Ready-to-go site makes €30 million: A site with planning permission for a mixed-use development, including 99 apartments, in The Coombe area of Dublin 8, has been sold to a building contractor for €30 million - €18 million more than it made just over two years ago.
Apart from the residential scheme, the site of 1.37 acres at Blackpitts has permission for 4,898sq m (52,722sq ft) of offices, 1,751sq m (18,848sq ft) of commercial space and a crèche. Architects HKR designed the scheme which will include seven blocks ranging from six to nine storeys in height. There will also be a covered walkway along the previously culverted River Poddle.
Hamilton Osborne King handled the sale for RQB whose principals are Paul Pardy, Niall McFadden and Paddy Kelly.
The same agency has secured €5.6 million for a former Shell petrol station on 0.37 of an acre at Taney Road in Goatstown, Dublin 14.
Herbmedic pays €175,000 key money for lease on Grafton St
UK herbal remedy retailer Herbmedic has paid key money of €175,000 for the lease of the former Hickey fabrics store at 45 Grafton Street, Dublin 2. Hickey is to concentrate on its other store on Grafton Street.
Herbmedic launched its first Irish store at Dundrum Town Centre in 2005 and has since opened up in 15 other locations around the country. The company will be paying a rent of €200,000 for 72.4 sq m on the ground floor and storage of 30sq m in the basement. Paul Byrne of Bannon Commercial, which handled the Grafton Street acquisition, said he was looking for further outlets for Herbmedic in principal shopping centres and high streets.
3.2-acre residential site in Kiltiernan makes over €14m
DTZ Sherry FitzGerald is understood to have secured over €14 million for a development site of 3.2 acres at Kiltiernan, Co Dublin. The residential zoning would probably allow the new owner to build either six detached houses, 14 townhouses or 35 apartments per acre.
4.6% yield on sale of warehouse at Baldonnel Business Park
A detached warehouse and office building let on a short lease at Baldonnel Business Park, Naas Road, Dublin 22, has been sold as an investment at a net yield of 4.6 per cent. The modern building of 1,024sq m (11,022sq ft) is let to Parker Sales (Ireland) Ltd at a rent of €115,000. The lease runs for four years and nine months.
Philip Harvey of selling agent William Harvey & Co said that prime industrial yields are at an all time low due to the weight of money available for good investment properties. Fergal Burke of GVA Donal O Buachalla advised the purchaser.
Over €3.5m for lakeside leisure complex on almost 74 acres
A lakeside leisure complex on almost 74 acres in Co Cavan is to be sold at tender through DTZ Sherry FitzGerald on November 22nd. It is likely to make over €3.5 million for owners Coillte Teoranta.
Killykeen Holiday Complex is located to the north-west of Cavan town in a delightful woodland setting woven around the lake and islands of Lough Oughter. It is about two miles from Killeshandra. The site has 28 log cabins and has been operated as a holiday complex for over 20 years. It is currently run by Coillte Teoranta.
Niamh O'Connor DTZ's development land division is telling interested parties that the site is ideal for a luxury spa or upgraded holiday complex. There is full planning permission for an additional 20 chalets and multi-purpose recreational building.
Work starts on €42m hotel
The foundation stone was laid on Monday to mark the start of the construction of a new four-star hotel at Ramelton, Co Donegal. The €42 million, 60-bedroom hotel will be located on a 50-acre site located along the banks of Lough Swilly, Rossreagh. The high quality hotel will be operated by the world renowned West Paces Hotel Group and will include a swimming pool and rooftop bar. The construction is to be carried out by Gurhill Developments, a new Donegal-based company run by Horst Schulze. He set up the West Paces Hotel Group after serving as president and chief operating officer of the Ritz Carlton Hotel Company.
Bray hotel with retail potential for over €4.5 million
The 22-bedroom Westbourne Hotel at Westbourne Terrace, Quinsborough Road in Bray, Co Wicklow, is likely to be redeveloped for shopping and overhead apartments when it is sold at tender on November 16th. Morrissey's is quoting over €4.5 million for the hotel which will probably be redeveloped to accommodate up to 743sq m (8,000sq ft) of retail and at least 18 apartments. The hotel is opposite a site earmarked for a shopping centre.
Winy Maas to deliver Loving Architecture lecture in Dublin
The Rotterdam architect Winy Maas is to deliver the annual Loving Architecture lecture in the Gaiety Theatre in Dublin 2 on November 9th. The event is being sponsored by the Irish Architecture Foundation and Hamilton Osborne King.
Winy Mass and his firm, MVRDV, has received international acclaim for many projects, including the Silodam Housing Complex in Amsterdam, the Matsudai Cultural Centre in Japan and the Dutch pavilion at Expo 2000 in Hannover. "We really were looking for a person or group that was on a trajectory to greatness," said Bob Greenstreet, dean of the University of Wisconsin-Milwaukee School of Architecture. Tickets for the lecture are free from the Gaiety Box Office.
