A round-up of other commercial property stories.
Blanchardstown office to make over €750,000
A high quality, own-door office building at Blanchardstown Corporate Park in west Dublin has come on the market through DTZ Sherry FitzGerald with a guide price of over €725,000. Alternatively, the two-storey 255.79sq m (2,753sq ft) unit can be rented at around €42,000. There are six car-parking spaces available on-site. The Corporate Park is an exceptionally popular business enclave because of the excellent landscaping, the secure campus-style environment and the availability of extra facilities, such as a creche and a 200-seat restaurant. The park is easily accessible and has top class telecommunications links.
€1m for D4 retail investment
A small retail investment with future rental increases linked to the consumer price index has come on the market at Bath Avenue in Dublin 4. Douglas Newman Good Commercial is quoting €1 million for O'Connor's Pharmacy which is currently producing a rent of €29,400 per annum. The next rent review in November, 2009, will be based on increases in the consumer price index. The lock-up shop has a total floor area of 47.61sq m (512sq ft). The 35-year lease runs from 1999.
Blackrock office bought for €12m
An Bord Altranais has paid €12 million for a four-storey office building of 2,211sq m (23,800sq ft) at Carysfort Avenue in Blackrock, Co Dublin. The block was refurbished by owners Irish Life and has 29 on-site car-parking spaces. Last month An Bord Altranais got €13.1 million for its former headquarters, two interlinking Georgian houses at 31/32 Fitzwilliam Square, Dublin 2. It was bought by a firm of solicitors. Jones Lang LaSalle and HT Meagher O'Reilly handled the sale of the Blackrock block for Irish Life, while CB Richard Ellis acted for the board.
€200,000 key money for shop
Key money of €200,000 is sought for a shop at 5 Nassau Street in D2 where the tenant, Trinity Pharmacy, has relocated to Westland Row. The shop has 63sq m (678sq ft), a mezzanine office and basement storage of 62sq m (667sq ft). Retail agent Philip Owens is handling the lease assignment. The rent of €70,000 for 2007 is to rise to €75,000 for 2008 and 2009.
Heatons at Carrick-on-Shannon
Carrick-on-Shannon's strongly performing new shopping centre in Co Leitrim has been greatly helped by the arrival of Heatons which is trading out of a 1,393sq m (15,000sq ft) unit. This is its 51st store in Ireland. The UK sports giant Sportsworld also occupies a large ground floor store. David Fahey of letting agent CB Richard Ellis is in negotiations with a number of retailers on the remaining space in the first phase which will concentrate on fashion and the second phase which will be devoted to DIY, white goods, carpet and furniture operators.
Homebase to open at Fonthill
Homebase Superstore is to open a new store and garden centre with a floor area of 4,088sq m (44,000sq ft) at Fonthill Retail Park in Clondalkin, Dublin 22. The anchor unit will form part of a retail warehousing scheme with six units extending to 11,527sq m (124,075sq ft). One shop has been designated for a discount food operator. The new development by Green Property Co will be accessed off the internal access road to the Fonthill Industrial Park. Homebase has nine stores in Ireland and is planning further openings. CB Richard Ellis is quoting rents of €323 per sq m (€30 per sq ft) for the Fonthill scheme which is due to be completed in December.
€1.2m for ready-to-go site in D2
Turley & Associates is quoting €1.2 million for a ready-to-go site for a small residential scheme at Pleasants Place, between Camden Street and Heytesbury Street in Dublin 2. There is planning permission for three two-bed terraced mews houses, each with car-parking and garden. The vacant site of 0.0268 of a hectare is for sale by tender.
Puma to open near Banbridge
Global sports lifestyle brand Puma is to open its first Irish store at The Outlet at Bridgewater Park near Banbridge in Northern Ireland. Puma has taken a store of 465sq m (5,005sq ft) at the factory retail outlet centre which is to begin trading at Easter.
