BRIEFS:Fashion chain A-wear is to open a new store at Liffey Valley shopping centre in west Dublin.
It has agreed to lease the former JD Sports shop – that trader has relocated to a larger unit – at a rent of around €175,000 per annum.
The company has taken a 10-year lease of the premises which has a floor area of 201.7sq m (2,171sq ft) and a mezzanine extending to 101sq m (1,087sq ft).
A-wear has around 20 outlets, having opened two in September at Mary Street in Dublin and Patrick Street in Cork.
Florence Stanley of CBRE is advising the group and Diane Creane of Savills acted for Liffey Valley.
Healthcare firm for HQ building
WhatClinic.com, an online healthcare business, has taken a five-year lease of a headquarters building fronting on to Duke Lane and Dawson Street and next to the Hibernian Way shopping mall in Dublin 2.
Dublin’s newest firm of commercial property advisers, Xavier McCaffrey, had been quoting a rent of €269 per sq m (€25 per sq ft) for the predominantly open-plan space which extends to 384sq m (4,133sq ft).
Close by finance experts Simon Shirley Advisers has leased the ground floor at 30 Molesworth Street at a rent of €194 per sq m (€18 per sq ft). Antoine Xavier of Xavier McCaffrey advised the tenant and David Cassidy of HT Meagher O’Reilly acted for the landlord.
Kevin Nowlan leaves Nama
Kevin Nowlan (MRICS, MBA) is to return to his former employer after three years with Nama as a senior portfolio manager.
He will be returning to his former role as managing director of WK Nowlan +Associates, the leading Irish property asset managers.
Bill Nowlan, currently MD of the business, will in future be concentrating on developing the rapidly expanding investment section of that firm.
Michael Gilmartin, up to recently head of banking at KBC Bank, will continue as non-executive chairman of the firm which now employs 20 professionals across a range of disciplines and whose clients include all the Irish banks and many large property holding entities.
Boyle Sports for Wicklow Street
A shop at 29 Wicklow Street, Dublin 2, has been taken over by Boyle Sports. It will be paying rent of €56,000 pa after three months rent-free.
German firm to restructure loan
CR Investment Management, a German asset management company which has just opened a Dublin office, has been contracted by a financial institution to restructure a €300 million loan underpinned by a portfolio of some 40 properties across Ireland.
The mix of assets includes retail, office, residential and land.
Chris Ogle, managing director of CR in Ireland, said they planned to focus on improving the properties and maximising the value of the portfolio as a whole.
CR Investment Management plans to recruit a staff of six in Dublin.
The company has 300 other employees and more than €4 billion of assets under management in five European countries.
Cherrie Bum for former Pepe shop
Fashion retailer Cherriebum.comhas opened its first high street shop at 30 Exchequer Street, Dublin 2. The shop formerly traded as Pepe and has a floor area of 73sq m (785sq ft). Nigel Kingston of DNG, who acted for the landlord, said that the new 20-year lease at an initial rent of €52,000 per annum was a clear indication of the demand for shops in the city.
€400,000 for former TSB branch on Main Street
Florence Stanley of CBRE is seeking offers over €400,000 for the former TSB banking premises at Main Street, Lucan, Co Dublin. The two-storey end-of-terrace building has a ground floor retail area of 119sq m and a further 52sq m overhead. The building has a high-spec fit-out including suspended ceilings, recessed lighting, CCTV and air conditioning.
