Bank of Scotland's welcome expansion of its retail banking operation in the Republic may not go as smoothly as planned in all areas.
The bank plans to base its expansion on 54 ESB retail outlets it is acquiring around the country.
However, six of these are in shopping centres and, according to retail experts, the bank may have difficulty securing planning permission for a change of use and, even more importantly, may also run into trouble with landlords who regard banks as "dead frontage" in shopping centres.
Interestingly, the recently opened Dundrum Town Centre does not have a single bank. Others which do accommodate banks or building societies generally insist that they trade out of off-pitch locations.
Six of the ESB shops are located in shopping centres in Blanchardstown, Stillorgan, Rathfarnham, Tralee, Mullingar and Golden Island in Athlone.
Ward Anderson Group opens 12-screen cinema in Cork
The Ward Anderson Group will tomorrow open a 13-screen omniplex at Mahon Point in Cork. The €10 million facility will be the largest in the city with 2,642 seats. The shopping centre opened at the beginning of February and has 50 retail outlets and three restaurants.
Mews on Fitzwilliam Lane makes over €2m
A freehold mews building with commercial use at 66 Fitzwilliam Lane, Dublin 2, has been sold for over €2 million through estate agent Michael Turley. The ground floor has 55.7 sq m (600 sq ft) while the first floor has 195 sq m (2,100 sq ft). There are eight on-site car-parking spaces.
Apartment site in D8 withdrawn at €1.5 million
A site of one-quarter of an acre with full planning permission for 21 apartments at 379-383 South Circular Road, Dublin 8, was withdrawn at €1.5 million at an Allen & Townsend auction. The site also has permission for 18 car-parking spaces.
Retail developments to continue growing
A new report on the property market from solicitors Eugene F Collins predicts continuing growth in retail property developments nationwide, a recovery in the Dublin office market and increased land sales for development. Sean Twomey says that this year will see the opening of a number of significant retail developments throughout the country.
There was also impetus for many existing centres to enhance their offering either by altering the current tenant mix or undergoing significant refurbishment programmes.
BoI to pay €269 per sq m for office on Stillorgan Road
Bank of Ireland has leased an office suite on the first floor of the Cranford Centre near the Montrose Hotel, Stillorgan Road, Co Dublin. The bank will be paying a rent of €269 per sq m (€25 per sq ft) for 195 sq m (2,100 sq ft) under a 25-year lease.
There are break options in years five and 10. Arthur Ryan of Druker Fanning and Partners is now marketing the balance of the floor which has an area of 270 sq m (2,906 sq ft) at the same rent. David Potter of Hamilton Osborne King advised the bank.
Site of 21 acres in Co Cavan expected to make over €4m
A site of 21 acres with planning permission for 48 houses at Kingscourt Road in Bailieborough, Co Cavan, is expected to sell for over €4 million when it is auctioned on April 20th through DTZ Sherry FitzGerald and T M Smith Auctioneers. The site, which overlooks the town centre, may also be sold in three separate lots.
Naas boutique on the market for over €1.2 million
An exceptionally well located ladies' fashion boutique, Clics Boutique at North Main Street, Naas, Co Kildare, is for sale as a going concern through estate agents Nolan & Brophy. The firm is seeking offers of over €1.2 million for the two-storey building and the business, which are only two doors from Superquinn. Clics has built up a huge clientele over the 28 years it has been in business.
Shop in Dún Laoghaire shopping centre for sale
Lisney is quoting €269 per sq m (€25 per sq ft) for a large shop on the third level of Dún Laoghaire Shopping Centre. The former motor store extends to 265 sq m (2,852 sq ft) and can be combined with another shop of 122 sq m (1,313 sq ft) giving a combined floor area of 387 sq m (4,165 sq ft). The centre has been trading since 1978 and is anchored by Tesco.
Dún Laoghaire residents appeal permission for Lidl
Local residents have appealed Dún Laoghaire Rathdown County Council's decision to grant permission to Lidl for a discount foodstore, five shops and a gym on the former GlaxoSmithKline site at the junction of Grange Road and Stonemason's Way, Rathfarnham, Dublin 16.
The development would compromise the viability and vitality of neighbourhood and local centres in the area, according to the Grange Wood Residents' Association.
Plans to build a 1,735 sq m (18,675 sq ft) discount food store in a residential area will seriously affect the lives of local homeowners as a result of the huge volume of additional traffic , they said in a submission to An Bord Pleanála.
18-unit shopping centre planned for Sallins, Co Kildare
Property developer William Neville and Sons is seeking permission to build an 18-unit shopping centre on Main Street, Sallins, Co Kildare.
The two-storey 9,889 sq m (106,444 sq ft) shopping centre will have an internal mall measuring 1,295 sq m (13,939 sq ft), which will house 17 retail units and one anchor food hall. Some 685 car-parking spaces will be provided as part of the scheme on a 37-hectare site.
