Cork quayside site
A Cork Opel dealership will be hoping to secure in the region of €7 million for its extensive premises at St Patrick's Quay, now that it is relocating to EastGate Business Park.
DTZ Sherry FitzGerald has been appointed to either lease or sell the quayside building which is likely to be redeveloped because of its obvious potential for a mixed-use scheme.
MS to open in Navan
Navan shopping centre is to get a shot in the arm shortly when Marks Spencer opens its first store in Co Meath. The UK multiple is likely to be paying a rent of €500,000 for the 278sq m (30,000sq ft) of space on two levels. Its arrival will pose a particular challenge for anchor tenant, Tesco, which has introduced a range of own-brand products at lower prices to help maintain its market share. DTZ Sherry FitzGerald handled the letting.
UK values down 35.5%
Irish commercial property values are not the only ones in freefall. The UK has just reported a drop in values during 2008 of 27.1 per cent. The overall peak-to-trough decline since the start of the re-pricing cycle began 18 months ago now stands at minus 35.5 per cent. IPD has said that the fall is “totally without precedent”.
€1.8m for Howth house
Agent Kelly Walsh is quoting a reduced price of €1.8 million for the last of three substantially completed houses with superb views over Howth Harbour. The house at 1 Thulla, Dunbo Hill in Howth, Co Dublin, has 327sq m (3,520sq ft) of space over three floors and while all the work has been completed on the outside, it has been left in shell condition internally.
