A roundup of today's other stories in brief.
Site near Mount Anville school makes €17m
A well located site in the Dublin area will still attract a strong price even if the new homes market is in some trouble. Developer John Flynn has just paid €17 million for 2.6 acres opposite Mount Anville school on Mount Anville Road in Dublin 14. Jones Lang LaSalle handled the sale. While the plot is likely to be used for a residential scheme, Flynn also has the option of going for a mixed-use scheme or commercial or retail.
South Dublin residential sites sell for over €6m and €3.25m
Savills HOK has secured over €6 million at tender for a one-acre development site at Sandyford Road, Co Dublin. The new owner is likely to get planning permission for at least 35 apartments when a house on the site is demolished.
Meanwhile, a developer has paid €3.25 million for Clara House at Bray Road, Foxrock. The site of 0.49 of an acre is likely to be used for either four terraced houses or a small apartment scheme. DTZ Sherry FitzGerald was the selling agent.
Industrial units in Tallaght for €4.2m and €4.75m
Irish Property Unit Trust is selling two industrial investments at Broomhill Road in Tallaght, Co Dublin. CB Richard Ellis is seeking €4.2 million for 76 Broomhill Road, a detached unit on 0.71 of a hectare and let to the ESB at a rent of €230,000. The agent is also looking for €4.75 million for 81/82 Broomhill Road, two semi-detached buildings occupied by Sony at a combined rent of €266,000. The 35-year leases in both cases have nine years to run. At those prices, the return to purchasers would be 5 per cent after costs.
Agent opens dedicated Irish desk at its London office
Jones Lang LaSalle has set up a dedicated Irish desk at its London office which handled £9 billion (€14 billion) worth of property investment transactions in the UK last year. Rob Corbett, a native of Co Wicklow with seven years experience in the UK investment property market, has been appointed to lead the team and service the requirements of Irish investors in the UK. He will be working alongside the capital markets team of John Moran and Max Reilly in Dublin, as well as the large staff of investment specialists in London.
Corbett has specialised in identifying and advising on buying opportunities, on and off the market, in all sectors of commercial property for clients ranging from funds to high net worth individuals. His current projects include the on-going acquisition of two shopping centres and a number of transactions within the office and retail sectors.
€800,000 for Shankill shop
Both investors and traders will be interested in a two-storey retail building in Shankill village, Co Dublin, which is to be auctioned on May 10th. Lisney is quoting an AMV of €800,000 for the premises which is shortly to be vacated by the estate agency of Anne Kelly and Associates.
Violet House has a ground floor area of 57.3sq m (617sq ft). There is a separate entrance to the first floor area of 36.3sq m (391sq ft), allowing a new owner to let it separately. Shankill village is a thriving south Dublin suburb and is expected to become even busier when Castlethorn Developments builds 600 homes at Shanganagh Castle and a further 1,400 residential units at Woodbrook.
NCR showrooms for €3.95m
The former Hutton & Meade car showrooms at the junction of North Circular Road and Portland Road, Dublin 7, is to be sold by tender on May 16th. Ganly Walters is suggesting a price of over €3.95 million for the site of 0.045 of a hectare (0.11 of an acre) which would suit a retail or residential scheme. The same agent is quoting over €1.7 million for a detached house at Stockwell, Sandyford Road, Dundrum, Dublin 16, which also goes to tender. A feasibility study suggests it could accommodate 10 apartments and duplex units.
€484 per sq m rent on Green
Two floors of modern offices are available to rent through Jones Lang LaSalle in a Georgian building on the east side of St Stephen's Green in Dublin 2. The ground and first floors of 47/49 St Stephen's Green have 1,079sq m (11,614sq ft) in a mix of open-plan and cellular offices. The property can be let in its entirety or on a floor-by-floor basis. It was previously occupied by Barclays Bank and offers the potential tenant the opportunity of occupying a landmark property in one of Dublin's most exclusive areas. The agent is quoting an annual rent in the region of €484 per sq m (€45 per sq ft) for a flexible lease. There are also nine car-parking spaces.
Surveyors' new cost handbook
The Society of Chartered Surveyors has published an up-to-date edition on construction costs in the industry to help professionals prepare budgets and assess costs. The handbook has the latest information on wage rates and the cost of employing various skilled operatives in construction. It also deals with conditions of employment, such as pensions, sick pay, paid leave and employers' liability insurance.
