A round-up of today's other stories in brief
Gift location for Irish souvenir shop
Carrolls Irish Gifts souvenir business is to open a new outlet at the former Warehouse ladies' fashion outlet at 37 Grafton Street, Dublin 2.
Although the shop has been vacant for over three years largely because traders required more than the 102 sq m (1,100 sq ft) floor area available, there were four contenders for it in the end. Sharon Walsh of agents HWBC said they offered the lease to the "best covenant". Carrolls will be paying a rent of €245,000 for the building - well short of the €368,000 paid by Warehouse before it handed back its lease to owners Aviva Life & Pensions in March 2009. Before surrendering the lease, it attempted to sell it for a premium of €400,000 but there were no takers.
Aviva later secured planning permission to redevelop the ground and first floors to increase the overall retail space to 195 sq m (2,100 sq ft) but obviously decided against proceeding with the expenditure at a time when rents were falling. Ben Pearson of Bogle Estates advised Carrolls who also operate a large store in the former AA office on Suffolk Street. They now have nine stores.
Historic Slane hotel sells at old price
In another illustration of the fall-off in the value of many provincial hotels, the historic Conyngham Arms Hotel in Slane, Co Meath, has been sold to a local business family for a figure believed to be between €250,000 and €300,000.
In 2003, the same 15-bedroom hotel was sold by CBRE for €3 million. The latest owners are Brian and Patricia Conroy who run a highly successful country house hotel at nearby Tankardstown House.
Extra revenue for Treasury Holdings
Treasury Holdings has reported increased revenues of €3.8 million on its property portfolio since the beginning of the year.
The company says that in the last two months alone they completed 51 deals involving over 4,645 sq m (50,000 sq ft) of space and an additional rent roll of €1.4 million. Of the €3.8 million in new revenues, 35 per cent of it is coming from retail lettings, 34 per cent is in respect of residential rentals and the balance from the office portfolio.
Eight new retail leases include a letting of a 1,858 sq m unit at 22 Temple Bar to Pablo Picante; new tenants at Stillorgan shopping centre include Starbucks, Dealz, Dove Dry Cleaning and An Post.
In the city centre, Little Ass Burrito Bar has rented a Treasury premises on Dawson Street. In the office sector, LeasePlan has rented an additional 553 sq m in Block C.
School's term on South William Street
Hotelier and landlord Charlie Sinnott has found a tenant for the former DBS building at 34/35 South William Street in Dublin 2. The ATC Language & Travel School has leased the 789 sq m (8,492 sq ft) facility to facilitate the continued growth of the business. A 10-year lease with break options has been agreed for the school which will have 16 classrooms, library, canteen and computer room.
Emma Murphy of HWBC advised Sinnott, and the tenant was represented by Graham Farley of Farley Property.
Murphy has also let a 425 sq m (4,574 sq ft) Georgian house at 29 Merrion Square to Tuath Housing, a non-profit organisation that helps people find a good home they can afford.
The new tenant has taken a 10-year lease with a break option in year five.
A mews house at the rear, fronting on to Holles Place, was earlier let to Notion Design Ltd on a five-year lease.
Open a Frankfurt office - in Dundrum
Agents Knight Frank Ireland and Coldwell & Banker Commercial are quoting a rent of €129 per sq m (€12 per sq ft) for office space in Frankfurt House, close to Dundrum Town Centre.
The three-storey building extends to 738 sq m (7,950 sq ft) and is in excellent decorative order, according to the agents.
