Midleton, Co Cork Lisney is guiding a price of €5.5 million for a major mixed-use investment with significant asset management potential in Midleton, Co Cork. The investment comprises a modern mixed-use scheme laid out in four buildings which include 36 apartments, a restaurant, offices and retail accommodation together with extensive car parking and residual lands extending to 15.6 acres (currently zoned open space). The apartments are fully let except for a number of show apartments and are producing a current rental income of c.€324k per annum. The restaurant unit is let to McDonald’s at a passing rent of c.€80k per annum bringing the total current rental income to €405k per annum. There is potential, according to the selling agent, to increase this rental income to c.€490k per annum once the vacant apartments are let and RPZ increases are applied. The Irish Times, 30th September
If you are interested in purchasing this asset and require financing, please contact Origin Capital as we can arrange senior debt facilities of up to €4m for the purchase of the Asset.
Stillorgan, Co Dublin CBRE is guiding €9.7 million for 25 apartments at the Atrium in Beechwood Court, Stillorgan. The portfolio comprises 24 two-bedroom units and one three-bedroom unit, along with 25 car parking spaces at basement level. Eight of the apartments have been held vacant while the remaining 17 units are being sold with the existing tenants in place. The projected stabilised net rental income is c.€556k per annum, assuming 100% occupancy. The scheme occupies a prime location along the N11 c.1km from Stillorgan village and 8km from St Stephen’s Green. The Irish Times, 30th September
If you are interested in purchasing this asset and require financing, please contact Origin Capital as we can arrange senior debt facilities of up to €7m for the purchase of the Asset.
Rathgar, Dublin 6 Hooke and MacDonald have brought the final four new family houses in Orwell Park Gardens to market. Building work is being completed on the final phase of four houses which were designed by Niall Brennan & Associates Architects. The A rated three / four bed homes range in size from 1,916 sq.ft to 1,948 sq.ft. and are priced from €1.2 million to €1.35 million. The Sunday Business Post, 4th October
North County Dublin Joint agents CBRE and JP & M Doyle have brought one of the largest industrial-zoned land holdings in recent years to the market in one lot. The 116-acre industrial-zoned site in North County Dublin, branded as Fingal Logistics Park, is currently zoned GE: General Employment under the Fingal Development Plan 2017 to 2023. It is adjacent to N2 Interchange, Ashbourne Business Park and a short drive from the M50 and Dublin Airport. The Irish Independent, 1st October
Tallaght, Co Dublin Mardivale Limited has applied for planning permission to develop a hotel on the site of the former Embankment pub in Tallaght, Co Dublin. The development would include both a 129-room hotel and three aparthotel buildings. The developer is seeking permission to demolish the pub and existing incomplete buildings on the east side of the site to facilitate the development of a hotel. The proposed three-storey aparthotel buildings would comprise of 15 units each, reaching a total of 45 apartments. They would include studios, one-bed, two-bed and three-bed units. The Irish Independent, 4th October
16 Fitzwilliam Street Upper, Dublin 2 Finnegan Menton is guiding €2.25 million (5.25% NIY) for 16 Fitzwilliam Street Upper. The 3,541 sq.ft. mid terrace four-storey over basement period office building is fully let to TAI Consultants trading as Tax Accounting Ireland on a 10-year FRI lease with just under eight years unexpired. The property is located between the junction of Fitzwilliam Square and Lower Baggot Street. The Sunday Business Post, 4th October
If you are interested in purchasing this asset and require financing, please contact Origin Capital as we can arrange senior debt facilities of up to €1.4m for the purchase of the Asset.
Harcourt St, Dublin 2 Savills is guiding €21 million for 76-78 Harcourt St, Dublin 2. The buildings are let in their entirety to the Office Public Works (OPW). The property was first let to the OPW in January 1982 on a 35-year lease. The current rent is just €37.70 psf and the next rent review is due in January 2022. The investment comprises an office block of 24,490 sq.ft. distributed over lower ground and ground floors plus four upper floors and sits on a site of 0.3 acres with a portion of this underutilised providing redevelopment opportunities for the prospective purchaser. There are also 24 under-croft car parking spaces. The Irish Times, 30th September
City Quay, Dublin Docklands Office accommodation extending to 4,600 sq.ft. is available to let from the first quarter of 2021 at 50 City Quay in Dublin’s south docklands. 50 City Quay is in the process of undergoing a full refurbishment. Bannon is offering the property in its entirety or on a floor-by-floor basis catering for requirements ranging from 970 sq.ft. to 4,600 sq.ft. 50 City Quay occupies a prime waterfront location within the Windmill Quarter in Dublin’s south docklands. The overall scheme spans 3.4 acres. The Irish Times, 30th September
12 Fitzwilliam Square, Dublin 2 The Saudi Arabian Embassy has committed to a new 10-year lease at a rent in the region of €39.50 psf per annum together with six on-site car parking spaces at a rent of €3,500 per space per annum at 12 Fitzwilliam Square in Dublin 2. 12 Fitzwilliam Square is a high-profile four-storey over-basement Georgian office building extending to 4,477 sq.ft. It has been fully refurbished throughout and comprises a mix of open-plan spaces and meeting rooms/executive offices. The property also includes a two-storey mews extending to 990 sq.ft. and six secure car-parking spaces located to the rear of the main building on Lad Lane. The Irish Times, 30th September
Hanover Court, Dublin 2 Cushman & Wakefield is guiding a rent of €52.50 psf for 8,750 sq.ft. of third floor office accommodation available at Hanover Court, on Lower Erne Street, Dublin 2. The space is available by way of flexible subletting from the building’s main occupier, Verizon, until 2028. There are also eight car parking spaces available at €3,500 per car parking space. The Irish Times, 30th September
Q3 Investment Activity A CBRE report has outlined that there was more than €680 million spent on 14 Irish deals during the three months to the end of September bringing total spend this year to almost €2.4 billion. The report highlights that as much as 69% of spend in the most recent quarter was institutional investment in buy-to-rent units compared to just 29% on office buildings. The figures represent a 59% increase on Q2 volumes. The Irish Independent, 2nd October
BidX1 Online Auction BidX1 has brought 15 commercial property assets with an overall value of €17 million to the market in advance of offering them for sale by way of online auction on Thursday, October 22nd. The most expensive property, guiding €2.1 million is a four-storey building at numbers 44-45 South William Street, the basement and ground floor of which are currently let to Moroccan restaurant Dada. Two additional commercial tenancies on the upper floors, both informal agreements, bring the total rent roll for the premises to €137,524 per annum. The Irish Times, 30th September
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