€2m likely for northside furniture prospects
Published 20/04/2011 | 05:00
Two northside Dublin furniture stores in high profile positions are among a number of retail units which are currently for sale or to let.
The Queensway furniture showroom on the Swords Road in Santry, Dublin 9 is for sale by tender.
Located on a 0.86 acre corner site adjacent to Omni Park Shopping Centre, the 1133sqm property comprises a single- storey detached building.
Joint agents Lisney and Grays of Rathmines, have set May 27 as the closing date for tenders but have not put a price tag on the vacant property.
Market experts believe that on the basis of a possible rent of €150,000 a year for similar retail properties and an 8pc yield, the Queensway property could sell for €2m.
However with its extensive frontage onto the Swords Road and its proximity to the M50, M1 and the Port Tunnel, its development potential may push the price higher.
Meanwhile in Malahide Village Michael White's furniture store is for sale with an asking price of €1.9m and agents O'Farrell Cleere say that its high profile position in the centre of Malahide Village offers potential for a range of uses in this sought after upmarket suburb and tourist village.
A 95sqm retail premises on Park Street, a popular trading location in Dundalk's town centre, has become available for an annual rent of €19,500.
Agents Sherry FitzGerald Carroll say it is fitted to a high standard and its modern timber shop front offers a large window display.
Accommodation comprises a bright ground floor retail area, an open plan first floor office as well as a store and staff areas.
The Dynasty Chinese restaurant has taken a lease on a 144sqm restaurant/takeaway unit on Ballymun Main Street.
The rent is €60,000 per annum which represents a 20pc fall on the previous rent set in 2005. Paul Fahey of Bannon, who acted for the landlord says the tenant has received a rent free three months on a 20 year lease. Adjoining occupiers include Boyle Sports, McCabe's Pharmacies and Supervalu.
CeX, which buys, sells and exchanges a range of technological and entertainment products including mobile phones, has taken a 150sqm double-fronted shop at 11/12 Upper Liffey St, Dublin 1 on an overall rent of €80 per sqm.
This is the retailer's first Irish store and it expects to open between 15 and 20 stores.
Paul Reddy, managing director of CeX in Ireland, commented "The franchise concept holds the opportunity to open up in shopping centres, cities and towns throughout the country". Mervyn Feely & Associates acted on their behalf.