A round-up of other stories in brief
Gannon buys 98 acres in Arklow for over €35m
Property developer Gerry Gannon has added to his very considerable land bank by buying 98 acres of housing land beside Arklow town. He is understood to have paid marginally over the guide price of €35 million for the land which has full planning permission for 322 housing units, 50,493sq m (543,502sq ft) of employment/office buildings and a commercial village with about 13,100sq m (141,007sq ft). Mr Gannon was advised by James Meagher of HT Meagher O'Reilly. The land has been owned for some years by Frank O'Kane's Mercury Engineering.
Small redevelopment site in D2 for over €2.25m
Douglas Newman Good Commercial is guiding over €2.25 million for a small redevelopment site at Sussex Terrace in Dublin 2. The garage, behind the Leeson Lounge, is beside the former Hertz premises and next to Chris Fleming Motors. The agent says it could accommodate a split-level mezzanine retail unit at ground floor level with a residential space or office on up to three overhead levels. The site extends to 150sq m (1,615sq ft).
Dundrum Business Park investment for €3.75m
An office and warehouse investment at Dundrum Business Park in Windy Arbour, Dublin 14, is available for sale at €3.75 million through Douglas Newman Good Commercial. The two-storey semi-detached building has a floor area of 672.27sq m (7,236sq ft) and is let to the CSA group at a rent of €120,000 per annum. The 21-year lease dates from the end of 1997. The next rent review is due in October of next year.
Over €4 million for 43-bed Maynooth hotel on 4.5 acres
Coonan Real Estate Alliance is suggesting a price of over €4 million for the Straffan Court Hotel on the outskirts of Maynooth which goes to auction on June 28th. The 43-bedroom hotel stands on a site of 4.5 acres which originally formed part of the adjoining stud farm. The grounds have been lavishly landscaped and include a four-bedroom detached home. There are 150 car-parking spaces. The hotel is located about three miles from the K Club where the Ryder Cup is to be staged next September.
Cosgrave Group buys London portfolio for almost €194m
The Cosgrave Group has greatly strengthened its investment portfolio by buying a mainly retail portfolio in central London for £132.5 million (€193.8 million). It will show a net yield of 4.1 per cent and an equivalent return of 4.6 per cent.
The freehold property acquired from Prudential occupies an island site fronting on to Oxford Street and includes two flagship stores let to Next and Superdrug. Last year Cosgraves paid €80 million for a well located retail investment in Birmingham.
Victorian office building in Dun Laoghaire for over €1.75m
Lisa McInerney of DTZ Sherry FitzGerald is quoting over €1.75 million for a Victorian office building at 15 Windsor Terrace, Dún Laoghaire, which goes to auction on June 21st. The house has 189sq m (2,034sq ft) of space over three floors and has excellent views over Dublin Bay. There is room for car-parking at the front as well as a rear yard. New owners might also decide to convert the building into residential use. Sherry FitzGerald Dún Laoghaire is the joint selling agent.
Around €3.5m for retail building on Liffey Street
A freehold retail building at 13 Liffey Street, Dublin 1, is expected to make around €3.5 million when it is offered for sale by tender on June 28th by Bannon Commercial. The three-storey building currently trades as Miss Moneypenny and has a double height ground floor retail facility of 51sq m (549sq ft) with basement storage and offices on the second floor. Liffey Street is one of the busiest streets in the north inner city.
Over €2.75m for redevelopment opportunity on Meath Street
Lisney is quoting over €2.75 million for a redevelopment opportunity at 67/70 Meath Street, Dublin 8, which goes to tender on June 28th. The four three-storey mid-terrace buildings have been amalgamated to provide one ground floor unit of 250sq m (2,691sq ft), as well as retail space on the first floor.
Istanbul's Irish Centre for €1.75m
The Irish Centre in Istanbul is for sale at an asking price of €1.75 million. It comprises a completely renovated eight-storey building from the Ottoman period with a restored Georgian facade. The business has a licence to sell food and alcohol on six of the floors and a club with live music in the basement. The building is well known as a live music venue and has five bars, office space, professional kitchen, apartment and an outdoor terrace. The centre is in Istanbul's night life district. Email: j.j@turk.net
