InShort

A round-up of today's other stories in brief

€3.75 million for Georgian on Molesworth Street

An attractive investment opportunity will arise in Dublin city centre from today when CB Richard Ellis offers for sale a four-storey mid-terrace Georgian office building at 20 Molesworth Street, Dublin 2. The agency is guiding €3.75 million for the house which is being sold by the ISPCC following its decision to relocate to a nearby building. The basement and ground floor return of 96sq m (1,033sq ft) are occupied by the Gorry Gallery on a 35-year lease from 1991 at a rent of €20,000. There is a rent review due next November. The entire building has a floor area of 427sq m (4,606sq ft) and is directly opposite Buswells Hotel and across the road from the Dáil. Adjoining buildings are occupied by the Norwegian and Spanish embassies and the Grand Lodge of Freemasons of Ireland.

Over €1.25m for office in D2

An own-door office building in one of the most sought-after locations - Clanwilliam Terrace in Dublin 2 - has just come on the market through Davin Auctioneers and Chartered Surveyors.

The agency is inviting offers over €1.25 million for number 8 which has a gross internal floor area of 101sq m (1,087sq ft) and two on-site car-parking spaces. The mid-terrace building is in pristine condition and arranged in open-plan and cellular offices. While the building is likely to be of interest to many owner-occupiers, it will also be of interest to investors who could expect to rent it for €50,000 to €55,000 per annum.

Tax-break investments in Dublin and Waterford

Two investment opportunities with tax breaks have come on the market through Dublin estate agent McCormick. The agent is likely to get at least €5.75 million for an industrial building at the Western Industrial Estate in Waterford, which is let to the IDA on a 35-year lease from 1982, at a current rent of €314,260 per annum. The purchaser will be able to avail of €1 million in capital allowances.

The second sale comprises two two-bedroom apartments at Citywest golf complex in Saggart, Co Dublin, which are let for 21 years from 2003 at a rent of €21,256 per annum. The rent is reviewed every seven years. The capital allowances in this case are €700,000. The selling price is likely to be at least €850,000.

Over €2m for restaurant

DTZ Sherry FitzGerald is guiding over €2 million for the former Coe fish restaurant at 17a Monkstown Crescent at Monkstown Road, Co Dublin, which is for sale at auction on May 25th. It is located in a prosperous south Dublin suburb convenient to both Dún Laoghaire and Blackrock. The premises seats 88 diners and was newly fitted out three years ago. It has a floor area of 239sq m (2,573sq ft), including a top class kitchen, bar, private dining area and mezzanine. A yard to the front with a floor area of 54sq m (581sq ft) has development potential over two levels.

Over €2.2m for Glasthule store

Investors, developers and owner-occupiers are all expected to be in competition for the Londis building at 63-64 Glasthule Road in Glasthule, Co Dublin when it is auctioned by Lisney on May 17th. The agency expects to secure over €2.2 million for the convenience store which, along with ancillary storage, extends to 180sq m (1,938sq ft). The first floor has a further 67sq m (721sq ft). The zoning permits it to be used for retail purposes or for a restaurant, bar, health centre or offices.

Over €900,000 for former ESB premises in Dungarvan

CB Richard Ellis is seeking offers over €900,000 for the former ESB premises at Parnell Street in Dungarvan, Co Waterford. The two-storey building is held on a 199-year lease from 1889. Also going on the market is the lease of another ESB office in Tullamore. It is likely to fetch around €50,000.

Tallaght industrial makes €3.6m

Hamilton Osborne King has secured what it says is a record price of €3.6 million for an industrial building of 2,105sq m (22,658sq ft) on a one-acre site at 75 Cookstown Industrial Estate in Tallaght, Dublin 24. The site is likely to be redeveloped in the future in line with its new town centre zoning. A number of other sites in the area have also been acquired by developers.

€2.25m for NCR office building

Davin Auctioneers is quoting a guide price of €2.25 million for Distillery House, an own-door office building of 700sq m (7,535sq ft) at North Circular Road, Dublin 1, which is to be sold by private treaty. The former mill has been refurbished to provide bright open-plan offices. It is located between Croke Park and Mountjoy Square and is part of a cluster of office and warehouse buildings in a courtyard setting.

High-spec units at Citywest

Five units have already been reserved in a development of high-spec business buildings within the Citywest Business Campus in west Dublin where nine other units are now available to purchase or lease. Orchard Business Centre offers flexible sizes, according to Jones Lang LaSalle, which is quoting between €615,000 and €740,000 for units of 294-369sq m (3,165-3,972sq ft), respectively. Office units are to rent at €215 per sq m (€19.97 per sq ft) and €575 per car-parking space.