Nando's for Dun Laoghaire
Property and start up investor, Sean Duignan, has just submitted a planning application for a re-development of the high profile Harbour Bar on Marine Road in Dun Laoghaire.
The application envisages the sub division and redevelopment of the existing property into two restaurant units with offices overhead. The new development will include external dining areas to the front capitalising on the significant upgrade of Marine Road already completed by the local authority which has improved the links between the town centre and the harbour by way of a public boulevard.
Even before planning had been lodged Nando's, the peri peri chicken restaurant chain, had signed up to the first unit of 316sqm. They have agreed a 20-year lease at a rent just under €80,000 per annum.
Peter Atkinson, acquisitions manager for Nando's, stated that "the location provides Nando's with the pedestrian flow and profile they were seeking for their next restaurant in Dublin.
"Dun Laoghaire generates a mix of business and casual diners which is ideal from a restaurant viewpoint".
Overall upon completion up to 80 new jobs will be created within the building.
OfficepodsTM, the serviced office provider, has reserved the two upper floors providing a very unique situation in the current market -- two thirds of a new development pre let in advance of planning.
The remaining restaurant unit, extending to more than 204sqm, is now available and letting agent Sean O'Neill of O'Neill Strategic Property Advice is quoting €70,000 a year for it. The rent for the over head offices is around €20,000.