COMMERCIAL PROPERTY

Newry businessman is major Tipperary estate buyer

Blarney Golf Resort’s new owner was also the buyer of Co Tipperary’s 1,200 acre Kilcooley estate, the Irish Examiner has learned.

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Club gets green to go

Sold at the lower end of its €4 million to €5 million price guide to a consortium, is Co Kildare’s Moyvalley hotel and golf club, with 460 acres, apartments and courtyard cottages.

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€2 million hotel tag

The Westlodge Hotel in Bantry, Co Cork which has been in operation for over 40 years, is for sale for €2 million.

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Tesco Express in Bray checks out in €2.7m sale

A Bray Tesco Express sale has closed out for €2.7m, indicating a net initial yield of 8.6%.

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Office site with planning grant going for €25m

A Dublin office site with a 2013 planning grant for 1660,000 sq ft of Grade A offices is for sale for €25 million, having previously sold for €160m to Bernard McNamara.

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Belfast tower hits new heights with £20m buyer

A Belfast tower building 11 storeys higher than the Republic’s tallest structure, the Elysian, has been sold as part of a loan sale.

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Grand Parade of latest acquisitions

Serial pharmacy investors Conor and Denise Phelan are continuing a second expansion of their chain of outlets.

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Portfolio with income potential

A mixed commercial and business property portfolio with an annual income of €650,000 is being offered to Irish and overseas investors, carrying a €6.5 million price guide.

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Successful city auction nets €1.7m in 30 minutes

A total of €1.7 million was transacted in just 30 minutes this week at the latest Resolve auction.

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Mixed-use Kinsale building for €250k

A MIXED used building in the heart of harbour town Kinsale is for sale, with seven apartments, office space and ground floor commercial use — all for €250,000-plus.

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Crafty pub owner buys Dublin premises for Sober makeover

A Londonbridge address comes with a Dublin 4 pub buy — bought this week by a Cork-based publican, restaurateur and nightclub owner.

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Warehousing stability

THERE are emerging signs of price stability in industrial rents and sale prices in Cork, says agent David McCarthy of Lisney, confirming details of two recent sales on behalf of receivers, and as the firm brings a further large Harbour Point unit to the open market.

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Appeal withdrawal clears way for former Dell site

Work should be clear to proceed on a redevelopment of the Dell computer plant in Limerick into a €300 million medical manufacturing facility after withdrawal of an appeal to An Bord Pleanála.

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Athlone hotel at the heart of it all

Guided at just under €1m is the 71-bed Midlands hotel, the Creggan Court, part of a roadside complex in the centre of Ireland, at Athlone.

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Penneys are on a roll

TOMORROW is the tender date for the sale of Cork City’s Victoria Hotel on St Patrick’s Street and Cook Street, with well over a half dozen parties expected to make offers on the historic 33-bed city hotel.

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Fota Island Resort wins planning extension

Fota Island Resort’s new owners have obtained permission to complete an overhaul for which local authority approval was first granted a decade ago.

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Aldi wins Elysian go-ahead

A rare and clear run through planning has been secured by Aldi for a new store at the ground floor of Ireland’s tallest building, the Elysian, right next door to Cork’s City Hall.

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Nama’s largest asset sells for €311.5m

ONE of the first firms to avail of real estate investment trust legislation introduced by Finance Minister Michael Noonan in the budget, Green REIT, has concluded its acquisition of Nama’s biggest prize — Central Park, Dublin, for €311.5m.

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The Millrace Hotel is sold

Hotels ‘booked out’

HOTEL sales momentum is continuing to gather pace as the year’s first quarter ends, with sales agreed or closed totalling around €10m at Cork’s Oriel House Hotel, in Ballincollig, in Charleville, and in Wexford’s Bunclody, where the Millrace (previously a Carlton hotel), has just been sold by CBRE.

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€2m sale for Maltings

A MODERN mixed-use investment building in Cork’s Carrigaline has been sold for around €2 million, acquired by an Irish investor via a competitive bid process.

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The fast-food drive-thru in Dublin has rent of €290,000 per annum.

McDonalds/KFC drive-thru sells for close to €4.5m

A Dublin ‘drive-thru’ investment just off the M50 and let to fast-food operators, McDonalds and KFC, with a rent roll of €290,000, has been bought for a private investment portfolio for close to €4.5m, showing a 6.7 % return.

