A round-up of other stories in brief
Boots to assign lease of store on Aston Quay
The giant chemist multiple Boots rarely closes any of its branches but it has just pulled the plug on an outlet at Aston Quay, off O'Connell Bridge in Dublin 2. Only three years after moving into the 164sq m (1,765sq ft) redeveloped premises at a rent of €175,000, the company has asked DTZ Sherry Fitz-Gerald to seek an assignment of its lease which has a break option in year 15. No premium is being sought.
Two years ago a syndicate sold Boots two adjoining retail units and a fitness club in the redeveloped former Virgin Megastore for €24.75 million. Super Value is trading out of the main store and the third unit houses a coffee shop. The overall rent roll is around €1 million.
Salsa among new retailers at Blanchardstown centre
The Blanchardstown centre continues to attract top-name traders. Latest fashion specialist to open an outlet there is the Portuguese company Salsa which also has shops in Dundalk and Maynooth. The company will be paying a rent of €295,000 for a shop of 116sq m (1,250sq ft), equating to a Zone A rate of €4,574 per sq m (€425 per sq ft).
Three other newcomers are to rent smaller units. Thornton Chocolates, forced off Grafton Street about three years ago by rising rents, will be paying €115,000 for a shop of 46.45sq m (500sq ft). Sky TV is also moving in and will be paying €75,000 for a kiosk while The Bag Shop is to trade out of a 110sq m (1,184sq ft) unit with an annual rent of €225,000. The joint letting agents are HWBC and Jones Lang LaSalle.
€4.5 million for Park West industrial building on 1.24 acres
Lambert Smith Hampton is seeking €4.5 million for a seven-year-old warehouse and office building owned by Dixons at Park West Industrial Park in west Dublin. It has a floor area of 2,066sq m (22,240sq ft) and, standing on a site of 1.24 acres, it has good yard space and scope to enlarge.
The same agency is quoting a rent of €484 per sq m (€45 per sq ft) for a three-storey Georgian office building at 56 Lansdowne Road, Ballsbridge, Dublin 4, which will shortly become vacant when it is vacated by the IRFU. It has an overall floor area of 278sq m (3,000sq ft).
Small ready-to-go infill site in D1 for around €2.75 million
Knight Frank Ganly Walters is guiding in the region of €2.75 million for an infill redevelopment site off Gardiner Street in Dublin 1 which is to be sold at tender. The site 0.0773 of a hectare (0.19 of an acre) at Gardiner Lane has full planning permission for 13 apartments and 376sq m (4,047sq ft) of offices and retail units. It is exempt from the need to provide social and affordable housing.
€5 million for Swords industrial investment with top tenant
An industrial investment involving the Multi-Print building in Swords, Co Dublin, has come on the market through CB Richard Ellis with a guide price of €5 million.
The 2,661sq m (28,653sq ft) building stands on a site of 1.49 acres and is let on a 21-year lease from 2000. The rent is €276,000 per annum. Multi-Print was set up in 1968 and is recognised as a global brand leader for the supply of self-adhesive labels. The building is in Swords IDA Business Park, close to Dublin Airport.
Airline relocates headquarters to Northwood Business Campus
Aer Arann, the regional airline, has relocated its headquarters to Northwood Business Campus on the former Santry Demesne near Dublin Airport. The company is renting 1,900sq m (20,451sq ft) over three floors where it has flight training operations as well as flight simulation and headquarters facilities.
HT Meagher O'Reilly and Savills HOK are advising Northwood Business Campus.
Investor pays €5.25 million for investment at Helsinki airport
The Irish office of Atisreal has bought what it calls a "logistics investment" at Helsinki airport for a private investor. The agency paid €5.25 million for the 4,600sq m (49,514sq ft) building which is leased for under nine years from January 2007 at a passing rent of €371,357 per anum. The rent is indexed annually and will show a net initial yield of 7.1 per cent.
Bannon Commercial appointments
Bannon Commercial has appointed Aidan Grimes (director) and Brian Cleary (associate director) to its property team division. The firm manages a portfolio of 220,000sq m (2.368 million sq ft) consisting of shopping centres, retail parks and office blocks with a total value of over €1.5 billion.
