A round-up of other stories in brief
Key money of €750,000 paid for lease on Henry St
Vodafone has paid key money of €750,000 for the lease of a shop near the O'Connell Street end of Henry Street, Dublin 1. The Irish shoe retailer Zerep has been trading out of the 329sq m (3,541sq ft) store where the rent was recently reviewed to €355,000. Marc Meehan of Douglas Newman Good Commercial advised Zerep.
UK chocolate brand takes space at St Stephen's Green centre
Thorntons, the UK chocolate brand which trades from more than 380 stores across the UK and Ireland, is to open a new outlet at St Stephen's Green shopping centre in Dublin 2. This is the fifth letting to occur in the shopping centre in the past six months.
Thorntons will be paying a rent of €140,000 per annum on the basis of a new long term lease on the ground floor for a unit of 48sq m (517sq ft) with a mezzanine of 28sq m (301sq ft). Stephen Murray of Jones Lang LaSalle, who acted for the landlords, said that this new letting to a branded multiple complements the strong tenant mix in the centre.
Premium of over €100,000 paid for lease of D6 fast food outlet
Lisney has secured a premium of over €100,000 for the lease of the former Young's fast food outlet at 13 Rathgar Road, Rathmines, Dublin 6, which has been trading for a decade. The new tenant will be Saba, a Thai and Vietnamese restaurateur who will be paying a passing rent of €37,000. HWBC acted for Saba.
€1.5 million for former credit union premises in Dublin 7
DNG Commercial is seeking €1.5 million for the former premises of the Aughrim Street District and Parish Credit Union at 52 Manor Street, Dublin 7. The premises extends to 234sq m (2,519sq ft) and is suitable for conversion into many uses such as retail, banking, or medical surgery.
Third retail park plus multiplex planned for Drogheda
Drogheda is to get its third retail park. The three businessmen who built Drogheda Retail Park off the M1 have sought permission for a revised scheme on a nine-acre site they bought on the Donore Road for over €10 million. The plan is to provide the town's first multiplex cinema and 8,000sq m (86,111sq ft) of retail facilities.
Marcus Wren of agent Bannon Commercial is already in negotiations with DIY operators such as B&Q, Home Value and 4 Home.
Meanwhile, a marketing campaign is to get under way for the final phase of Drogheda Retail Park which will have four further units of 700sq m (7,535sq ft) each.
Livingstone for Dun Laoghaire
The Limerick-based company specialising in home furnishing and fittings Livingstone is to open a new store before Christmas at George's Street in Dún Laoghaire.
The premises will have dual access from George's Street and Convent Lane at the Bloomfield shopping centre. The company will be paying a rent of €70,000 for the 166sq m (1,787sq ft) shop which will stock a mix of fireplaces, granite worktops, and gas and electric fires and stoves. Lisney handled the letting.
Industrial unit at west Dublin estate makes €3.5 million
A private investor has paid €3.5 million for an industrial investment at Western Industrial Estate opposite the Red Cow Inn in west Dublin. The 2,322sq m (25,000sq ft) building is let to Tennants, suppliers of partitions for commercial buildings, at a rent of €190,000 per annum. The investment will show a yield of 4.85 per cent.
New tenants to enhance appeal of Carrick-on-Shannon centre
The broad appeal of the new €30 million shopping centre in Carrick-on-Shannon will be enhanced further with the opening of multiple Menary's and health and beauty chain Boots. Menary's, the mini department store operators from Northern Ireland, is leasing 580sq m (6,243sq ft) on the ground floor and is installing a mezzanine of 520sq m (5,597sq ft).
Letting agent CB Richard Ellis says there is only one remaining retail unit available of 300sq m (3,229sq ft).
A rent of €430 per sq m (€40 per sq ft) is being sought for this outlet while €193 per sq m (€18 per sq ft) is being quoted for two units aimed at companies selling bulky goods.
€600,000 for 0.6-acre industrial site at Prosperous, Co Kildare
Coonan Real Estate Alliance is quoting an AMV of €600,000 for a site of 0.6 acres zoned for enterprise and light industry at Dublin Road, Prosperous, Co Kildare.
There is a bungalow on the site which has been unoccupied for a number of years. The property goes to auction on November 20th.
Meadows & Byrne to open unit at CHQ in IFSC
The long and tedious task of finding tenants for the expensive CHQ development in Dublin's IFSC has moved a stage further with the decision by home furnishings retailer Meadows & Byrne to trade out of 1,207sq m (13,000sq ft) from November 6th. It will be the group's eighth store.
Group to pay €376 per sq m rent for Leeson Street offices
The Oyster Group, which acts as agents for Vodafone, has leased two interconnecting Georgian offices at 48/49 Lower Leeson Street, Dublin 2.
It will be paying a rent of €376 per sq m (€35 per sq ft) for 776sq m (8,353sq ft) and €3,500 for each of the nine car-parking spaces. The lease will run for nine years and 11 months. Paul Scannell of HWBC acted for the landlord.
