COMMERCIAL PROPERTY

Data bank will monitor Cork property market for first time

AS IRELAND’S property investment market returned to new highs with 40% overall Y-O-Y returns for the final quarter of 2014, Cork city’s property investment market has also been tracked and benchmarked internationally for the first time ever.

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Heat expansion from new restaurant by Midleton’s Iceland

Hot spicy food - by way of a fourth Ramen Asian street food restaurant - is set to ok up next to an Iceland store, in East Cork’s Midleton Distillery Lane’s €30m development.

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Construction workers told of impending €3bn State spend

 Irish Water “ready to get shovels in ground” in projects worth €1.3bn, builders hear

 

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Transport company refused permission to convert former Hormann site

Latest planning notes and updates January 2015

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Retail property market recovers in cities

A MAJOR UK-based retail expo comes to Dublin next month for the first time, as the Irish retail market shows signs of recovery from the economic slump.

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Cash in on Georges Quay bank offices

Bank-related group Certus are pulling out of Cork city offices they had only moved into just 16 months ago, as part of a downsizing move, as it prepares to shed 30% of its workforce and shuts offices in Cork, Dublin, Belfast and Limerick.

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It’s lovely, and fair price for Tralee’s Fels Point - one among many

Cork, Kerry and Limerick hotels are among a portfolio of seven profitably trading Irish hotels being sold as a bundle, or individually, by Nama in the so-called Crystal Portfolio, valued all-in at €35m and totalling over 830 beds.

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Kerry seaside holiday home scheme guiding at €1.2m

A Kerry seaside holiday home scheme with 11, large well-built homes with stone facades is for sale for a receiver, guiding €1.2 million, while local reports also suggest the imminent sale of a local hotel or two, to US-based buyers.

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Land at Passage West has full planning, until 2018, for 12 detached houses, and is

Two Cork land parcels and office building on offer in Passage West and Glanmire

A trio of properties being offered for liquidators in Cork include two land parcels, one in Cork harbour’s Passage West for house building the other in Glanmire, for warehousing, along with a Wilton office/retail building totalling 11,000 sq ft.

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Cork city school-yard can be used as pub outdoor dining area

Cork City Council has allowed retention permission for the use of an old city-centre schoolyard as an ancillary to a pub.

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Capitol cinema site ripe for ‘Developments’

DEVELOPER John Cleary hasemerged as the preferred bidder for Cork city centre’s prime Capitol cinema site on Grand Parade, and aims to build a mix of big-box retail units, aimed at the likes of Zara and Forever 21, and fourth generation offices on the site which links back to Patrick’s Street. 

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Cork retail deals at a TK Maxx?

RETAIL developments in Cork in the coming months suggest the marketing of the Wilton Shopping Centre, in a portfolio offer, and TK Maxx opening up in the former Tesco unit in Douglas Shopping Centre.

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Further information sought on Douglas Wetherspoons

The proposed conversion of a former bank building in the Cork suburb of Douglas to a Wetherspoon’s pub is the subject of a further information request from planners. 

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Change-of-use sought for a Meadows & Byrne

The founding premises of homewares specialist store, Meadows & Byrne, in Cork City’s Academy Street will only be vacated and leased to restaurant chain, Nando’s, if planning is secured for change-of-use.

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Starbucks to open first Cork city centre store

GLOBAL coffee giant, Starbucks, is to open its first Cork City centre store, at no 39 Princes Street, a few doors away from the famed English Market.

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The Overdraught bar is ‘paid’ and will soon re-open with a steakhouse menu

The Overdraught has been cleared — or, at least, the bar/restaurant of that name is set to return to business.

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That’s Zamora: wine-and-food restaurant opens on Academy St

Cork’s Academy Street and its adjacent Huguenot Quarter is coming out of recessionary doldrums — and is becoming a foodie quarter: a slew of new restaurants has arrived, with more to come.

