The leasing division of Rabo Bank, De Lage Lande, is to rent 1,161 sq m (12,500 sq ft) of office space on the first floor of the Tower Block at George's Quay Plaza in Dublin 2. This will reduce the volume of vacant space to 2,787sqm (30,000 sq ft) at ground, second and third floors.
Jones Lang LaSalle had been quoting a rent of €409 per sq m (€38 per sq ft) for the space but is likely to have settled for significantly less because of the high vacancy level in the market. The lease would normally include at least one break clause.
€1.5m for retail investments on Lower Pembroke Streets
Hamilton Osborne King has secured around €1.5 million for two retail investments at Lower Pembroke Street, Dublin 2. The shops are producing €48,000 while the upper floors, which have a separate entrance, are currently unlet but could produce an additional €18,000.
The property forms part of a parade of shops close to the junction of Lower Pembroke Street and Lower Baggot Street.
Little Caesar's building in Blackrock for €1.6m
An attractive retail and office investment, right, at 21 Main Street, Blackrock, Co Dublin, has come on the market through Hamilton Osborne King. The agency is seeking over €1.6 million for the three-storey over basement building with a total floor area of 2,151 sq m (23,153 sq ft).
The ground floor and basement are let to Little Caesar's restaurant at a rent of €38,092 which is due for review in October, 2004. Offices on the first and second floors are producing €12,500 which are due to be reviewed next January.
No guide for site in centre of Newtownmountkennedy
A site of 1.5 hectares in the centre of Newtownmountkennedy, Co Wicklow has come on the market through the Phillips Partnership. The land has good road frontage and under its town centre zoning could be used for a good mixture of developments. These can include shops, offices, residential, pub, cinema, recreational or other town centre uses.
Phillips say the site is likely to set the benchmark for development values in the town. "To assist the freedom of the market, no guide price is being set," says the agency.
Period office building in D6 for €150,000 per year
McNally Handy is seeking offers in the region of €150,000 per annum for a detached period office building at 9 Appian Way, Dublin 6. It would be ideal as a headquarters building, having a floor area of 296 sq m (3,186 sq ft). Fourteen car spaces are included in the rent.
Garages in Mullingar and Tullamore for sale
Two more long-established petrol filling stations and garages on the main streets of midland towns are shortly to disappear. Mark Reynolds of Hamilton Osborne King is handling the sale of two virtually identical properties in Mullingar, Co Westmeath, and Tullamore, Co Offaly.
He says the sales reflect the passing of what was once a pivotal part of the commercial life of many Irish towns over the last 80 years - the main street petrol filling station and garage.
O'Callaghans garage at Dominick Street, Mullingar, which has been in business for eight decades, diversified into a fishing tackle shop in recent years. The retail area is likely to be enlarged and a site at the back used for an apartment scheme when it is sold at auction on December 11th. The guide price is €1.35 million.
The second property, Walsh's Fancy Goods and Filling Station on High Street in Tullamore, is a three-storey over basement building with a large rear yard. It is next door to Tullamore Shopping Centre. HOK and joint agent Keegan Property Partners are quoting a guide of €1.4 million for the garage, for sale by private treaty.
OPW's plea to developers for Galway office space
Developers in a position to provide between 2,500 and 4,000 sq m (26,909 and 43,055 sq ft) of office space for public servants in or near Galway city centre within a time frame of 12 months have been invited to put forward their proposals to the Office of Public Works.
The office block is needed to house about 250 staff from the Revenue Commissioners and the OPW. Minister of State Tom Parlon says the OPW will consider exchanging or part exchanging Galway Custom House and/or number 16 Eyre Square as part of the deal. The new block will have to have ground floor offices and the use of a car park.
Former bank property surveyor sets up new firm
Aidan Ringrose, the former group property surveyor at the Bank of Ireland, has set up a new company providing advice on commercial property. During his nine years with the bank, he was involved in the acquisition, disposal, redevelopment and management of the group's real estate holdings in the Republic, Northern Ireland and the UK. Before joining the bank he was an associate director with agent Mason Owen & Lyons.
