A round-up of other commercial property news in brief

75% off five-acre Athlone site

A five-acre commercial site in Athlone, Co Westmeath, which had a selling price of €5m in 2006 but did not change hands, is back on the market at €1.25m. Mark Reynolds of Savills is handing the latest sale for Wolseley UK, the plumbing and heating suppliers. The site at Garrankesh is in an established commercial area close to Blyry Business and Commercial Park and Athlone town centre.

Behan world arbitration chief

The Dublin-based consulting engineer and alternative dispute resolution practitioner, Joe Behan (right), is the new world president of the 12,000-strong Chartered Institute of Arbitrators. He is well known as an adjudicator and mediator for the Private Residential Tenancies Board. Behan has been active in promoting mediation and arbitration to the point where many organisations and private individuals choose these less costly and speedier options than going to court.

Office vacancy rate down

The vacancy rate in the Dublin office market fell marginally in Q1, 2010, says Willy Dowling of CBRE. While vacancy rates differ across sub-markets in the city and the overall rate is high at 23 per cent compared to other European markets, it is still encouraging to see some reduction in the rate. Take-up of space in Q1 was 25,000sq m (269,100sq ft).

Service charges down 13%

A new report by Jones Lang LaSalle shows that average service charges in the Dublin office market fell by 13 per cent from the end of 2008. Typical charges now stand at €62.85 per sq m (€5.84 per sq ft). The most expensive component is heating and air conditioning at €10.89 per sq m (€1.01 per sq ft). Power and light cost €10.36 per sq m (€0.96 per sq ft). The drop from €72.26 per sq m (€6.71 per sq ft) in 2008 to €62.85 per sq m (€5.84 per sq ft) in 2009 was primarily as a result of lower costs for cleaning, security, power, lighting and heating and air conditioning, according to Dr Clare Eriksson of Jones Lang LaSalle.