A round-up of the week's other commercial property news, in short
New Naas shopping centre
EU Commissioner Charlie McCreevy was in Naas last weekend to launch a marketing suite for the new shopping centre in the heart of the town. Developers Liam O'Farrell and Owen McDermott are building a 16,000sq m (172,222sq ft) centre which will be anchored by Dunnes Stores. The facility, due to open towards the end of next year, will have 800 car-parking spaces
2m for Galway shop
A shop occupied by UK shoe multiple Barratts at Eyre Square Shopping Centre in Galway has come on the market on a sale and leaseback basis.
Michele McGarry of Colliers Jackson-Stops is guiding €2 million for the 190sq m (2,045sq ft) unit which is rented at €136,000 per annum. At that price the investment would show a net yield of 6.2 per cent.
The shop is at street level and is the only one in Ireland owned by Barratts, a wholly owned subsidiary of Stylo plc. The company plans to take a new 20-year lease with a break option in year 15.
Milano opens in Killarney
Milano has opened its tenth restaurant at Main Street in Killarney and plans to have a further outlet ready for trading in February at Harbour Square in Dún Laoghaire.
Milano is part of the Gondola Group which has 500 restaurants in Ireland and the UK. Its first business here opened in Dawson Street in 1995.
The Dún Laoghaire premises will cater for 160 and employ a staff of 30.
Agent CB Richard Ellis said it is looking for new trading opportunities for Milano in other parts of the country including Kilkenny, Ennis, Sligo and in four Dublin locations (South William Street, Malahide, Swords and Ranelagh).
Book Station for Tallaght
Book Station is to open a book store in Kilnamanagh shopping centre in Tallaght where two further shops are available to lease through Jones Lang LaSalle.
The book store is occupying a 95sq m (1,023sq ft) unit and has taken a 25-year lease at an annual rent of €60,000. The two remaining units of 70sq m (753sq ft) are available at a rent of €42,000 each.
The same agent has also leased a unit of 145sq m (1,561sq ft) at Ennis Town Centre to BB's Coffee and Muffins at a rent of €94,000. The centre was developed by Dunnes Stores.