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DTZ sees dual-market scenario in Cork office sector

A dual market scenario is emerging in Cork’s offices sector, according to a just-released report by agents DTZ.

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Connolly's Bookshop premises, on the Paul Street Plaza, is available to rent for €25,000 per annum, as proprietor Adrian Connolly isretiring. Widespread interest is anticipated. Picture: Denis Scannell

A new chapter on Cork’s Paul Street as bookshop ends literary link

New chapters beckon at the premises of one of Cork City’s longest-established bookshops, Connolly’s, as owner Adrian Connolly prepares to retire after decades dealing in old and rare books, new books, and records.

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Michael Fassbender joins Roy Keane in buying Cork city offices

Auctions were where much of the sales activity was for the Irish market in 2014 — with Shame and Hunger actor Michael Fassbender among those showing an appetite for a slice of the action. 

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Firm adds to portfolio

AN iconic building in Foxrock, Co Dublin, which hit the headlines in July over a rent dispute has been bought, in an off-market deal, for over €1.5m as, separately, a UK investor Development Securities also swept up two other Dublin buys, for a combined €16m.

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Two new ‘dishes’ on menu

A NEW restaurant, Palmento, is opening in Cork City’s Douglas this weekend, as one of Kinsale’s best-known restaurants, Crackpots, is for sale as a 2015 trading opportunity. Crackpots is offered as a going concern for €700,000.

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Builders back in action

Builders and developers who worked through the seven years of property market implosion and slump are beginning to gear up for a return to construction in cities like Dublin, Galway and Cork.

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Offers ’round €800k for Rochestown’s Oval Bar

A large bar and overhead restaurant, purpose-built within a development of over 800 new homes, is for sale, with a €800,000 asking price - about its original site value, notes estate agent Sam Kingston.

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Business park nets €3.5m at Kinsale Road Roundabout

JUST sold for year’s end, after 40 inquiries and a competitive tender process for a receiver, is the Kinsale Road Business Park in Cork - by the city’s busiest traffic junction, the Kinsale Road Roundabout, passed by 85,000 cars a day.

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Ill wind blows them away

AS the saying goes, when one door closes, another opens: in the case of Mellerick’s Pharmacy in Fermoy, that aphorism might need to be changed to include mention of ceilings and chimneys.

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Killarney golf course on market for €750,000

Expected to sell in two lots is a Killarney golf course with a 20-year pedigree, overlooking 200 year old trees, a 15th century castle - and the four-story shell of an uncompleted 120-bed hotel and lodges project.

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Coup for Irish firm as it wins Chinese pharma contract

Irish firm Wilson Architecture has won a major design contract in China for over 1 million sq ft of HQ, lab and R&D buildings, as part of an enormous new 8.5 million sq ft bio-pharma campus.

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Modern unit at Little Island should appeal to investors

An office investment yielding €42,500 a year in rent is up for sale for €420,000.

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No 7, a class opportunity at Sidney place

IT’s moving out time today for school pupils at No 7 Sidney Place, Wellington Road, a mid-Georgian building high above Cork city - and now for sale, as the school departs its several levels.

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Conference to discuss upward trajectory of harbour

There’s a crane right on the doorstep of the country’s Maritime College: it’s a sign of upward trajectories for Cork harbour, at the site of UCC’s new Beaufort Research Centre, as it prepares to host a conference Friday week on the harbour’s future.

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Auction rings up Tralee bank branch sale of over €3m

Five bidders lined out for the chance to become ‘King of the Castle,’ at an auction where a bank branch sold for just over €3m, or 20% over its price guide.

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Bandon venue is a cut above

A modern build, and done like a small hotel, the Brogan Inn in Bandon is for sale, ready to run, and full of potential.

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Value beyond the pale

A second multi-million euro Waterford sale — the AIB bank branch in the heart of the city for close to €2.25 million to a private investor - is imminent. It comes on the back of the just-concluded sale of the Fitzwilton Hotel, to an Austria-based investor, for €3.2m.

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