The intense rush to open retail parks in all cities and many towns has left developers with a shortage of new traders to create an interesting mix. For that reason most of them will welcome the decision by giant UK furniture multiple DFS to expand its operation into Ireland.
The company has 71 stores in the UK which specialise in competitively priced sofas in a huge variety of designs and fabrics.
DFS is understood to be looking for stores of 1,858sq m (20,000 sq ft) in Blanchardstown, Airside, Liffey Valley and The Park in Carrickmines. It is also likely to open outlets in Cork, Limerick and Galway.
€4m for four-storey building on South William Street
Further evidence of the strong prices being sought for commercial property investments in Dublin city centre comes this week with news that CBRE Gunne is seeking €4 million for a mid-terrace building at 16 South William Street.
The four-storey building is let on two short-term leases which run out in the summer of 2006. The Language Centre of Ireland is paying €96,000 for 248sq m (2,676sq ft) of space. The small ground floor area of 26sq m (280sq ft) is let to men's outfitter The Suitable Company at €24,000 per annum.
Arlington Hotel on the quays due for upgrade after €37m deal
Ireland's most prolific publican, Louis Fitzgerald, is expected to upgrade the Arlington Hotel at Bachelor's Walk in Dublin 1, now that he has completed a deal in which he paid €37 million for the 116-bedroom hotel and bar. The business, thought to have had a turnover last year of more than €11 million, was acquired from Tom Quinn and Cyril Mulligan, who had developed it over about a decade. It has one of the largest and most successful bars in Dublin attracting a high volume of tourists and weekend trippers.
Mr Fitzgerald brought the number of outlets in his bar chain to about 25 earlier this year when he paid €5.8 million for the Stag's Head, off Dame Street. Dermot Curtin of CBRE Gunne handled the sale of The Arlington Hotel.
Vet college tender closing date delayed till November 30th
The OPW has delayed the closing date for tenders until November 30th on the sale of the former Veterinary College site in Ballsbridge, Dublin 4.
Lambert Smith Hampton said the level of demand for information about the 2.02 acres has "exceeded all expectations".
The decision to delay the sale was also dictated by the decision of Jurys Doyle to proceed immediately with the disposal of the adjoining site of the Berkeley Court Hotel. The hotel group has invited those who tendered for the site of the two other adjoining hotels to bid for the Berkeley Court.
The veterinary site, which is expected to make over €100 million, is just as likely to be bought by investors as conventional developers.
€1.1m for office investment at Grand Canal Quay in D2
North's estate agency is quoting a guide price of €1.1 million for an own-door office investment at 18 Clanwilliam Terrace on Grand Canal Quay in Dublin 2. The three-storey, 136sq m (1,470 sq ft) building is rented at €49,000 per annum.
€250,000 premium for lease of Exchequer Street restaurant
Owens Commercial is seeking a premium of €250,000 for the lease of the Vino Veritas restaurant on Dublin's Exchequer Street. The 60sq m (646sq ft) premises has been completely refurbished and is rented at €39,450 per annum. There is a separate kitchen and toilets.
The same agent has secured €200,000 for the O'Brien Sandwich Bar franchise at the junction of Dawson Street and St Stephen's Green. The 46.4sq m (500sq ft) premises is rented at €50,000 per annum.
Owens has also secured key money of €185,000 for the lease of The Brown Bag at Smithfield (rent: €30,000) and €80,000 for a similar lease in Pembroke Street where the rent is €22,000.
€100,000 rent for building on Sligo's O'Connell Street
Lisney is seeking a rent of €100,000 for a three-storey retail building at O'Connell Street in Sligo town. It has a ground floor retail area of 77.8sq m (837sq ft) and is available on a long term lease, according to Emmet Page.
Lisney forms association with Navan's Smith Harrington
The Lisney estate agency has taken the unusual step of forming an association with the Navan-based agency of Smith Harrington. It is the oldest estate agency in Navan and was previously known as Patrick Smith & Son.
The two companies have set themselves the challenge of becoming the number one agency in the north-east where the turnover in the property market has shot up in recent years.
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