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Dublin City hotel is ‘inn’ demand for €9m

A Dublin City centre hotel, which previously traded as a Holiday Inn, is for sale for €9m.

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Office rents up 10%, but retail rents falling

Office rents are up 10% already in 2014 in Dublin as the office market leads the recovery of the country’s commercial market — but retail’s still a drag, with rents continuing to fall even in major cities like Cork and Dublin.

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Blocks in the city

TWO niche apartment blocks in a high-profile corner setting by Cork’s Kent rail station are new to market this week with agents Savills who describe them as “high-end”.

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Hotel is a Grand buy for just €550,000

A seaside hotel with a history of 219 years is for sale in Waterford.

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Lissarda Manor on three acres could be a lucky 13 for someone

“There’s huge value for money here,” says Sam Kingston of Casey and Kingston, appointed selling agent for the 10,000 sq ft, expensively-built Lissarda Manor guest house on the main Cork-Macroom/Killarney Road.

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Three bankers hit Munster market

THREE working bank premises, all on long leases to AIB, hit the market this week as investment buys through Irish and European and GVA Dónal Ó Buachalla.

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Watchorn family buys historic Doolan’s bar

Waterford’s historic T&H Doolan’s inn has been bought by a bar and hospitality family from the south-east for over €500,000 at a lively auction.

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New future for Heritage

An emblem of the Celtic Tiger era, the Heritage Hotel in Co Laois, goes for sale this week with €5.5m price guide.

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€3.2m city portfolio

A private investment portfolio of 28 apartments, and two retail units in Cork city centre is being offered to market in lots, worth €3.2 million combined.

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The expansion of multinationals like EMC, which has offices at Citygate, Mahon, above, is one prong of the property recovery. Picture: Denis Scannell

Cork’s property market recovery due to foreign input

Cork’s recovering property market is being driven by international forces: FDI new arrivals, the expansion of presences like Apple and EMC, and by foreign investors.

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Anner Hotel, in Thurles, sold for more than its €1.1m price.

Two hotel sales save 180 jobs

More than 180 hotel jobs in Tipperary and Cork have been secured with the sales of two well-known county hotels, The Anner, in Thurles, and the Midleton Park Hotel, in Cork.

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Occupied by a Tesco Extra supermarket and a pharmacy, this single-storey building has annual rental income of €103,000.

Tesco rent’s an Extra

A RECENTLY let, double-tenanted building on Cork’s suburban Douglas Road, by St Finbarr’s Hospital, is up for sale as an investment, for €1.5m.

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The 1.46-acre site in Mallow, Co Cork, which has planning until 2017.

Six-house site in Mallow with planning for €150,000

Already well over its guide price is a development site for six houses in Ballyellis, Mallow.

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The red-brick, Bank of Ireland branch at Wilton Shopping centre has been sold for just over €3 million to Norwegian investors, Adel Crest.  Picture: Denis Scannell

Norwegians buy bank

Confidence in investment recovery in the past year is evident in the €3m-plus sale to Norwegian buyers of a Bank of Ireland bank branch in Cork’s Wilton suburb.

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€2m-plus value on residential lots

These seven modern apartments at 38 Mary Street are in a new-build complex around a courtyard with rental income of €65,000.

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German discounter opens in Coal Quay

Retailer Lidl is the first of two German discount chains to make a strong foothold in Cork city centre, opening today in Cornmarket Street, ahead of Aldi’s plans to locate in the ground floor of the Elsyian tower.

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Major Cork office plan gets green light

Cork City Council has given the go-ahead for a major c 200,000 sq ft office development plan at Albert Quay, Cork.

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That empty feeling

FOR the human body, a doctor will assess a patient’s well-being by their general appearance and by checking their blood pressure.

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4Home a perfect fit for retail buyer

It’s like a second town has been built behind the original streetscape of Macroom in mid-Cork, where the former 4Home store has come up for sale and is likely to be bought for convenience retailing.

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Top Waterford hotel for sale

Billing itself as a top Waterford city four-star hotel, the modern-build Fitzwilton comes for sale with a €2 million price guide, just in time for the city’s 1100-year anniversary celebrations.

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Spotting a market in the Gap

Forget about your standard ‘gap in the market’ — heading towards 50 years in business, Killarney’s Moriarty family have spotted a second market in the Gap.

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A Golden opportunity

A strong local trade, in the heartland of Munster’s Golden Vale, underpins the good trading figures at the Charleville Park Hotel — just released to market.

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