A roundup of today's other stories in brief.
Louis Feraud shop on Duke St sells for around €4.8m
A private investor has paid around €4.8 million prior to tender for the Louis Feraud men's fashion shop, right, at 24 Duke Street, Dublin 2. DTZ had been quoting a guide price of €4.5 million for the 173sq m (1,862sq ft) building which is let on a 25-year lease from 2001 and has a passing rent of €133,322. The rent was due to be reviewed in April, 2006. The shop was one of four city centre properties due to be sold at tender today by Royal Liver Assurance.
Shankill house on 1.65 acres sells for close to €6 million
DTZ Sherry FitzGerald has secured close to €6 million for Abingdon, a five-bedroom Georgian house on a site of 1.65 acres at Shanganagh Road in Shankill, Dublin 18. A feasibility study has shown that the site could accommodate a terraced and a detached housing scheme or a medium and a high density apartment development. The double-fronted house has 65 metres of frontage onto Shanganagh Road and is within easy reach of the M50 at Cherrywood.
Rents from €377 per sq m in new Ballaghaderreen retail complex
Bannon Commercial has launched a marketing campaign for a new shopping complex of 2,991sq m (32,200sq ft) in the centre of Ballaghaderreen, Co Roscommon. The scheme will be anchored by a SuperValu supermarket of 2,202sq m (23,702sq ft). There will be 12 retail units ranging in size from 15sq m (161sq ft) to 141sq m (1,518sq ft). Rents will be from €430 per sq m (€40 per sq ft) on the mall and €377 per sq m (€35 per sq ft) for external units. The town is on the N5 (Dublin-Ballina road) and has a population of 11,500 within a 15-minute drive.
D4 office suite with low rent
An office suite of 509.74sq m (5,487sq ft) is available to rent at less than the current market rates through Jones Lang LaSalle in an ideal location between the embassy belt and the central business district in Dublin 4. The offices are on the second floor of Fleming Court in Fleming Place, Dublin 4, and are available by assignment on a nine-year and 11 months lease from 2004. "The current passing rent equates to €387.53 per sq m and €3,250 per car space which is significantly below the current quoting rents in the area of up to €645 per sq m," according to Trish Byrne of the agency. The lease includes a break option in year five.
Drogheda bank for €7.8m
The Bank of Ireland at Lawrence Street, Drogheda, has come back on the market only months after being sold to a private investor.
Robert Murphy of CB Richard Ellis is now seeking €7.8 million for the branch, six months after it sold as part of a portfolio. The bank has agreed to lease back the 676.7sq m (7,284sq ft) building at a rent of €269,248. The 25-year lease does not include any break options.
Bannon Commercial wins award
Bannon Commercial has been named as "All Ireland Retail Agent of the Year" at an awards ceremony in London. Bannon's success in securing the "Spectre Award" is all the more surprising because the agency, with 20 retail surveyors, was only founded in January, 2005. It will handle the launch of 11 retail developments this year, including Athlone Town Centre, phase two of the Pavilions, Bridgewater Centre in Arklow, Citywest shopping centre in west Dublin and Gorey Town Centre. The company also manages retail facilities worth over €5 billion.
€6m for 32-acre Edenderry site
Joint agents Douglas Newman Good and DNG Cowen Kellaghan are quoting €6 million for a 32-acre site within Edenderry town boundary which is for sale by private treaty. Although the land has not yet been rezoned for housing, it has obvious development potential and access to all main services. The recently adopted Edenderry local area plan designated the farm as "white lands" in preparation for a further detailed local area plan for the area.
Keen rents at Park West
The Park West policy of offering one of the lowest office rents in the Dublin area is continuing to work. National Linen has relocated from Fonthill to Park West where it will rent 1,203sq m (12,950sq ft) of office space at near the asking price of €193 per sq m (€18 per sq ft) with a break option in year 10. Ian Campbell of Lambert Smith Hampton describes Park West as "one of Ireland's largest multi-purpose business campuses with commercial, residential, retail and integrated leisure uses". More than 240 companies employing 8,000 people are based at the park.
Large mixed-use schemes for D1
The owners of the former Tedcastle site at North Wall Quay in Dublin 1 are seeking planning permission for an office development on the land which extends to 0.8877 hectares (2.193 acres). Wintertide Ltd is lodging its planning application for a seven-storey block of 33,345sq m (358,922sq ft) with Dublin City Council rather than with the Dublin Docklands Development Authority. There will be two retail units at street level and 111 car-parking spaces along with 333 bicycle parking spots in the lower basement. Meanwhile, Spencer Dock Development Co is also applying to Dublin City Council for permission to build an eight to 10-storey office block with a floor area of 16,693sq m (179,682sq ft) at the junction of North Wall Quay and New Wapping Street. It will have 56 car-parking spaces.
