M&S starts fitout at new Athlone centreUK giant Marks & Spencer is to begin fitting out its anchor store next week in Athlone Town Centre, a new regional shopping complex which is to open for business on October 18th.
The trader will be paying a rent of around €500,000 for its store of 1,579sq m (17,000sq ft). A large number of the 70 other stores will retail fashion, including River Island who will have a unit of 800sq m (8,611sq ft). Other big names already signed up are Esprit with 210sq m (2,260sq ft) of space; Tommy Hilfiger with 310sq m (3,337sq ft); Monsoon with 420sq m (4,521sq ft) and Best Menswear with 400sq m (4,306sq ft) on two levels.
About 85 per cent of the retail space is already committed, according to Marcus Wren of Bannon Commercial. Some of the remaining units are being targeted at a hairdressing salon, children's toys, shoe retailers and further fashion operators. Rents are averaging around €2,000 per sq m (€185.8 per sq ft).
Over €1.8m for Glasthule retail and residential investment
Lisney is seeking over €1.8 million for a retail and residential investment close to the seafront at 71/73 Glasthule Road in Glasthule, Co Dublin.
Two of the three ground floor shops are let under long leases to a dry cleaners and a ladies' fashion business while the third unit is vacant. There are two vacant one-bedroom residential units on the first floor with separate access from Glasthule Road.
The overall floor area extends to 186sq m (2,002sq ft) and is producing rents of €35,400. The rent on the fashion store is due to be reviewed this month and, with a substantial yard to the rear, there is scope to enlarge the premises subject to planning permission and occupational tenancies. Lisney is inviting best offers by June 29th.
Over €2.9m for Georgian offices
Investors and owner-occupiers looking for a good Georgian office building are likely to focus on 43 Lower Leeson Street, Dublin 2, which is for sale by private treaty through Finnegan Menton. Offers over €2.9 million are sought for the vacant four-storey over basement house which has a floor area of 330sq m (3,555sq ft). It has been fully cabled and is in good structural condition though it would clearly benefit from redecoration. The house is well located between Leeson Street Bridge and Hatch Street.
Meanwhile, Finnegan Menton is reporting strong interest in another Georgian office building at 30 Leeson Street Lower which has been fully refurbished and is expected to make over €4 million.
Tenant sought for Little Caesar's
Agent HWBC is seeking a replacement tenant for Little Caesar's restaurant at 18 South Main Street, on the north side of College Green in Dublin 2. The ground floor restaurant seats 250 and there is also a basement function room that has been extensively refurbished by the present owner. The building is held on a 24-year lease from 2004 at a rent of €250,000 per annum.
Tullamore centre to grow
There are plans to enlarge Tullamore shopping centre to give Dunnes Stores more space and provide additional shop units to broaden the appeal of the complex. The extended Dunnes Stores will be integrated into the new civic square while a new range of shops will be aimed at national and international traders. Savills HOK is advising the owners, including the Moritz Group and local businessman Seamus Carroll.
PwC to assign lease for floor at Tara Street office block
Accountants PricewaterhouseCoopers is planning to assign its lease of the second floor of Ashford House at Tara Street, Dublin 2. Agent HT Meagher O'Reilly is handling the assignment of the 1,285sq m (13,832sq ft) of high quality space which is held on a 21-year lease from 1995 at a rent of €611,000 per annum.
A sub-lease may also be considered. The rent equates to €437.45 per sq m (€40.6 per sq ft) - a long way short of the going rate of €600 per sq m (€55.65 per sq ft) - and €3,500 for each of the 14 car-parking spaces. The next rent review is due in 2010.
Tallaght Ford Centre makes €1.7m
A car dealer has paid €1.7 million for the former Tallaght Ford Centre fronting onto the N81 bypass in Tallaght, Co Dublin. David Fahy of CB Richard Ellis handled the sale of the 218sq m (2,347sq ft) premises which is held on a 999-year lease. The new owners also paid a premium of €50,000 for the lease of an adjoining building of 93sq m (1,001sq ft) which is rented at €20,000 per annum.
€50,000 rent for Rathgar shop
DNG Commercial is seeking a rent of around €50,000 per annum for a shop being refurbished at 14 Orwell Road in Rathgar, Dublin 6, which was recently bought by an investor for €1.605 million. The premises has 65sq m (700sq ft) on the ground floor and 46.4sq m (500sq ft) on the upper floor. The building is opposite a site due to be redeveloped for a Superquinn supermarket.
New chairman of association
David O'Brien, managing director of Acuman Facilities Management, has been elected chairman of the Irish Property & Facilities Management Association (IPFMA). O'Brien, pictured right, is to serve a one-year term of office.
