Carroll properties on the market at discounted prices

A range of retail and office properties assembled by Liam Carroll's Zoe Group in Dublin city during the property bubble are to be offered for sale at significant discounts.

Brian Walsh of Jones Lang LaSalle is handling the sales for Ernst and Young who were appointed receivers by Bank of Scotland Ireland.

The most notable property going on the market is Carroll’s former headquarters, La Touche House, at the junction of Lower Rathmines Road and Grove Road, overlooking the Grand Canal. The three-storey office building extends to 741 sq m (7,981 sq ft) and is likely to be converted into apartments.

Whoever buys it is also likely to acquire two adjoining buildings, one of them let to a chiropractor at a rent of €28,500 per annum and the other a cafe. There are also six car parking spaces on site. The guide price for the mixed use properties is €1,295,000.

Residential use
Even closer to the city centre, the agents are quoting a guide price of €350,000 for a two-storey retail building known as La Rochelle and fronting on to Cornmarket Street. The unit has restaurant use on the ground floor and an overall floor area of 285sq m (3,068sq ft) on the two levels.

On the north side of the city, €250,000 is being sought for 100 Blackhall Square, a three-storey office building with a floor area of 218sq m (2,355 sq ft) which may well appeal to a professional practice. Alternatively, it could be redeveloped for apartments.

Off O’Connell Street, a price of €315,000 is being quoted for 108/109 Parnell Street, a ground and basement building recently let as a Vietnamese convenience store at a rent of €30,000 per annum.

Jones Lang is also seeking buyers for two high profile properties on Cork Street. One of them Reuben House, a five-storey office building with the top floor fitted out and the remainder in shell and core condition. A new owner is likely to convert it into residential use. A price of about €400,000 is being sought for the building and six car parking spaces.

The second property at 90/97 Cork Street comprises four retail units and overhead offices which are let to VIP Taxi and Courier Services at a rent of €38,204 per annum. The complex is expected to sell for about €650,000.