A roundup of today's other stories in brief.
€4m for houses on quays
An interesting redevelopment opportunity has arisen on the Dublin city quays where Kilbridge Auctioneers is selling two adjoining houses and one at the rear. The buildings at 5/6 Lower Ormond Quay and 6 Great Strand Street have combined floor areas of 901sq m (9,708sq ft) and a guide of €4 million. The buildings at the front, which require considerable upgrading, stand four storeys over basement while the one to the rear is three storeys. No 5 was occupied for many years by the Irish Historical Picture Company.
Crunch Fitness to open at Cherrywood Business Park
Crunch Fitness is to lease 2,787sq m (30,000sq ft) at first and second floor levels for a leisure centre in the new Facilities Building at Cherrywood Business Park in south Dublin. The facilities will include a 25-metre swimming pool, saunas, steam room, Jacuzzi and solarium. The new building will also have retail units from 60-336sq m (646-3,617sq ft). A convenience store will anchor the scheme and there will be five further units available, including a restaurant. Joint agents Atisreal and CBRE had been quoting around €215 per sq m (€20 per sq ft) for the leisure space and is seeking a rent of €538 per sq m (€50 per sq ft) for the retail element. Discussions are taking place with a convenience store operator as well as a coffee shop and sandwich bar operators.
Fashion City unit makes €2m
Ladies fashion specialist Michael Ambers International has paid €2 million for a mid-terrace wholesale fashion outlet at Fashion City, at the M50 Business Park at Lower Ballymount Road, Dublin 24. The 933sq m (10,043sq ft) building is within the central courtyard area of the development. The company plans to use the facility to drive its Dublin operations. Fashion City has been an outstanding success since it was launched by Michael Cotter's Park Developments in 2003. Savills HOK is marketing the last remaining unit in the park, a building of 733sq m (7,890sq ft) which is available at €1,514,240.
Over €3.5m for D2 investment
DTZ Sherry FitzGerald is looking for over €3.5 million for a retail investment at 95, 97 and 98 Pearse Street, Dublin 2. The buildings are producing €161,505 from Centra, William Hill and Barrett Mahony Consulting Engineering.
The same agency is seeking offers over €3 million for a detached retail building trading as Centra at Church Road, Ballybrack, Co Dublin. A 25-year lease will provide for a tenant break in year 15. The rent for the 276sq m (2,971sq ft) building is €135,000.
In Leixlip, Co Kildare, DTZ is quoting €1.4 million for a two-storey terraced building with two retail units at ground floor level and overhead residential space. The total rent is €68,000 per annum.
Mullingar warehouse for €4.5m
Savills HOK is seeking €4.5 million for a retail warehouse and grain store at Lynn Industrial Estate in Mullingar, Co Westmeath.
Sean Reilly pays around €20m for ready-to-go site in D7
Developer Sean Reilly has availed of the slowdown in the market to buy an apartment site at the North Circular Road in Dublin 7. His company, McGarrell Reilly, is understood to have paid around €20 million for 3.5 acres with permission for 170 apartments. The property was sold by Liam Stones of Bannon Commercial on behalf of the Christian Brothers.
High-end salon opens at The Oval complex in Ballsbridge
Mink Hand & Foot Spa, a New York-style manicure and pedicure salon, is opening its second outlet in Dublin at the prestigious office and retail development, The Oval, on Shelbourne Road in Ballsbridge.
Husband-and-wife team Jim and Orla Verling set up the first Mink Hand & Foot Spa in Donnybrook almost two years ago. The salon specialises in treatments for the hands and feet only, offering a diverse range of manicures and pedicures. The Oval is an ultra modern mixed-use development of 13,800sq m (148,542sq ft) of office space as well as a Jackie Skelly Gym and four retail units at ground level. The office building has only 2,665sq m (28,686sq ft) of office space still available. Among the newcomers to the retail element of the development is Starbucks which fronts on to Shelbourne Road. There are just two remaining retail units available to rent in the development - one of 258sq m (2,777sq ft) and the other of 302sq m (3,251sq ft). Rents of €700 per sq m (€65 per sq ft) are being sought. The units would be ideal for a variety of uses, including high-end furniture or kitchen showrooms, a bank, pharmacy or an interior design shop. The joint letting agents of the offices and retail units are Jones Lang LaSalle and HT Meagher O'Reilly.
€175,000 for Trim bar licence
The value of seven-day bar licences is now well established after the sale of many of them in recent years. In line with the benchmark prices, Aidan Heffernan of Sherry FitzGerald Royal Auctioneers in Trim is marketing the licence attached to the Emmet Tavern in Trim at an asking price of €175,000.
Sandyford investment makes €1.25m
A retail investment let to bookmaker Paddy Power and an overhead two-bedroom apartment at Sandyford village in south Dublin has been sold by Savills HOK for €1.25 million. The initial yield will be 3.53 per cent. The 104sq m (1,120sq ft) retail unit is rented by Power Leisure at €36,000 per annum. The apartment produces a rent of €13,200. Barbara Lennon of Savills HOK says that the prospects of an increase in the retail rent in this month's review was a strong selling point.
