A roundup of today's other stories in brief.
Over €500,000 for Merrion Row lease
DTZ Sherry FitzGerald is seeking offers over €500,000 for the lease of the high profile premises occupied by its sister company, Sherry FitzGerald Residential, at 13A and 13B Merrion Row, Dublin 2.
The premises extends to 259sq m (2,788sq ft) over two levels with an additional 53sq m (570sq ft) of a ground floor forecourt. It is held under two leases at a combined rent of €114,692. Permitted uses for the building under the local development plan include restaurant, café and public house. Karl Stewart of DTZ says that interest in the premises has already been strong from a number of retailers from varying backgrounds. The building is located on a particularly busy stretch of the city where there are a number of restaurants, including Bang Cafe, the Unicorn and Rubicon. It is also close to the Merrion Hotel, the new Shelbourne and the Conrad. DTZ is inviting best offers by the close of business on May 26th. Sherry FitzGerald Residential is moving its operations to Ballsbridge.
Castlethorn buys site beside Woodbrook for region €160m
Castlethorn Developments, one of Dublin's most dynamic developers, has emerged as the purchaser of a large site near Woodbrook Golf Club at Shankill in south Dublin. The company, which owns the €1 billion Dundrum Town Centre, paid in the region of €160 million for 52 acres owned by Sir Mark Corcoran. It is expected to accommodate up to 2,000 new homes and 13,935sq m (150,000sq ft) of retail facilities. The sale was handled by CB Richard Ellis.
Over €3m for investment on Bray's Main Street
A commercial investment at Main Street in Bray, Co Wicklow, has come on the market through joint agents CB Richard Ellis and HJ Byrne. The agents are seeking offers over €3 million for the two-storey building which has a retail unit at ground floor level and offices overhead. It is currently producing rents of €88,375 from Budget Travel, Rea Mortgages, Rory McGarry, solicitors and Dr Graham Fry. Two rent reviews are overdue and another is due to be revised early next year.
Over €2 million for Georgian house at Hume Street
A four-storey over basement Georgian house at 16 Hume Street, Dublin 2, is expected to make over €2 million when it is sold at tender through DTZ Sherry FitzGerald. The building, located opposite the Dublin Skin and Cancer Hospital, backs on to Merrion Court where the Unicorn restaurant is based. The house has a net internal area of 142.3sq m (1,532sq ft) and has been well maintained, according to the selling agent.
Over €8m for 1.21-acre Arklow site zoned town centre
A site of 1.21 acres with town centre zoning at Main Street, Arklow is expected to attract considerable attention when it goes on the market this week. The property has served as the base for P Bolands Builder Providers for almost 200 years. The company has now relocated to a new showroom on the outskirts of the town. Arklow is a rapidly developing town with a current population of 10,000 which is expected to grow to 21,000 over the next decade.
HT Meagher O'Reilly, which is seeking offers over €8.5 million for the property, says that a feasibility study has shown that it could accommodate 1,393sq m (15,000sq ft) of retail space and 108 apartments.
Refurbished industrial and office building makes €10m
Modern Kitchens has paid €10 million for a newly refurbished industrial and office premises at Western Industrial Estate in Dublin. The facility extends to 7,003sq m (75,379sq ft) and stands on a site of 3.73 acres. Agent William Harvey and Co said it was one of the most significant sales in 2006 of a building for occupation as opposed to a redevelopment opportunity.
Developer buys former Ricoh plant at IDA park for €2.5m
Property developer Brian O'Farrell has increased his land holding in the Clonshaugh area of Dublin 17 by buying the former Ricoh plant at the IDA Business and Technology Park for €2.5 million. The 2,004sq m (21,571sq ft) building stands on a site of 0.52 of a hectare and, according to Brian Berg of Hamilton Osborne King, developers are keen to buy properties with future development potential.
€1.55m for Bray retail unit
Bray agent HJ Byrne is suggesting a price of €1.55-€1.6 million for a prominent retail premises at 34 Main Street, Bray, which goes to auction on May 30th. The owners are planning to retire after many years. John Doyle of the same agency expects to secure around €1 million for a light industrial unit of 432sq m (4,650sq ft) in the town which is producing a rent of €49,000. It's also for auction on May 30th.
Instore to relocate in Galway
Instore, the home furnishings group, is to relocate from Merchant's Road in Galway to the recently completed Well Park Retail Park on the outskirts of the city. Instore will occupy a unit of 743sq m (8,000sq ft). It also has outlets in Limerick, Sligo and Waterford and plans two more stores in the near future. Property developer Gerry Barrett, who owns Well Park, has bought Instore's Galway premises at Merchant's Road for an undisclosed sum.
