Modern, purpose-built Retail Warehouse Park, Barrow Valley Retail Park is available for Let on new leases. It is a high profile location with over 500 metres frontage to the N80 Northern Relief Road. Easily accessible, convenient location 2km from Carlow Town Centre, which has a population of 23,030.
Please view our online brochure: Barrow Valley Retail Park, Carlow
For further information please contact Cian McMorrow on 01 6477900
Two new development sites have come to the market in Limerick, both sites are zoned Industry under the Limerick
County Council Development Plan 2010 – 2016.
Limerick is Ireland’s third largest City with a population of 100,000 people.
Multinational companies in Limerick include Intel, GE Capital, Shannon Aerospace and Lufthansa Technik
Dock Road Roundabout, Dock Road, Limerick City
0.74 ha. (1.84 acres)
Uses permitted in principle include: Petrol station, Car Repair/Sales, Warehouse
Uses open for consideration include: Retail Warehousing, Office, Logistics, Local Shop, Restaurant/Cafe, Garden Centre
0.74 ha. (1.84 acres)
Foynes Port, Foynes, Co. Limerick
35.88 ha. (88.66 acres)
The designation is primarily to cater for port industries which are heavy industries by nature.
35.88 ha. (88.66 acres)
Further information is available in the online brochures and from Cian McMorrow from Bannon on 01 6477900
6 Grafton Street is to be offered for sale by joint selling agents David Carroll of Bannon and Lena Clarke of Lisney and interest is expected to be brisk.
Number 6 is located on a prime retail pitch on Ireland’s premier street between Nassau Street and Duke Street close to Brown Thomas, Marks & Spencer, River Island and Weirs. Grafton Street is following the recovery being experienced in other sectors of the property market. Vacancy levels are falling and the street has attracted new tenants including Massimo Dutti, Levi’s, Cath Kidston, Vans and Ecco. This improvement in occupier demand is expected to translate into a recovery in rental values.
The entire of 6 Grafton Street is let under a single lease to M&M Enterprises Ltd trading as Bus Stop Newsagents who retail from the ground and basement floors. The upper floors are sublet and in use as an internet café and tanning salon. The total annual rent is temporarily abated to €240,000 per annum and the lease has another 6 years to run expiring in August 2020. The building extends to 242 sqm (2,605 sqft).
Lena Clarke of Lisney and David Carroll of Bannon, who are handling the sale, anticipate strong interest and are requesting tenders from prospective purchasers by 12.00 noon on 20 March 2014 (unless previously sold). Purchases completed prior to December 2014 will benefit from the favourable Capital Gains Tax provisions extended in last year’s budget.
The selling agents are guiding a price of €3 million, which reflects an initial yield of 7.65%. The property is expected to achieve this level in light of recent sales. Last year the sale of 11-13 Suffolk Street let to Avoca set a new benchmark for prime retail when it achieved €7.2m which was an initial yield of 5.71%. Prior to that 46 Grafton Street let to Hutchinson 3G Irl Ltd achieved €6m which was an initial yield of 7.10%. 103/104 Grafton Street let to River Island was sold for €40m in 2013, reflecting a yield of 7.04%.
For further information contact Lena Clarke, Lisney, on 01 638 2749 or David Carroll, Bannon, on 01 6477900
Bannon, on behalf of Tom Kavanagh (Receiver), is seeking in excess of €350,000 for no. 22 Drury Street a terraced investment property in the heart of the South City Markets.
Bannon, on behalf of Tom Kavanagh (Receiver), is seeking in excess of €350,000 for no. 22 Drury Street a terraced investment property in the heart of the South City Markets.
The property extends to 69.8 sqm (751 sq ft) and is partly occupied by acclaimed make up artist Ken Boylan on a short-term lease with a current passing rent of €24,500 per annum. The upper floors, which benefit from separate access, are currently vacant but in turn key condition. This is the fourth sale along the street the agents Bannon have handled in the last 18 months and they are expecting considerable interest for this latest sale.
A private investor has paid €3.4m for the AIB occupied investment in the heart of Rathgar Village with a passing rent of €275,100 per annum.
This will yield the purchaser a return of 7.75% with potential to rise to in excess of 8% if the rear site is developed. The building extends to 9,500 sq ft and was extensively renovated and extended in 2005 prior to the original sale and lease back.
However, the key selling point of this property is the substantial car park to the rear of the building which was granted planning for a 6,000 sq ft office scheme in 2009. This site would readily suit a mews type or townhouse residential development over time, subject to planning permission.
David Carroll of Bannon, who acted for the purchaser, stated ‘the investment offers something unique in that it will provide steady rental income for the purchaser whilst offering the ability for small scale residential development to the rear which will benefit substantially from the recovery evident in the south Dublin residential market’.
The Lafayette Building, one of Dublin’s best known privately owned structures is coming to the market through Bannon with a quoting price of €3.5m.
Redeveloped by Treasury holding in the late 90’s, this striking six storey over basement building dominates the city’s streetscape on the southern side of O’Connell Bridge. It has uninterrupted views over the City’s principle thoroughfare including major city landmarks such as the GPO, The Spire and The O’Connell Statue.
