A round-up of commercial property stories in brief
Dealz available in Co Wexford
A RETAIL INVESTMENT at Main Street in Gorey, Co Wexford, showing a net return of 9.36 per cent is to be sold on the instructions of receiver Neil Bannon.Roderick Nowlan of the Bannon agency is seeking €1.175 million for the building just let to Poundland Ltd which trades as Dealz discount stores. The company has signed up to a 15- year lease with a 10-year break for the shop which extends to 371sq m (4,000sq ft). The initial rent is €115,000 per annum.
Poundland is expanding its operation in Ireland and has a number of deals in the pipeline. The group had a turnover of £633 million (€783 million) last year and has a high Dun Bradford rating.
Harbour Bar to get restaurant refit
A PLANNING application has been lodged for the redevelopment of the Harbour Bar premises on Marine Road in Dún Laoghaire.
Owner Sean Duignan has sought permission to convert the building into two restaurants with overhead offices. It is also planned to provide external dining areas to the front to capitalise on the upgrading of Marine Road which has improved links between the town centre and the harbour.
Even before the planning application was submitted, Nando’s Peri Peri chicken restaurant has agreed to lease the first of the restaurants with a floor area of 315sq m (3,400sq ft) at a rent of €80,000 per annum. The second restaurant extending to 204sq m (2,200sq ft) is being marketed by Sean O’Neill of letting agent O’Neill Strategic Property advice. The two upper floor offices have been reserved by Officepods.
Belgard premises come to eager market
ALTHOUGH THE Dublin industrial property market is generally oversupplied, agent William Harvey says there is little availability of good quality warehousing with a capacity of 5,000 to 6,000sq m (53,820 to 64,583sq ft).
For that reason alone the agency is expecting considerable interest in the warehouse element of Belgard House in Tallaght which has 5,696sq m (61,312sq ft) of modern accommodation available as well as a small mezzanine with offices and staff facilities. Gas central heating is installed.
The agency says it is open to “competitive rental offers”.
The same agent is also looking for a tenant for a manufacturing premises of 11,362sq m (122,301sq ft) on Belgard Square. The rent is “open to discussion”.
Mexican food outlet to open near Mansion House
THE MEXICAN-STYLE food outlet Little Ass Burrito Bar is opening a new restaurant at 32A Dawson Street in Dublin 2 where Hanley’s Cornish Pasties traded up to recently.
The premises opposite the Mansion House has a floor area of 175sq m (1,883 sq ft) and a further 86sq m (925sq ft) at a second level.
The headline rent is around €30,000 per annum. The building is owned by Treasury Holdings.
Hume St offices snapped up
JOINT AGENTS HT Meagher O’Reilly and Jones Lang LaSalle have secured a tenant for basement offices at 14 Hume Street, Dublin 2, only two weeks after bringing the space on the market. Irish mobile applications development company Furious Tribe has taken a five-year lease of the 114sq m (1,227sq ft) premises at a rent of close to €204 per sq m (€19 per sq ft). David Cassidy of HT Meagher O’Reilly said there were numerous small to medium-sized requirements for well-presented offices in prime locations.
