96-97 Talbot Street, Dublin 1 BNP Paribas Real Estate are guiding €1.1m (7.1% NIY) for 96-97 Talbot Street, a 2,002 sq.ft. property let to TUI Travel at €85k pa. The lease has an unexpired term of 9.8 years with upward only rent reviews. The Irish Times, 6th March
33 Shop Street, Galway Bannon are seeking more than €8m (6% NIY) on a sale and leaseback basis by Eason’s for 33 Shop Street who have occupied the building for the last 30 years. Eason will take a 25 year lease at €525k pa with a guarantee from Eason Operations Ltd for 10 years of the lease, limited to two years’ rent. 33 Shop Street is a 11,226 sq.ft. part two and three storey building. Eason’s announced last year that they would sell 13 properties in Ireland including the flagship store on O’Connell Street in Dublin. The Irish Times, 6th March
Danish Home Retail Group Jysk, frequently viewed as a competitor of IKEA, is set to open its first Irish store in April in Naas with stores to open in Drogheda and Navan in May and Portlaoise in August. The lease terms agreed in Naas Retail Park were 10 year term for a 12,000 sq.ft. retail store and 2,000 sq.ft. stock room at €11 psf rising to €15 psf over five years with rent free period along with tenant only break options in year five. The Irish Times, 6th March
4 Cavendish Row, O’Connell Street, Dublin 1 DNG are guiding €1.2m (7.5% GIY) for a mixed use property over five floors with retail in the basement and ground floor and four luxury apartments overhead. The property is located opposite the Gate Theatre at the top of O’Connell Street and generates €90k pa. The Sunday Business Post, 10th March
Sandyford, Dublin 18 Lisney are guiding €7m (7.5% NIY) for the 2nd and 3rd Floor Paramount Court, Sandyford. The property extends to 20,384 sq.ft. and generates €568k pa from tenants Smith and Williamson and PrePay Power. Weighted average unexpired lease term of c. 5 years to break and 12 years to expiry. The Sunday Business Post, 10th March
21 Herbert Place, Dublin 2 Colliers are guiding €1.8m (€654 psf) for a 2,752 sq.ft. Georgian office building overlooking the Grand Canal in Dublin 2. The property includes 2,000 sq.ft. of office space and a self-contained basement extending to 744 sq.ft. which was previously used as a two bed apartment. The property also includes a 370 sq.ft. derelict mews. The Irish Times, 6th March
68 Pembroke Road, Ballsbridge, Dublin 4 Hooke and MacDonald are guiding €1.6m (€671 psf) for a 2,382 sq.ft. three storey over garden level Georgian property. The property includes four car parking spaces to the rear and is being sold with the benefit of vacant possession. The Irish Times, 6th March
Charlemont Square, Dublin 2 The Irish Times reports that Amazon is close to signing up for 200,000 sq.ft. of space at the €85m Charlemont Square development at a rumoured €55 psf. The scheme will also include 263 new homes. The Irish Times, 6th March
Penthouse Floor, Ulysses House, Foley Street QRE are guiding €2.25m (7.6% NIY) for the penthouse floor of Ulysses House on Foley Street. The 6,566 sq.ft. property is let to British Study Centres Ltd on a 10 year lease from 2018 at €185,708 pa. The Irish Independent, 7th March
Salesforce Tower, Dublin Docklands A management company representing the interests of 616 property owners in the area has told Dublin City Council that approving Johnny Ronan’s plans for up to 11 storeys “would make a mockery of the planning scheme process” and that the planning for that area, a Strategic Development Zone (SDZ) sets a maximum height limit at eight storeys. Johnny Ronan has warned that thousands of Salesforce jobs are at risk if planning is not granted. The Sunday Business Post, 10th March & The Irish Independent, 11th March
Heuston South Quarter, Dublin City Centre Marathon Asset Management has appointed Savills and Eastdil Secured, a subsidiary of Wells Fargo Bank, to handle the sale of Heuston South Quarter in Dublin. The portfolio comprises 226 apartments, 106,319 sq.ft. of Grade A office space, 48,034 sq.ft. of commercial spaces and 3.63 acre development site. It is anticipated the sale will achieve in excess of €200m. The Irish Independent, 7th March
Dublin Office Investment Market Analysis 2019 published by BNP Paribas Real Estate Ireland notes the office markets in north and south Dublin suburbs are attracting increased attention from investors and occupiers. Dublin office returns were 9.2% in 2018 up 3% YoY. BNP note that these returns are attracting new investors from Far and Middle East. The Irish Independent, 7th March
32 Residential Units, Clondalkin, Dublin 22 Savills are guiding €6.25m (7.58% NIY) for a fully let scheme of 32 residential units in The Chaplains development in Clondalkin, Dublin 22. The units generate €494,664 per annum. The average passing rent of €1,288 offers significant reversionary potential for investors. The scheme includes nine three-bed apartments, 16 three bed duplexes, five three-bed townhouses and two four-bed townhouses. The Irish Times, 6th March
220 Bed Hotel Sullivan’s Quay, Cork CBRE have been instructed by Bam Property Ltd to bring the sale of a 220 bedroom hotel which is to be developed on the site of the former tax office on Sullivan’s Quay Cork to market. The hotel will form part of the mixed use development including 86,111 sq.ft. of Grade A office space. The proposed 158,014 sq.ft. hotel will include a 12 storey tower with executive lounge on the top floor, restaurant, bar, banqueting area and gym. The hotel will be delivered to a specification pre-agreed between Bam and CBRE. The Irish Independent, 7th March
8.11 Acre Site, Celbridge, Co Kildare Coonan Property are seeking €2.5m (€308k per acre) for an 8.11 acre development site located adjacent to the M4 Business Park. The site is zoned industrial. Expressions of interest must be made in writing to Coonan Property on or before 12pm Wednesday April 3rd. The Irish Independent, 7th March
Harold’s Cross, Dublin 6 Kelly Walsh are guiding €1.85m for 146-156 Harold’s Cross Road, Dublin 6 which comprises retail units with residential above totalling 10,206 sq.ft. The retail units are vacant but three of the residential units are occupied with full vacant possession expected by Summer 2019. The site may suit a build-to-rent scheme. The Irish Times, 6th March
Summerhill Industrial Estate, Meath Harvey has been appointed to sell or let a 32,321 sq.ft. detached industrial warehouse and office facility on 1.9 acres in Summerhill Industrial estate in Meath. The property includes three dock levellers and fully fitted two storey office facilities totalling 7,674 sq.ft. There is live planning to construct three additional units totalling 11,625 sq.ft in the yard. The property is being offered for sale at €1.5m (€46.41 psf) or to let at €160k pa (€4.95 psf). The Irish Independent, 7th March
Construction Activity According to Ulster Bank’s latest purchasing manager’s index (PMI), Irish construction activity reached a seven-month high in February 2019. The index posted a headline reading of 60.5 versus 54.6 in January. Anything above 50 indicates expansion. The Irish Independent, 11th March
Dublin Crane Count reached a record 123 in March, the fifth consecutive month of record new high. 74 cranes were visible on the south side of the city and 49 were visible on the north side of the Liffey. The Irish Times, 6th March
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