It is seldom enough that a shop near the junction of Grafton Street and Nassau Street comes on the market. For that reason DTZ Sherry FitzGerald is reporting strong interest in the lease of the former Mortons Jewellers store at 48/49 Nassau Street.
The owners are seeking a rent in excess of €165,000 under a new 25-year lease of the building which has a floor area of 260 sq m (2,799 sq ft) including 42 sq m (452 sq ft) at street level. There is permission for retail activities at basement, ground, first and second floors.
Mortons is one of the oldest family-run jewellers and silversmiths in Dublin, having been founded by Fred and Kate Morton in 1875. The family installed a new shop front and internal fittings in the 1990s.
Arran Quay office/retail investment makes over €4.6m
A modern retail and office investment, Haliday House, overlooking the Liffey at Arran Quay, Dublin 7, has been sold for over €4.6 million by joint agents Farley Property and Aidan Ringrose & Associates.
The four-storey building is currently producing €192,000 and, when a tenant is found for the vacant office suite, this will bring in an additional €20,000 per annum. The tenants include Bank of Ireland on the ground floor. The new owner will be able to avail of €1 million in capital allowances. The agent is seeking over €1.5 million for a site with planning permission for a 23-bedroom hotel with a floor area of 1,270 sq m (13,670 sq ft).
Bath Avenue redevelopment site to make over €1m
Agent Druker Fanning & Partners is likely to secure in excess of €1 million for a well-located redevelopment opportunity at 11 Bath Avenue in Dublin 4, which goes to auction on April 29th. The single-storey end-of-terrace house is located less than 50 yards from the Beggars Bush junction and there is full planning permission for a two-storey building of 2,500 sq m (26,910 sq ft) for a medical consultants offices.
The facility will be capable of providing up to 12 consulting rooms with a central reception area.
Over €100,000 key money for College Green shop
A small, well-located shop at 12 College Green, Dublin 2, has become available with the decision by the owners of Mad Flowers to sell on the lease.
Agent Weir & Conway is seeking key money of over €100,000 for the shop and basement - each has a floor area of 40 sq m (431 sq ft) - near the junction of Trinity Street and Dame Street. The rent was recently reviewed and stands at €43,000.
€250,000 premium paid for lease of Limerick cafe
Fashion outlet New Look has paid a premium of ... €250,000 for the lease of the former Cruises Cafe at Cruises Street in Limerick. The outlet has a floor area of 320 sq m (3,444 sq ft) at street level and 250 sq m (2,691 sq ft) overhead.
The rent is €312,904 per annum. Hugh Markey of Lisney, who acted for the café owners, said the disposal highlighted the continuing success of Cruises Street. Lisney also recently acquired the Gymboreee outlet in the street for the Ann Summers adult shop. DTZ acted for New Look.
In Ennis, Cassidys Pharmacy, part of the 30-strong McSweeney Pharmacy Group, has paid a substantial premium for Mary's shop in O'Connell Street. The new occupier will be paying a rent of €150,000 for 550 sq m (5,920 sq ft) on the ground floor and 700 sq m (7,535 sq ft) overhead. Lisney advised the pharmacy group and Sherry FitzGerald McMahon acted for the vendor.
DTZ Sherry FitzGerald has also found a client in Land of Leather for the former Compustore at Leopardstown Retail Park in south Dublin. The new tenant will be paying a rent of €285,000 for almost 836 sq m (9,000 sq ft).
Booterstown offices leased
for €300 per sq m
Orix Aviation Systems has leased the second floor of Block A, Booterstown Hall, the former First Active HQ at Booterstown Avenue in Co Dublin. The company will be paying a rent of around €300 per sq m for 810 sq m (8,712 sq ft) and €1,400 for each of the 17 car-parking spaces. The final two remaining floors of 650-1,450 sq m (7,000-15,608 sq ft) are available through CB Richard Ellis Gunne and Palmer McCormack.
David Power of Orix Aviation, which has been based in the IFSC up to now, said they were delighted with the available space, the views and the great location for both staff and customers.
Clarion Hotels to open in Cork, Dublin and Sligo
The first of three new Clarion Hotels due to open in Ireland this year, an impressive four-star building overlooking the river Lee in Cork, will beging trading early next month. Clarion Hotels will also open this year at Liffey Valley in west Dublin and Sligo. The principal hotels are at the IFSC in Dublin and Steamboat Quay in Limerick.
Clics Boutique
The premises of Clics Boutique on North Main Street, Naas, Co Kildare is for sale through Nolan & Brophy, which is seeking €1.2 million. The boutique is not being sold as a going concern as was reported in the last week's Commercial Property supplement.
