A round-up of today's other stories in brief
Avoca to open in Malahide
Avoca Handweavers is to begin trading this summer at a new visitor centre in the grounds of Malahide Castle in north county Dublin.
Commercial agents Bannon, who advised Fingal County Council on its anchor tenant, would not comment on the financial terms agreed. However, it is understood that Avoca will be paying in excess of €215 per sq m (€20 per sq ft) for the new restaurant and retail building, which will extend to 1,750 sq m.
Fingal Council, owners of the castle, along with Fáilte Ireland are investing about €10 million on upgrading the tourist facilities. The visitor centre is located in the old courtyard buildings adjacent to an interpretive centre which will showcase the Talbot Botanical Gardens.
Sailing into Harbourmaster
Morrissey’s is seeking €1.8 million from investors for the freehold interest in The Harbourmaster bar at Custom House Dock in Dublin’s IFSC.
The landmark building is leased to Sean Doyle Entertainments for a period of 19 years from May, 2010.
The current rent of €280,000 is subject to five year reviews, but cannot fall below that level.
Investors can expect a return of 15.55 per cent before purchase costs are taken into account.
DTZ Sherry Fitz appointment
Ronan Corbett, who specialises in business space for DTZ Sherry FitzGerald, has been appointed a director of the company.
He joined the company as an associate director in 2006 after spending five years with Cushman Wakefield in London. He was promoted head of business space in 2008 and since then has helped to strengthen that division.
His clients have included Facebook, LinkedIn and Yahoo. He is also advising a number of other major companies in Ireland and overseas.
Best foot forward in Grafton St
Dublin's Grafton Street is in line to pick up another high profile trader, with shoe retailer Irregular Choice currently looking for a suitable premises on the high street.
The somewhat quirky shoe label has attracted considerable international acclaim since it was launched in Brighton in 1999. The company distributes its products to more than 50 countries and after opening its own stores in New York and London is to follow up with further outlets this year in Hong Kong and Paris. The Dublin store will be operated by the parent company.
Jason Millar of Colliers International has been engaged to find a suitable premises on Grafton Street with a retail area of 139 sq m (1,500 sq ft) plus back-up accommodation.
The search for an appropriate shop comes after the announcement that American fashion chain Banana Republic is to open later this year in a new enlarged store following the amalgamation of the adjoining Richard Allen and Zerep shops near the top of Grafton Street.
Cut in price at Bachelors Walk
A Georgian retail and office building close to the Hapenny Bridge in Dublin city centre is to be offered for sale this week at a fraction of its value during the property boom.
Keith ONeill of BNP Paribas Real Estate is seeking €450,000 for the five-storey building at 14 Bachelors Walk, which is producing a rental income of €40,000 per annum.
The four upper floors of offices extend to 137sq m (1,474sq ft) and are occupied by Sonas Housing Association. The ground floor is rented by the Hapenny Bridge Café.
Bachelors Walk is one of the busiest areas along the city quays and is used as a short cut to Liffey Street and Henry Street.
The building for sale has the advantage of four car parking spaces in the adjoining underground car park. Similar spaces sold for about €60,000 each during the boom.
