In Short

A round-up of other commercial property news in brief

€1m profit at Layden

At a time when many property companies have run into trading difficulties, Layden Properties has just reported a pre-tax profit of €1,073,910 for 2008, according to accounts filed at the Companies Office.

Turnover almost doubled to over €10m in 2008, largely because of the acquisition of 30 Bank of Ireland branches for €100m. Seven of the largest branches bought in the sale and leaseback deal were subsequently sold on at a profit.

Layden Properties, run by Joe Layden and his family, originally owned the former Pyle lands in Dundrum which forms part of the Dundrum Town Centre. It also owns part of the South City Markets, including Dunnes Stores and the Epicurean Food Hall in Lower Liffey Street.

Watermarque's privileges

Tenants and employees in the Watermarque office building at Ringsend Road in Dublin 4 are to be able to avail of discounts and special offers at local shops, cafés, bars, restaurants and other retail outlets. A new “Privilege Card”, negotiated with local businesses by letting agents Murphy Mulhall and CBRE, will be available to 465 workers. This will rise to about 950 when the block is fully let. Pfizer and the Lawrence Life Assurance Company occupy 5,202sq m (56,000sq ft). A further 4,710sq m (50,709sq ft) is available at a rent of €317 per sq m (€29.50 per sq ft).