AIB Investment Managers has secured over €8 million at tender for a redundant office building at Sandyford, Dublin 18.
James Nugent of Lisney had been quoting over €7 million for Reservoir House, a three-storey block with 1,708 sq m (18,384 sq ft) of floor space at Ballymoss Road in Sandyford. It was built about eight years ago and was occupied by Microsoft until it exercised a break option and relocated to The Atrium in the same area.
New index to measure Irish shopping patterns
FootFall, an international company which provides retail business information, has just launched the Republic of Ireland national index. The head of the Irish company, Michael Stokes, said it was a major step forward for retail property markets in Ireland as it allowed its clients to benchmark their own performance with the market as a whole as far as the number of people shopping is concerned.
FootFall will measure over 3.4 million shopper visits per month in nine shopping centres. FootFall already operates national indices in the UK, Spain, Italy, France, Poland and Hong Kong.
The study also monitors key retailing events like Christmas, Easter and school holidays as well as the effect of external events on retail like the outbreaks of SARS in Hong Kong and the UK petrol crisis of 2001.
Kellys pays €12.2m for site in Dublin 8
Dublin property developer Kellys has emerged as the purchaser of Mullins scrapyard at Blackpitts, Dublin 8. The new owners plan a major urban renewal project for the 0.56 hectares and also the adjoining Tenenters bar which it acquired two years ago.
The scheme will include a mix of apartments and commercial facilities. The site was bought after tender for €12.2 million. DTZ Sherry FitzGerald handled the sale.
Meanwhile housebuilder Larry Keegan has emerged as the purchaser of a site at Porterstown, Clonsilla, Dublin 15 with planning permission for 217 apartments and 76 duplex units. The price achieved - €23 million - is seen in the industry as exceptionally strong. DTZ Sherry FitzGerald and Douglas Newman Good were joint agents.
Ellier invests €4m in Brussels offices
Ellier Developments has bought an eight-storey office block in the Leopold district of Brussels for €4m.
The 1,420q m (15,284 sq ft) office block, which also has 76 sq m (818 sq ft) of retail space and 16 car-parking spaces, is multi-tenanted and includes two Irish subsidiary companies. The purchase price provides a yield of 7 per cent on ERV. Jane Redmond of Ganly Walters, which handled the sale, said that office rental levels are set to increase in this sought-after area of Brussels over the next 12 months because of demand from new EU member states and other international agencies.
Vision Express to open superstore on Henry Street
Vision Express is to open an optical superstore at 19 Henry Street after Colliers Jackson-Stops acquired the building from Clinton Cards. The passing rent of the two/three level building, which has 185 sq m (2,000 sq ft) on each level, is €460,000 per annum, with 24 years to run and a review in four years. The premium paid was undisclosed. Declan Stone of the agency said that more international retail clients are seeking outlets on Henry Street, which has seen an upsurge in activity in the past year.
€11m paid for housing site at Rocky Valley, Kilmacanogue
DTZ has secured €11 million for a development site with planning permission for 30 three, four and five-bedroom homes at Rocky Valley, Kilmacanogue, Co Wicklow. The agents suggest that the 14-acre site has further development potential. A site for 60 starter homes in Kells, Co Meath, was sold by the same agent for over €3 million. Sam Armstrong of DTZ Armstrong in Kells was joint agent. And DTZ Sherry FitzGerald McMahon secured €7.7 million at auction for a site of 37.62 acres at Clarecastle, Ennis, Co Clare.
