State to pay €18.50 per sq ft for 24,300sq ft at Brenta Group’s Paramount Place scheme
A highly reversionary office investment opportunity located within Ballybrit Business Park, a well-established commercial park on the outskirts of Galway city, has come to market with agent TWM. The investment comprises two office buildings, extending to some 1,847 square metres gross internal area in total on a 0.8-acre site.
Latest deal brings value of Corum’s portfolio in Ireland and Northern Ireland to €146m.
French asset management company, Corum, has increased its overall investment in Ireland and Northern Ireland to over €146 million with the acquisition of the Tesco supermarket in Gorey, Co Wexford, for about €21 million.
79-83 Prussia Street offers scope for 17 units at the heart of Dublin’s Stoneybatter.
Investors and developers looking to take advantage of Stoneybatter’s newly-minted status as “Ireland’s coolest neighbourhood” may be interested in an opportunity which has been brought to the market on Prussia Street at a guide price of €1.5 million.
The two big projects are part of a response to heightened interest in the city
Developers have begun to respond to demand for commercial property in Galway, and Gerry Barrett is leading the charge with two major city centre projects. Similarly, investors are also demonstrating increased interest in the City of the Tribes as reflected in recent deals.
Sarah Winters of agent TWM is seeking offers in excess of €1.6m plus VAT for 13 partially-completed residential units distributed across the Cuirt na hAbhainn estate in Claregalway, Co. Galway, an established residential development within Claregalway village approximately 11.6kms from Galway city centre.
TWM are delighted to support Peter McVerry Trust “Sponsor a Brick” campaign again this year. We encourage all property related businesses to do the same and you can donate here: www.pmvtrust.ie/donate
In our second report of a series on “Economic and Commercial Property Highlights” this year, TWM examined a range of economic indicators and global events that have an impact on the property market here at home.
The report, which was produced in association with economic consultant Stephen Walsh, provides some details on recent commercial property investment transactions. The indicators, while somewhat mixed, support underlying demand in all sectors of the property market.
In 2010 there were just two investment deals completed in Ireland, one of which was the pre-funding of the new Tesco Supermarket in Roscrea, Co. Tipperary, by the Israeli investor Igal Ahouvi. Following the delivery of the new property in 2011, Tesco moved from its smaller 1,900 sq m (20,000 sq ft) store at Roscrea Shopping Centre to the state-of-the-art, stand-alone 4,300 sq m (46,000 sq ft) store it occupies today.
The seismic events of 2016 will see “uncertainty” become the buzzword for 2017. With the precise direction of Brexit still unknown, Trump’s late-night tweets, elections this year in France and Germany, this uncertainty will continue. Such uncertainty makes decision-making difficult. If 2016 taught us anything, it is the importance of preparing for all eventualities. The following trends are worth watching out for this year.
TWM expects strong demand for No. 32 Newcastle Road, Galway, which it is bringing to the market for sale. This semidetached two storey over basement mixed use investment building is situated within a busy location on the fringe of Galway city centre, immediately opposite University Hospital Galway.