The basement, ground and first floors of the building were let to Manchester United back in 2000, who only occupied the property for a couple a years before withdrawing from Ireland. They still pay their rent of €520,000 p.a but have sub-let the property to the Lafayette Bar and Café who run a night club from the basement and bar from the ground floor.
The second floor and part 3rd floors are separately leased and occupied by The Blood Bank. The remaining upper floors comprise 14 residential units which have already been individually sold off.
The combined income from the building of €625,453 would deliver a prospective purchaser an initial yield of 17%. This return will be dramatically impacted should Manchester United action their break option in August 2015, despite the 9 month outgoings break penalty. However according to agents Bannon this is where the asset management opportunity lies.
Of particular relevance in this regard will be the new Luas ‘Crosscity’ line which will have a stop literally outside the buildings front door. According to Rod Nowlan of Bannon ‘This will be a real game changer for the occupational prospects of the building and this side of Westmoreland Street in general’. Including the break penalty, income will effectively continue to flow form the Manchester United portion of the buildings until mid-2016 which is only months from the anticipated completion of the Luas Cross City Line.
Due to the looped nature of this line this particular stop is likely to be one of the busiest stops on the entire Luas network.
Two commercial units within Blessington Business Park, Co. Wicklow have recently come to the market through agents Bannon, acting on behalf of Joint Receivers Kieran Wallace and Sarah Jane Pentony of KPMG. Units 2 & 3 Aran Centre both have an area of 276 sq m (2,970 sq ft) and form part of a terrace of six modern commercial units situated opposite Aldi, close to the town centre. Occupiers within the centre include TechCon Group, C.J. Auto Parts, Proserve Cranes and Maja Polish Food Shop.
Unit 2 is being sold in shell condition with the benefit of full vacant possession at a quoting price of €110,000. Unit 3 is occupied on a short term basis by C.J. Auto Parts. A quoting price of €130,000 is being sought for this unit. Both units have a two storey section to the front with warehouse and mezzanine space to the rear which is accessed via a loading door. Given the high profile of the centre both units would lend themselves to a variety of uses including retail, subject to planning permission.
The e-brochure can be viewed at the following link: wicklow-blessington-aran-centre or please contact Niall Brereton
Bannon, on the instructions of the local Quinn family, are bringing to the market a modern mixed-use investment opportunity situated in the heart of Sligo with an asking price of €3.7m.
Known as Castlewood House, the opportunity comprises a modern commercial and residential development which was completed in 2010 and finished to an exceptionally high standard. The property was developed by local businessman Kevin Quinn and family.
The development has dual frontage onto both Rockwood Parade, along the Garrivogue River, and Castle Street.
The sale includes a large department store fronting Castle Street which is occupied by Heatons, together with three floors of self-contained office accommodation, 16 apartments and car parking.
Heatons occupy the 2,341 sq m department store on a 25 year lease from 2010 with over 22 years unexpired term certain. The current rent of €200,000 per annum (set in 2010) will be subject to a fixed uplift in 2015 to €250,000 with market reviews five yearly thereafter. The office accommodation is accessed via a separate access and lobby from Castle Street.
The residential element in its entirety includes 21 apartments, 16 of which are the subject to this sale (9 x 1 beds and 7 x 2 beds). 15 of these 16 apartments are currently occupied and producing a gross income in the region of €120,000 per annum. Each apartment is fitted to a high standard with modern fixtures and fittings throughout. The apartments, many of which have river views, are developed within two blocks and benefit from a landscaped courtyard area. These apartments are amongst the highest quality outside of the capital.
A basement car park with over 50 spaces provides parking for the residential and office elements and also forms part of the sale.
David Carroll of Bannon, who will be handling the sale, comments ‘we expect there to be considerable interest in the opportunity given the secure long term nature of the Heaton’s income and the opportunity to acquire a portfolio of residential units with a proven high occupancy record in the heart of Sligo’. The property will be sold in three lots with Lot One comprising the commercial element and car park, Lot Two the residential element and Lot 3 the entire.
Bannon has been appointed to let a 2,215 sq m (23,850 sq ft) modern headquarter facility at Woodford Business Park, Santry.
Until recently it was the Irish headquarters of Staples, the global supplier of office products, who vacated as part of an overall restructuring of their operations.
The building comprises two levels of office accommodation which are finished to a high standard and account for approximately 54% of the overall floor space. The interlinking warehouse facility features 9m eaves and is fitted with racking.
The e-brochure can be viewed at: brochures.bannon.ie/santry-woodford-business-park-6-2-6-3 or please contact Niall Brereton on 01 6477900
Bannon are seeking €1.25m for an investment/development opportunity situated on the Swords Road in Santry. The opportunity comprises Block A, Dublin Airport Business Park together with an adjoining 1.17 acre site with full planning permission for a commercial scheme of development. Block A is currently producing €85,000 of rent per annum with the opportunity to increase through active management.
For full brochure details: brochures.bannon.ie/dublin-airport-business-park-santry or for more information please contact David Carroll of Bannon.
