COMMERCIAL PROPERTY

24/25 South Mall is an investment to bank on

The arrival of a recently-merged credit union, with strong branding, on Cork city’s traditional banking and financial services heartland and where older office buildings are still selling at €1-€4m values, is indicative of the changes across a range of professions and the banking sector there in the past decade.

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Belmont Huts has harbour sights

There’s a rising tide of investment and development going in around Cork harbour, and hoping to capitalise on that are the vendors of a site called Belmont Huts, back for sale with a fresh grant of planning, and at multiples of its previous sale price just over two years ago.

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Allsop auction will feature 150 lots in a sale that could generate up to €30 million in transactions

NEXT Thursday’s 150-property Allsop auction will include 25 properties/lots with average lot sizes in excess of €500,000 as it dovetails with a niche ‘Allsop Private’ segment of higher value sales: in all more than €30 million worth of property is expected to transact, including multi-unit residential offers.

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Planning Notes: 3Arena appeal increased capacity plan at Citiwest

The operators of the 3Arena are among appellants in relation to recent permission for increased audience capacity for concerts at the Citywest centre in south Dublin.

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Lisney look to sell land fronting River Lee

Having sold five acres of prime house building land in Cork’s Ballintemple to Dublin-based Centurion Homes for close to €4 million, or €800,000 an acre, agents Lisney now have a different scale of land sale across the city, fronting the River Lee above Ballincollig at €30,000 an acre.

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Lots to choose from in varied Cork auction

Over €5 million could be netted from the sale by auction next month of more than 25 mixed lots in a DTZ/Sherry FitzGerald auction that includes a former city pub, a former suburban Douglas shop, and bundles of apartments, aimed primarily at investors.

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IPAV president Alan Redmond calls for review of vulture funds

A review of the future role of so-called vulture funds, who are flipping Irish properties for profit and in cases forcing existing tenants from their homes, has been called for by Alan Redmond, new president of the Institute of Professional Auctioneers & Valuers (IPAV).

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Planning granted for scheme of 121 homes

Permission for a scheme of more than 100 new homes in Portmarnock, north Co Dublin, has been granted.

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Highly profitable Farnham Estate hotel

Described as one of the most profitable hotels in Ireland, and certainly on one of the largest land holdings at 1,250 acres, the Farnham Estate hotel has officially gone to market this week, guiding €26m, a fraction of the reported €85m investment cost when developed by pharmacy chain owner Roy McCabe a decade ago.

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Cork retail unit on Patrick Street to let

A primely-set Patrick Street retail unit, being vacated by long-established fashion chain French Connection, is up to let with a reverse premium incentive offered to a new occupant.

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Examine this school premises in Cork’s education zone

A base for a school, college or other education-type use comes to market this week to let, just as tens of thousands of Irish students commence the rigours of Leaving Cert and Junior Cert exams.

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Cosy investment opportunity at Limerick DFS sofa showroom

Limerick city’s new DFS sofas showrooms, opened just prior to last Christmas, has been offered for sale as an investment, with a guide price of €3 million.

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Cork site with scope for 40 new homes in the ‘order’ of €2m

Zoned house-development land at Cork’s Montenotte, with scope for 40 new homes, is selling this week for €2m. 

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Office investment available in West Cork Technology Park

An office investment let to a global web and conference call company PGi in the 1,000-job West Cork Technology Park has been put for sale, with a €320,000 rental income and a €2.5 million guide price.

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Kerry shops sell for €2.3m

A local has emerged as the €2.3m-plus buyer of a Killarney town-centre, modern, retail-based investment property called The Courtyard.

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