Other commercial property news in brief
Foodcourt at Park Place
Following our report last week that Morton's of Ranelagh and other food retailers are moving into a new foodcourt at Park Place in Dublin 2, Alan Tyrrell of the Hibernian Group points out that his firm's staff restaurant, far from being poorly furnished, is a benchmark for quality as a staff restaurant. "Hibernian welcomes competition and its staff restaurant, which won the staff restaurant of the year award in 2007 and which is opposite the planned new food outlet in Park Place, fully expects to hold on to the present level of support when competition arrives in the same courtyard."
€1.45m for Wicklow shop
Savills HOK has cut the asking price from over €1.7 million to €1.45 million for a retail investment in The Glebe Building in Wicklow town. The 400sq m (4,306sq ft) ground floor unit is let to Xtra-vision at a rent of €95,000 per annum. The 2006 lease provides for a break clause in year 10.
Retail/office units for sale/rent
Hooke MacDonald Commercial has launched a marketing campaign for office suites and retail outlets in the newly built Adelphi House in Dún Laoghaire town centre.
The agency is quoting selling prices of €5,382 per sq m (€500 per sq ft) and a rental level of €296 per sq m (€27.5 per sq ft) for office suites which range in size from 114 to 293sq m (1,227 to 3,154sq ft).
Two retail units of 138 and 149sq m (1,485 and 1,604sq ft) are for sale at €10,871 per sq m (€1,010 per sq ft) and for rent at €296 per sq m (€27.5 per sq ft).
€2.5m for Sandyford industrial
Agent Atisreal is quoting a guide price or €2.5 million or a rent of €100,000 per annum for a modern warehouse building at 69 Heather Road in Sandyford Industrial Estate in Dublin 18. The building extends to 607sq m (6,534sq ft) and has good parking and yard space. It adjoins the former Clissmann Pharmaceutical facility on Heather Road where An Bord Pleanála recently refused planning permission for 128 apartments as well as an office and retail scheme.
Over €3m for D4 offices
A two-storey over ground floor office building at 23 Mespil Road in Dublin 4, has come on the market through Savills HOK with a guide price of over €3 million. The period house, with 204sq m (2,196sq ft) of net lettable office space, can alternatively be rented at €430 per sq m (€40 per sq ft). Six car-parking spaces will cost an additional €3,500 per annum. The house overlooks the Grand Canal and Tommy Darmody of Savills HOK points out that it is close to several transport links, including the Luas at Charlemont, the Dart at Grand Canal Dock and Lansdowne Road, and a number of Dublin bus routes.
€40,000 rent for Bray shop
Auctioneer HJ Byrne is quoting a rent of €40,000 for a new retail premises at Florence Road in Bray. There is planning permission to use the building as a café. It has 70sq m (753sq ft) at street level, a further 38.55sq m (415sq ft) in the mezzanine and outdoor seating space under a canopy. The building is within a short walk of the municipal car-parking which is due to open before Christmas.
Zumo for North Earl Street
New juice bars continue to spread in Dublin. Zumo has taken a new lease of a premises just off O'Connell Street at 3 North Earl Street, Dublin 1. The company will be paying a rent of €80,000 for a ground floor retail unit with basement offices and storage. Emma Walsh of Lisney advised the landlord and James Hardy of Jones Lang LaSalle acted for Zumo.
Award for Savills HOK
Savills HOK was chosen as "managing agents of the year" at the Shopping Centre magazine's retail property wards in Dublin last weekend. The agency manages an extensive portfolio of commercial properties with an annual rent roll of over €200m and service charges of €60m. Denis O'Connell, manager of Liffey Valley shopping centre, was judged the shopping centre manager of the year while Jane O'Keeffe, head of marketing at Dundrum Town Centre, was named marketer of the year. Pictured (left to right) are Denis OConnell, centre director, Liffey Valley, Angus Potterton, MD Savills HOK, and Roy Deller, director, Savills HOK.
Lettings at Portlaoise centre
Fast food giant McDonald's is to launch its new drive-through design format in the latest wave of lettings confirmed by Kyle shopping centre in Portlaoise. The restaurant design has been tested in other countries with considerable success but this will be the first trial in Ireland.
The other major letting for the centre is Elvery's Sports who are leasing a 1,000sq m (10,764sq ft) store beside Argos and they will be joining the list of retailers at the centre which is anchored by Dunnes Stores. Other lettings include Hallmark Cards, Sky TV and The Bag Shop. George Ross of Jones Lang LaSalle handled the lettings at the centre which has more than 10,574sq m (113,817sq ft) of retail space.
