COMMERCIAL PROPERTY

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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Planning Notes: Retirement village plan for equestrian centre

An equestrian centre near the Cork suburb of Rochestown could become a retirement village if a recent planning application is successful.

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Corner warehouse in bustling east Cork business park already over the offer at €165,000

One unit down, one smaller one to go in East Cork’s jostling business parks this week with Lisney.

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China girl sews up sale near Singers Corner

An un-named Chinese investor has stitched up a deal on Fitzgerald House, an 11,600 sq ft property facing Cork city’s English Market and adjacent to the dramatically just-painted up Singers Corner, where - coincidentally - a commissioned mural by artist Johnny Bugler depicts a floral Chinese pattern, as seen on old Singer sewing machines.

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Hooked on the market

There is an aisle? It’s all go, gongs and gills at the fish-mongers’ section of Cork city’s famous food-friendly English Market.

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Another sales boost on horizon for Cork docklands

Tommy Barker reports on quay deals for future dock developments.

 

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TD’s former offices up for letting to right candidate

There are different and unexpected ways to lose a tenant – but a constituency redraw is one of the more unusual.

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Street food for thought

IF an army marches on its stomach, and an economy on its retail and restaurant expansion, then things are clearly picking up in Cork - with knives, forks and chopsticks at the ready in the ‘Asian Street Feud’ moves.

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Five Nama-controlled shopping centres up for sale

Three Munster shopping centres are among five so-called ‘provincial shopping centres’ dubbed the Harvest Portfolio, up for sale promising a nine per cent return on a €50million investment.

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Commercial unit on the western edge of Cork City

A new Audi car showroom has opened 100 metres away, and a new filling station, shop and food complex is nearing completion directly across the way – so what new use now for this Ardarostig, Bandon Road Cork property?

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Auction deadlines looming before end of CGT exemption

There’s several auction deadlines looming in the coming weeks, in the run-up to the expiry of the CGT exemption reliefs at year’s end.

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Malone snaps up Strand Hotel

The €20m sale of Limerick city’s four-star Strand Hotel has gone through to US billionaire John Malone: he adds it to his other Irish hotel investments, such as Dublin’s Hilton Hotel, the Westin and the Trinity City Hotel.

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Tara jewel in the crown

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100-bed Westlodge Hotel faces sale by tender

West Cork’s Westlodge Hotel in Bantry is now facing a sale by tender, by December 5, to effect a sale by the year-end CGT expiry deadline.

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Thirst for former bars as buyer interest hots up

A bar with name that sums up its catchment is up for sale: it’s the Thirsty Scholar, on Western Road/Lancaster Quay, near UCC, the Mercy Hospital and The River Lee Hotel which changed hands last year for €25m.

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Waterford island floated

IRELAND’S signature castle hotels have been changing hands with aplomb this year – think Ashford Castle, and now Adare Manor on the hook for c €40m, while this week the illustrious roll-call is joined by the more modestly priced Waterford Castle.

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Dealicious investment

IT’S A Dealz, says East Cork estate agent Miah McGrath, holding out the prospect of a 10% return on a Midleton town centre investment, guided at €1.3 million, and with €140,000 a year income stream.

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Sandyford umbrella group’s launch puts business on the map

There are already 22,000 people employed across Dublin’s Sandyford Business District — where a collection of four existing business parks has scope for 17,500 more employees, as well as further commercial and residential development.

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Savills went for a song at cities’ talent show fundraisers

A talent-show fundraiser run by estate agents Savills in Cork, Dublin and Belfast cities last week raised over €50,000 for cancer services in each of the three locations, entertaining over 1,000 people in the process. And, Louis Walsh impressions featuree among the three different judging panels in the Cork/Dublin/Belfast’s ‘Got Talent’ shows.

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Former bank’s new look

There’s shades of banishing the remaining ghosts of the much-reviled Anglo Irish Bank at its building foot-prints in both Dublin and Cork cities: the Central Bank has started to convert Anglo’s vaunting vanity HQ project to new State service, while Cork’s former Anglo Irish Bank building is getting a re-brand and letting pitch after a multi-million euro purchase.

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Two Midleton sites ideal for residential developments

TWO sites aimed at builders at East Cork’s Bailick Road come to market this month, one with agents Lisney, the other with DTZ Sherry FitzGerald.

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A top office opportunity

THE top floor of City Quarter, the Cork City quayside office block facing the ambitious, new One Albert Quay €45m office site, has finally been leased.

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Site is on the right track

Wheels within wheels — an appropriate new use has been found for part of the giant, old Cork Ford factory — it’s to host whizzing karts, on a brand new indoors track.

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Investing in Mall ware

Further office sales and investments beckon on Cork city’s South Mall traditional offices heartland, hot on the heels of a building investment sale by Allsops last month, for €1.4million.

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Plannning Notes: Permission granted for medical clinic at Lotamore

An historic home on Cork’s northside is in line to become a medical clinic after a recent grant of planning permission.

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Planning notes: Permission granted for Castleknock scheme

Permission has been granted for a scheme of over 200 new homes near Castleknock in Dublin 15.

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Strategic investment opportunity close to city

Two apartment complex offers in Cork city, and both strongly let, are being offered to investors at sums of €5.5m and €6m-plus apiece.

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New lettings at Mahon Point reflect positive Cork City retail outlook

AS agents Savills predict that 2015 will be the best year for retail in Cork since the downturn began in 2008, and witha number of tenant deals and relocations completed along Patrick’s Street (including SuperDry into the Moderne), a 75,000 sq ft site is now on the market for €6m at Grand Parade/Patrick Street: and retail deals are also flowing at suburban Mahon Point Shopping Centre for its owners, Deka.

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Good brews for park

A multi-million euro brewing investment has commenced on Cork city’s Marina Park— ironically, in a 50,000 sq ft unit previously used by Beamish and Crawford as a distribution depot.

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Large retail investment for sale in Killarney

A sizeable retail investment in one of Killarney town’s most central modern developments, the Courtyard, has come for sale on behalf of three private investors, offering a c 12% return to a new owner.

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New plans lodged at Fermoy for M8 motorway services

New plans have been lodged for a motorway service area off the M8 motorway near Fermoy in north Cork.

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Building offer adds up to a good proposition

ONE of Ireland’s top ten accountancy firms, Moore Stephens Nathans, is to sell its Cork HQ — a former Bank of Ireland premises on the South Mall — on a new 12-year lease and at a rent of €180,000 pa.

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Good opportunity to express interest in retail investment

A Dublin 8 retail investment let to Tesco Express is on offer at a c 7% net initial yield. Michelle McGarry of Colliers International seeks offers around €1.6 million for the ground floor investment at 51/52 Thomas Street, Dublin 8, close to the Meath Street junction near NCAD and St James Hospital.

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Former IFI plant bids may lead to new use and jobs

After years in abeyance, Cork harbour’s infrastructural asset Marino Point may be poised for new uses and employment, subject to its multi-million euro sale being ratified by Nama in coming weeks.

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Aldi unit hard to discount as Ballincollig investment

A retail unit acquired in 1999 as the second ever Aldi Irish store is up for sale by tender as an investment: it’s the anchor tenant in the Westside Retail Park, Ballincollig in Cork, on a lease set to run until 2024.

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Plum private portfolios

AS Nama this week brings 588 apartments for sale for €116 million in Dublin, aimed at REITS and overseas investment groups, offers on a smaller scale of apartment blocks maybe of more interest to private buyers conscious of the end of year expiry date of the CGT exemption for investments held for seven years.

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