A roundup of today's other stories in brief.
Mount Street Georgian makes over €5 million
Parkway Properties has paid over €5 million for a new headquarters building at 17 Mount Street Upper, Dublin 2. The Georgian house has a floor area of 297sq m (3,197sq ft) and eight car-parking spaces. There is a mews building to the rear at Stephens Lane extending to 97sq m (1,044sq ft) with a car-parking space.
Lisa McInerney of DTZ Sherry FitzGerald said the sale underlined the continuing demand for well located Georgian buildings. DTZ has now sold five Georgian office buildings in Dublin 2 and 4 this year.
Guide for Henry Street retail investment rises to €13 million
Lisney has raised its guide price from €11 million to €13 million for a retail investment at 36 Henry Street, Dublin 1. The building is let to Irish Life & Permanent under a lease which has another 16 years to run. The current rent of €240,000 is expected to rise to around €400,000 when it is reviewed in June of next year. Ann Hargaden of Lisney says that, when the rent is reviewed, the investment should show a return of 2.75 per cent.
Fitzwilliam Place Georgian sells for over €5 million
Another Georgian house at 33 Fitzwilliam Place, Dublin 2, also changed hands for €5,050,000 last Thursday when it was auctioned by Lisney. It has a full-length garden and a mews to the rear. It has been owned by the same principal for the past 70 years.
The four-storey over basement mid-terrace house has a net internal area of 374.64sq m (4,033sq ft) and has been in commercial use for a number of years. Planning permission was recently secured to convert the basement into a two-bedroom apartment with its own entrance. The two-storey mews fronting on to Leeson Close is let to an electrical wholesalers at a rent of €27,000 per annum.
City centre retail investments from €500,000 to €1.1 million
Agent Quinn Agnew is currently marketing three retail investments in Dublin city centre. The agency is suggesting a price of €1.1 million for a shop at 10 Springers Yard in Temple Bar which is producing a rent of €42,000 per annum. It has a retail area of 70sq m (753sq ft). Also for sale at around €500,000 is number 8 Springers Yard which has a floor area of 32.5sq m (350sq ft) and is let to a tattoo artist. The tenant is paying a rent of €15,500 and is seeking a new lease. The new rent is likely to be around €20,000 per annum.
Quinn Agnew is also looking for €1 million for a coffee shop near the Lord Edward bar and restaurant at 3/4 Werburgh Street, Dublin 8. The 61sq m (657sq ft) unit is rented at €42,500 per annum, a figure that would produce a net yield of 3.9 per cent.
Terenure site of 3.44 acres sells
A housing site of 3.44 acres at Mount Tallant Avenue, Terenure, Dublin 6W, has been sold at tender. Atisreal Harrington Bannon had been quoting €34 million for the site and, according to the agency, "it sold successfully at tender". The spokesman was not prepared to say whether it had made the guide price. About 95 per cent of the land is zoned for residential use while the remaining strip fronting on to Harold's Cross Road has a mixed-use zoning.
Council rejects office block on site of former sports facility
A proposal to demolish a former Bank of Ireland sports facility to the rear of 92-93 St Stephen's Green South, Dublin 2, and build a five-storey office block has been refused planning permission by Dublin City Council which said its scale, height, design and site coverage would represent "gross overdevelopment" of the site.
Leo Mohan was looking to knock the single storey club, function room stores and squash court - which was formerly used by the Bank of Ireland Officials Association - and which occupies 40 per cent of the site. The council also said the development would be within the curtilage of two protected structures, numbers 92 and 93 St Stephen's Green, and under the Z8 zoning objective, it encourages a mixture of residential and commercial uses, with a maximum of 50 per cent offices permitted.
Neighbouring properties include a five-storey office building to the rear of the Department of Justice, Equality and Law Reform and, further back, a seven-storey building which is part of the Russell Court complex.
Business park planned for 17-hectare site at Ballycoolin
Dundalk-based company Castleway Property Management Limited is looking for planning permission to build Huntstown Business Park on a 17-hectare site at Ballycoolin in Dublin 15.
It has applied to Fingal County Council for a 32,244sq m (347,071sq ft) development of mixed-use logistics, office, enterprise, warehouse and industrial accommodation. This would be phase one of a wider mixed-use master plan development. The site is principally bounded by undeveloped lands at the Cappagh Road to the north; the Stadium Business Park to the south; the Millennium Business Park to the east; and Rosemount Business Park to the west.
The phase one development would consist of two three-storey office buildings, 30 part two-storey own-door enterprise units in four buildings comprising industrial and office accommodation, and six part-two and three-storey logistics, warehouse, industrial and office buildings.
