€825,000 for village shops, offices and bedsits in Ranelagh

BRIEFS:Turley Property Advisors is quoting €825,000 for two investment properties in Ranelagh Village, Dublin 6, which are being sold on the instructions of receiver WK Nowlan.

Number 98 Ranelagh Village, a ground floor retail unit let to Boyle Sports and two overhead apartments are producing €48,000. Ten years remain on the 35-year lease. The quoting price is €410,000.

Turley is seeking €415,000 for 1 Sallymount Avenue and 100-102 Ranelagh Village, which includes a commercial unit let to Phon Klai Thai Centre, six bedsits and four offices. The rent roll of €38,0000. could be increased to €50,000 when all the units are let. The sale does not include the art gallery.

Separately Turley is quoting €850,000 for a house at 64 Marlborough Road in Donnybrook, Dublin 4, which is divided into 14 residential units. It is producing €72,000 per annum.

Green light for 147 houses

Developer Gerry Gannon has secured planning permission for 147 houses alongside the proposed Islamic Cultural Centre and Mosque planned for Clongriffin on the northern fringe of the city. Dublin City Council has approved plans for the houses, which are likely to be bought mainly by Muslims.

Gannon Properties is awaiting permission for the €40 million complex on a six-acre site close to the new town centre in Clongriffin. Up to 500 jobs are expected to be created during construction. Gannon has spent a fortune on providing a range of public facilities at Clongriffin, including a Dart station, an internal street network, a 460-space park-and-ride facility, supermarket and department store, apartments and houses as well as a range of retail units.

Low rent agreed on showrooms

The Michael Grant Renault dealership has leased the former Winfield motor showrooms at Beach Road, Sandymount, Dublin 4.

Agent CBRE is understood to have secured somewhat less than the asking rent of €100,000 for the 744sq m (8,009sq ft) showrooms on a half-acre of grounds with parking for 40 cars.

The showrooms adjoin the Maxwell service station, which is owned by the McMullan family.

Their retail business has been expanding rapidly on both sides of the Border and, according to chief executive Tom Noonan, they believe that now is the right time to grow their operation. “We are keen to hear from people who want to sell well located, good-sized service stations,” he said.