14 Apartments, Artane, Dublin 5 QRE has sold 14 apartments in Brookwood Abbey, Artane, Dublin for €3.35m. The portfolio consists of 11 two-bed, one three-bed and two one-bed apartments. Nine of the apartments are let generating €178k pa. When fully let, ORE note the apartments will generate €275k pa (8.2% GIY). The Irish Times, 7th November
1.26 acres Sandymount, Dublin 4 Knight Frank are guiding €9.5m (€7.5m per acre) for the 1.26 acre site which includes a detached house off Gilford Road, Sandymount. The site has planning permission for 25 residential units (€380k per site) including nine three-bed houses and apartments comprising seven two-beds, one three bed and eight four-bed duplex. The house on the site is in need of extensive refurbishment. The Irish Times, 7th November
92.5 acres at Newlands Cross, Dublin has been sold by the IRFU to Hibernia Reit for €27m (€291.8k per acre). The land is currently zoned agriculture but if rezoned in the next ten years, the IRFU will be entitled to an additional payment of 44% of the uplifted value, less the purchase price and other costs. Hibernia Reit confirmed they have closed another 5.8 acres in the same location for €1.7m (€293k per acre) bringing their total holding in the area to 143.7 acres. The Irish Independent, 12th November
Former Annesley Motors Site, Ballybough Road, Dublin Cushman and Wakefield are guiding €5.5m for the 0.68 acre site (€8m per acre) which has planning permission for 10,656 sq.ft ground floor retail with medical suites above. McCullough Mulvin Architects have completed a feasibility study showing the site has potential for 285 student bed space. The Irish Times, 6th November
George’s Street, Dublin 2 Dunnes Stores have purchased their supermarket on George’s Street for €21m having rented the property for the last 50 years. The supermarket and adjoining George’s Street Arcade were purchased by the Layden Group in 1992 for €2m. Dunnes have purchased the 12,000 sq.ft supermarket and 30,000 sq.ft over head space. The Irish Times, 7th November
Gowan Motors Site, Glenageary, Co. Dublin Knight Frank are guiding €1.95m for the Gowan Motors car showroom at the Glenageary roundabout. The property consists of a 9,500 sq.ft two storey building on 0.6 acre site. Knight Frank note the “neighbourhood centre” zoning allows for a range of uses including residential, health, public house and restaurant. The Irish Times, 6th November
2 Cumberland Place, Dublin 2 Flynn, the Irish-owned contractor and fit-out specialist, is working on the 75,000 sq.ft, six storey over double basement property for Hibernia Reit. The project will cost c€24m. The property is adjacent to Twitter’s HQ in Dublin. The Sunday Business Post, 11th November
Dublin Landings, Docklands The Irish Independent reports that the Central Bank has agreed to purchase two buildings under construction at the Dublin Landings site. It will also sell a property at the nearby Spencer Dock on foot of this deal. The Irish Independent, 10th November
City Gate Park, Mahon, Co Cork CBRE has completed the sale and lease back of the 87,000 sq.ft Quest Building located at Block C, City Gate Park, Mahon for in excess of €21m to an undisclosed purchaser (7% NIY). Quest Software has leased back the property. Separately Voxpro is taking an assignment of a lease from VCE for 40,000 sq.ft in the City Gate Park at €18 psf. The Irish Examiner, 8th November
Adelaide Chambers, Peter Street, Dublin 8 a 17,670 sq.ft four storey over basement office with 31 basement car parking spaces, has been bought by Chartered Land for €7.23m (€409.16 psf). Annual rent of €252,000 reflects a 3.22% NIY. The Irish Times, 7th November
Northbrook Road, Dublin 6 Knight Frank are guiding €5m for a 9,099 sq.ft redbrick building with 10 car parking spaces. The property is being sold with the benefit of vacant possession but there is a short term licence agreement in place for the ground floor. The Irish Times, 7th November
Plaza 256, Blanchardstown Corporate Park, Dublin 15 Veolia are leasing 11,000 sq.ft of office space for their new HQ. The letting, through Lisney, is thought to be €23 psf. The Irish Times, 7th November
Webworks, Cork a 43,000 sq.ft property let to Ervia at €800,000 pa, located beside Cork City Hall and the Elysian is reportedly sale agreed at €16m (4.6% NIY). Lisney brought the property to market in June 2018. The Irish Examiner, 8th November
Sheen Falls Lodge Hotel, Co.Kerry has been bought by Thai investors for a figure believed to be between €16 and €17m. The five star hotel was bought by UK-based luxury hotel group, Palladian Hotels for €5m in 2013. The Irish Independent, 8th November
Kildare House Hotel, Co Kildare a 21 bed hotel with two bars, a restaurant and ballroom that can seat 200 guests, located close to Kildare Shopping Village, has been brought to market through Dowling Property guiding €1.1m. Hotel occupancy has been 82%. The Irish Times, 7th November
Clancy’s Bar, Cork City a 12,000 sq.ft former public house, with planning permission for a 27 bedroom niche aparthotel will be brought to auction with Behan Irwin Gosling guiding €2.25m on 29th November. The Irish Examiner, 8th November
The Former Foxhunter Pub, Lucan has been brought to market through Savills. Although there is no formal guide price, it is thought that it could achieve €3m. The 3.1 acre site with 127 meters of road frontage on the N4, has planning that allows for retail and motor sale outlets less than 1,076 sq.ft. The Irish Times, 7th November
Supermacs Motorway Plazas Supermac’s owner Pat McDonagh intends to open five more motorway plazas over the coming years. In addition to the planning permission granted for one at junction 17 in Portlaoise last week, there are two other plazas in the planning process in Co Longford and Co Clare and he intends to apply for planning for three more, two in the midlands and one in Cork. The Sunday Business Post, 11th November
Hibernia Reit Figures The value of their real estate investments rose by almost 4% to €1.33bn in the six months to 30th September 2018, with Rental income rising from €21.9m to €26.6m, a 21.5% increase. These figures indicate that Hibernia Reit generated total returns of 5.9%, ahead of the market which grew by 4.4%. They declared an interim dividend of 1.5 cent a share for the period, an increase of 36.4% on the 1.1 cent paid last year. The results are announced as Hubspot, who already occupy 73,000 sq.ft in Hibernia’s 1 & 2 Docklands Central properties, confirmed they will take an additional 112,000 sq.ft in Sir John Rogerson’s Quay. The Irish Times, 13th November
Central Bank Reporton Vulture Funds due before Cabinet today notes there is “no evidence” that firms acting on behalf of the funds are not engaging with borrowers and that there is “no material difference” in the level of home repossessions between the funds and banks. The Minister for Finance, Paschal Donohue had requested that the Central Bank review its code of conduct for how institutions deal with borrowers in mortgage arrears. The report due before cabinet today, notes no changes to the code are required. It further noted instances where firms acting on behalf of the vulture funds went beyond minimum requirements to help borrowers, extending deadlines, fast tracking appeals. The report further notes that the vulture funds are considering more arrangements than banks but that they have a narrower suite of arrangements than banks. The Irish Times, 13th November
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