A ready-to-go site of less than one acre with planning permission for 21 apartments and two four-bedroom houses off the Stillorgan dual carriageway in Blackrock, Co Dublin, has been sold at auction for €7.75 million - a full €4 million above the guide price.
Brendan Byrne of DTZ Sherry FitzGerald handled the sale of the site for housebuilders Glen and Barry Leddy, who opted to put it back on the market after getting planning approval. They had paid €2 million for the site and a large house, Meadow Court, after it failed to sell at a Sherry FitzGerald auction. They subsequently received planning permission to demolish the 1930s house to make way for the new scheme. The site has been bought by Wexford's Sugrue brothers.
€400,000 for lease of One Hour Photo
Agent Finnegan Menton is expecting considerable interest in the lease of a One Hour Photo shop almost opposite the entrance to the St Stephen's Green Shopping Centre in Dublin 2. The 307 sq m (3,311 sq ft) building has 79 sq m (847 sq ft) at street level and is held on a 25-year-lease from 1994 at a rent of €114,273 per anum. Spectra Photo, which recently acquired the One Hour Photo business, is seeking €400,000 for the lease.
New agency to market shopping centres
Lambert Smith Hampton's former chief executive in Dublin, Fintan Tierney, has teamed up with Sean O'Neill, Rosemary Casey and Karl Stewart to form a new commercial practice, C S Tierney O'Neill. O'Neill, who also worked with LSH, is to continue to specialise in the investment market. The new firm will be marketing several shopping centres and retail park developments including Clare Hall Shopping Centre on the Malahide Road, the extension to Wilton Shopping Centre in Cork, Crescent Shopping Centre in Limerick, Lakeland Retail Park in Cavan and Meridian Point in Greystones. The firm says it has also been retained by a range of retail clients including Argos, Boots, Birthdays, C& J Clark and O'Briens Sandwich Bars.
