Tesco building on College Green sells for €4.65m

Also: Dún Laoghaire social club sells up, offices at Ivy Exchange for sale

 

Dublin’s thriving retail investment market has received another shot in the arm with the sale of the Tesco Express-led building at 18/19 College Green for €4.65 million – more than €500,000 above the guide price.

Tesco pays a rent of €62,000 for 386sq m (4,156sq ft) for ground and basement level. IT Solutions occupies 551sq m (5,941sq ft) on the five upper floors at an annual rent of €160,000. Both tenant and landlord have break options in 2022.

The high level of interest and strong bidding for the eight-storey building were triggered by the ongoing redevelopment of the former Central Bank building on the opposite side of College Green.

Aidan Scully of Investi, the investment acquisitions specialist, acted for the purchaser, the MacGroup, while Patricia Ward of TWM advised the vendor.

19th-century social club sells for €1.45m
One of Dún Laoghaire’s longest running social clubs at 43 Upper George’s Street has been sold for the asking price of €1.45 million. The club extends to 7,000sq ft over five floors.

The imposing redbrick building owned by the Dún Laoghaire Christian Institute has been home to a social club since 1888, catering initially to the Protestant community. it opened its doors to Catholics and women in the 1970s.

The building was sold by Cushman & Wakefield and Sherry FitzGerald.

Office suite at Ivy Exchange for €450,000
Agent Finnegan Menton is guiding €450,000 for an office suite, unit 174 Ivy Exchange, close to O’Connell and Henry streets at Granby Place, Dublin 1, which is for sale by private treaty.

The own-door corner office has 110.1sq m (1,180sq ft) of space on two floors at 174 IvyExchange and forms part of the office block developed by the Cosgrave Group in 2006.

The offices are fitted with raised access floors, air conditioning and Cat5e network cabling. The suite has exceptional natural light on both levels because of the large floor to ceiling windows wrapped around the building.

Record price for Liexlip infill
Coonan Property has achieved a record price – €1.2 million per acre – for an infill housing site at Leixlip, Co Kildare. Bidding at the packed auction room opened at €1.4 million, when the 3.4-acre zoned site was offered for sale.

Individual bids by the six interested parties ranged from €50,000 to €100,000 until the property was declared on the market at €3.8 million. Further bidding pushed the final price up to €4.075 million.

According to auctioneer Will Coonan, the selling price was the highest obtained at any north Kildare town: Maynooth, Celbridge and Leixlip.

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