Other commercial property stories in brief
€5.5m redevelopment site of 0.9 acres at Lambs Cross
A large detached bungalow on a site of 0.36 of a hectare (0.90 of an acre) at Sandyford Road in Dublin 18 is expected to be used for an apartment or duplex development when it is sold at tender on March 7th. Mark Hennessy of Savills Hamilton Osborne King is quoting a guide price of €5.5 million for the property beside Lambs Cross, close to the M50 and the Luas station at Sandyford. He said the site should appeal to those wishing to develop in "this strong southside location".
Over €9m for site at Belview Port near Waterford
A site of 6.98 hectares at Belview Port on the east side of the N29 close to Waterford city is expected to make over €9 million when it is offered for sale by tender on March 14th through CB Richard Ellis and Purcell Properties. There is full planning permission for 13,936sq m (150,000sq ft) of industrial and office buildings. The port area is served by two railway lines and has direct access, via the N29, to and from the N25 Euroroute.
Half-acre Foxrock site beside N11 to make over €3.5m
DTZ Sherry FitzGerald is quoting over €3.5 million for a corner site of 0.20 hectares (0.49 of an acre) at the intersection of Kill Lane and the Stillorgan dual-carriageway in Foxrock, Co Dublin, which goes to tender on March 8th. It is likely to be used for either an apartment or housing scheme.
€484 per sq m rent for office space at landmark building
The second floor of the landmark Treasury Building on Dublin's Grand Canal Street is available to let at an annual rent of €484 per sq m (€45 per sq ft).
Owned by Treasury Holdings, the accommodation is available to lease immediately and offers an open-plan layout, including a reception and 20 car-parking spaces. Jones Lang LaSalle is marketing the property, developed on the site of the historic Boland's Mills in Dublin, which extends to 1,879sq m (20,225sq ft) of office space.
The building was recently launched at a reception attended by many people from the property industry. The theme of the event was based on a New York style café and was a huge success with agent Paddy Conlon winning a trip to New York. The Treasury Building is home to the National Treasury Management Agency, EDS, Merrill Lynch and Elan. The Treasury Building is adjacent to Barrow Street Dart station and numerous suburban bus routes on the southside of the city. The spec includes raised access floors, suspended ceilings, air-conditioning, and generous floor-to-ceiling heights.
New board members appointed at Park Developments
Geraldine Mullins (sales and marketing director) and Dick Cuddihy (commercial director) have been appointed to the board of Park Developments, one of Ireland's largest and most successful property development companies. The other directors are Michael and Angela Cotter, Paul Sheeran and Paddy O'Rourke.
Over €2.1m for small D2 office
Davin Auctioneers is selling another office building at Clanwilliam Square in Dublin 2. The agency is seeking over €2.1 million for 14 Clanwilliam Square, a three-storey building with 154sq m (1,658sq ft) of floor space and two car-parking spaces. The price equates to €13,000 per sq m (€1,208 per sq ft) if one allows €50,000 for each of the car-parking spaces. Given the shortage of office space of this size in Dublin 2, the agent said it is anticipating strong interest in the building from owner-occupiers and also investors.
Agents look to assign lease of Merchant's Quay office
Joint agents HT Meagher O'Reilly and Lisney are planning to assign the lease of a five-storey office block overlooking the Liffey at 20/23 Merchant's Quay, Dublin 2. The building, with a floor area of 1,940sq m (20,882sq ft) and 42 car-parking spaces, has been substantially refurbished and has floor boxes wired for power and data cabling. There are two lifts. Floors range in size from 338.73sq m (3,646sq ft) to 408.68sq m (4,400sq ft). The building is available to let by assignment or by sub-lease under a 35-year lease from 1992. The overall rent is €768,191.
Fortune 500 firm takes space at Blackrock Business Park
CIT, a Fortune 500 company that provides sales and financing solutions to many leading US firms, has leased a further tranche of space at The Arch in Blackrock Business Park in south Dublin.
The company is taking an additional 1,690sq m (18,192sq ft) of space close to where it occupies another block. The firm will pay €376 per sq m (€35 per sq ft) for space on the first and second floors and €398 per sq m (€37 per sq ft) at penthouse level. The long lease provides for a break clause in year 15. Darren Nugent of CB Richard Ellis, who handled the letting, is also marketing a further 1,153sq m (12,411sq ft) of space within The Arch and further accommodation in another part of the park which is being developed by Tibany Properties, a company controlled by Ed Brady, Jimmy Flynn and Tom Kelly.
