The latest moves in the world of business.

A review of the performance of the Cork commercial property market for the first quarter of 2019 by Lisney gives support to sentiment of a temporary cooling down in activity levels.

Already immaculately turned out, the new owners of this Blackrock showhouse won’t need to worry about decorating for a while, writes Tommy Barker.

INVESTMENT in Ireland’s commercial property sectors may hit €3bn by year’s end, after a particularly strong run-up to the end of Q3, and with several key Cork investments playing a strong regional role.

WITH all roads set to lead to Cork Harbour’s Ringaskiddy, thanks to a Port of Cork downriver operations move, and a new, vastly improved road link, the timing of the launch of a major space facility for logistics, storage, and manufacturing is apt.

THE quiet market sale of a €30m-plus residential development, totalling 165 apartments in Cork’s Ballincollig, is likely to see a continuation of overseas buyers and funds now looking for multi-family investments of scale, outside of the Dublin market.

THE imminent sale of the Elysian tower development to an as-yet unconfirmed international fund, with 217 fully let apartments and commercial units at what’s understood to be a 5% return, may see a snowball effect of REITs and funds interested in Cork city’s multi-family unit sector.

INVESTMENT sales at Cork Airport Business Park are lining up for take-off, and landing, with increased regularity.

First South Africa, then the Rockefeller Centre, New York – and, now Cork is about to be hit by Rain.

Brian Olden and Jackie Cohalan of Cohalan Downing Auctioneers (CDA) say “it’s a high-quality property, with a wonderful flow to it, ideal for family living or entertaining.”

The largest office building in Cork’s Airport Business Park has been sold to an investor, for just over €5.5 million – and, it is likely to be offered to the rapidly expanding international communications company Newsweaver, whose global HQ is already at the Airport Park.

The Cork commercial market is coming off something of a purple patch but, according to Lisney’s third quarter update, it may be starting to take a breather.

With impeccable timing, three new tenants are moving into Cork’s city’s gem-like boulevard, the Winthrop Arcade, via agents Lisney.

A hot-in-demand Cork suburban residential building site gets offered for sale for the third time for its owners Eir, the new name for Eircom.

TWO key moves this week may put Cork city on the investor and retail radar, as the city centre inches back from the slack years of recession.

Office activity in Cork’s suburbs, especially from FDI companies, has picked up sharply in recent months, according to agent Paul Hannon of Lisney.

Bigger than a wedding marquee - that’s the proposed new national Bridal Centre.

WITH a pick-up in fortunes at the northern end of Cork City’s retail thoroughfare, Patrick Street, a new sales push and a new agent are behind the vacant corner property at No 125 Patrick Street/Lavitts Quay, by St Patrick’s Bridge.

OWNER-occupiers are to the fore in inquires about warehouse units priced from €100,0000 to €600,000, according to specialists, Lisney, saying the range of offers at Little Island Cork shows a pick-up in activity.

heritage building on Cork city’s elegant North Mall which sold at auction to a co-operative housing group in 2008 for €1.36 million is back on the market, now guiding €425,000, after some further building conservation and conservation roofing work.

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.

AN investment that included land, and buildings and rental income has been sold in West Cork for c €1.4m.

Details have yet to emerge as to the buyer of Clonakilty’s Waterfront site, gone sale agreed to an undisclosed buyer, in trust, after a best bids and tender process via Lisney, and likely to have been bid considerably over its initial €1.2m guide.

Size: Sq m 303 (3,250 sq ft)

Pre-tax profits last year rose by 37% to €161,458 at one of the country’s largest property firms, Lisney.

INTERNATIONAL buyers are expected for a clean, and significantly-sized office investment, which includes major employer Amazon, at the Cork Airport Business Park.

House ownership in Ireland has fallen to a percentage not seen for almost 60 years, and the number of people renting has soared 50% since the end of the Celtic Tiger.

Slick operator the Kerry-based men’s fashion retailer Paraffin has taken a prominent unit on Cork City’s Princes Street via agents Lisney, while Savills have found a Wexford-based ice-cream maker for a unit at the corner of Cook Street and Oliver Plunkett Street.

Rose Martin says if you happen to be shopping for an utterly, idiosyncratic house in the city, then lift the knocker

This high-bay, high-spec 84,000 sq ft warehouse at Courtstown, Little Island, made up of three units, is being bought for c€2m.

THE newly appointed managing director of property firm Lisney, James Nugent, said yesterday he is satisfied with the company’s performance last year.

ONE of the country’s largest real estate firms, Lisney, last year returned to profit in spite of revenues falling 32% to €8.9 million.

THE house market might have been on the floor in 2010 — but, if it was, the commercial end of the business was in the basement by comparison and, unlike the stamp duty break given to the residential market in Budget 2011, it still has a high tax rate on transactions.

NEWLY out on his own as an estate agent, but with 15 years national agency experience behind him, is Bandon and Cork city auctioneer Mark Kelly — whose early sales listing is a place particularly close to his heart. It is his former family home and childhood stomping ground.

AVERAGE annual salaries for the group of executive directors at one of the country’s best known auctioneering firms, Lisney, have plummeted by 86% from €455,737 to €62,269 in the space of two years.

THERE are green shoots of growth — in more ways than one — at the country’s tallest apartment tower, Cork’s Elysian building.