More commercial property news in brief.
€105,000 paid for shop lease
Flower retailer Appassionata has paid key money of €105,000 for Claudio's wine shop at 28 Drury Street, Dublin 2. The outlet, at the busy entrance to the George's Arcade, has a floor area of 43sq m (463sq ft) and is rented at €33,000 per annum. Service charges account for another €6,000 to €7,000. Douglas Newman Good Commercial handled the assignment of the lease.
Claudio, an expert on the wine business, is opening a new wine store in the centre of Newtownmountkennedy, Co Wicklow.
The same agent is now looking for key money of €100,000 for one of the two adjoining shops run by Musician Inc at 27 Drury Street. The building has 174sq m (1,873sq ft) of floor space over four levels and is rented at €49,500 per annum.
538 per sq m rent for shop
Navan estate agent TJ Gavigan Real Estate Alliance has begun marketing a well located retail and office building which is about to be developed in the centre of the Co Meath town.
The three-storey block, right, will stand on the site of Finnerty's Bar at 1 Canon Row which was recently demolished. The agent is quoting a rent of €538 per sq m (€50 per sq ft) for the shop which will have a gross floor area of 250sq m (2,700sq ft) and should appeal to traders looking for a prime location in the town. The two upper floors will have a combined space of 500sq m (5,382sq ft).
Warehouse makes over €6m
An owner-occupier has paid over €6 million for a modern warehouse plus offices in Westgate Business Park in Ballymount, Dublin 12. Unit 1 in the estate, which is also home to TV3, has 2,993sq m (32,216sq ft) which includes 412sq m (4,435sq ft) of offices over two storeys. Westgate is well located beside the M50. Jones Lang LaSalle handled the sale.
The same agent is handling the assignment of a short office lease at Fitzwilliam Place in Dublin 2, at a competitive rent of €360 per sq m (€33.45 per sq ft). The 240sq m (2,583sq ft) of space on the first, second and third floors of 32 Fitzwilliam Place, beside Leeson Street bridge, is available for four years and nine months.
