The growth of Ireland’s Private Rented Sector (PRS) shows no sign of slowing down following the sale of a portfolio of 54 apartments in South Dublin for around €18.25m.
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 guiding a price in excess of €1.25m for the anchor supermarket unit at Tuam Shopping Centre in Co Galway.
TWM brings the anchor supermarket unit in Tuam Shopping Centre to the market.
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Sarah Winters of agent TWM is guiding a price in excess of €1.25m for the anchor supermarket unit at Tuam Shopping Centre in Co Galway.
Purchase of 15-year-old centre follows recent acquisition in Citypoint in Galway
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.
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Generali House is fully-let at a rent of €505,714 per annum
Mairéad joined the TWM team in 2019 and brings over 20 years’ office management and administration experience from a variety of industries including Pharma, Finance and Construction in Ireland, the US and UK. She holds a BA in Hotel and Catering Management from GMIT and a CIPD Diploma in Human Resource Management from the National College of Ireland.
TWM brings Unit 217 in Eyre Square Shopping Centre to the market.
Sarah Winters of agent TWM is quoting a price in excess of €1.6m for Unit 217 at Eyre Square Shopping Centre in Galway.
Bennett Property acquired the mostly disused Westmeath development late last year.
While there is a full pipeline of development in the wings, much of this is unlikely to be built without pre-lets in place. That should prevent the office market from any major oversupply in the medium term
Two-storey building produces rent roll of nearly €32,000 from retail and office units
High-profile building on George’s Street set to produce net yield of 10.24%
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Ollie Lyons of agent TWM has completed the sale of No 4 Upper Baggot Street for €1.5m.
Industry opinion is deeply split over the ultimate value of the deals that were done in the Irish property market during 2017
Agents TWM expects considerable interest in a high-yielding retail investment in Dublin’s north inner city – a share of a convenience store let to Musgrave Ltd. and trading as Centre at North King Street in Dublin 1.
The TWM Galway team is expanding with associate director Sarah Winters joining from the TWM Dublin office.
Parkmore West Industrial Estate building let to Creganna Medical for €431,365 per year
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TWM Economic & Commercial Property Highlights September 2017
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
Tesco in Roscrea, Co Tipperary
Two investment properties with attractive yields, which could appeal to private investors, have been brought to the market this week by agents TWM.
The 20 apartments have had over 90% occupancy in recent years
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.
Ollie Lyons of agents TWM is quoting in excess of €1.7m for 4 Upper Baggot Street, an attractive single-let investment in the heart of Dublin 4.
The high profile Faustina Building on the Tuam Road in Galway has sold for in excess of €1.7 million through sales agents TWM. The vacant commercial building, which was in shell and core condition, was sold by TWM on behalf of receiver Tom Kavanagh of Deloitte.
The Faustina building on the Tuam Road in Galway has been sold by agents TWM for over €1.7m – some €400,000 above its €1.3m guide price.
The Delvin Centre in Stamullen, Co. Meath, has been sold for €2.35m – some 23pc above the guide price that had been sought by agents TWM when they brought it to the market on the instruction of receiver Stephen Tennant of Grant Thornton.
Appian Burlington Property Fund buys building that will have initial yield of 7.05%
A landmark office building in the town of Carrick-on-Shannon, Co Leitrim, has been sold for over €6.2m – a premium of more than 11pc on the €5.47m which had been guided by the property’s selling agents, TWM.
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.
Buyers are often from Mars and sellers from Venus, so clear expectations are crucial.
European investors are increasingly looking for risk-averse property investments with strong returns to replace the current negative interest rate environment, low investment returns and the expected volatility in the equity markets.
Irish-based investors Yew Tree Commercial Property Fund have paid €3.21m for two units at Airways Industrial Estate.
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.
Joint selling agents TWM and Cushman & Wakefield have completed the sale of two adjoining industrial at Airways Industrial Estate in Santry, Dublin 17, for €3.21 million.
Sarah Winters of agents TWM is seeking offers in excess of €925,000 for a semi-detached, two storey over-basement, mixed-use investment building just 1.2km outside Galway City centre.
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.
Vacant Faustina Centre on Tuam Road is suitable for offices, shops and a restaurant
Joint selling agents TWM and Winters Property Management are quoting a guide price in excess of €2.2m for the Bridge Centre, a 30,000 sq ft retail centre investment opportunity in Clarinbridge, Co. Galway.
TWM are delighted to be shortlisted in the Property Excellence Awards again this year in the Commercial Agency of the Year category. We are looking forward to attending the awards in November for what is sure to be an enjoyable night.
Concerns in relation to Finance Minister Michael Noonan’s intentions in the Budget for the tax treatment of the commercial property sector were to the fore in discussions between agents and investors with an interest in the Irish market at the Expo Real real estate fair in Munich last week.
Well done to our two TWM teams who took part in the Grant Thornton 5km race in Dublin Docklands on Tuesday 13 September 2016.
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TWM Property Solutions are seeking in excess of €2.5m for two units at Naas Enterprise Park (formerly Toughers Business Park) in Co. Kildare.
Seamus Quirke Rd development includes 20 student apartments, retail units and offices.
There should be keen interest among investors for a mixed-use investment of 20 student apartments, some retail units and offices in Galway which goes on the market this week guiding more than €3.2 million though agent TWM Property Solutions.
Lovely afternoon at the Movies with clients, colleagues and their family! Txs to everyone for joining us! pic.twitter.com/CUkxfQChwt
— michele jackson (@micheleTWM) August 12, 2016
TWM brings to the market a thriving shopping centre investment opportunity in the expanding suburb of Oranmore, Galway. OranTown Centre, which was developed in the late 1990s, extends to approximately 45,000sq ft and comprises 35 retail and office units, laid out over two floors, with the benefit of 230 car spaces.
Riverview House rented by Department of Family and Social Affairs at €600,000
OranTown Centre was developed in the late 1990s and is anchored by Nestors SuperValu
TWM is quoting €1.9m for an investment property in Co Meath.
Stamullen property comprises retail units and seven three-bed duplex apartments
Rent in years one to four is €300,000 and increases to €320,000 in year five
Centre has effectively been vacant since the property crash.
TWM brings to the market Lár na Cathrach, Abbey Trinity, Tuam, Co Galway, a mixed use investment opportunity which is producing a gross rental income of €153,500 per annum as at Q1 2016.
“A multi-family investment property has become the latest asset to be bought by Israeli businessman Igal Ahouvi.
Standard Life’s Dublin office for 30 years with a Georgian entrance on to the south side of St Stephen’s Green and more modern offices backing on to Iveagh Gardens are to be offered for sale as a single investment from today.
Interest in the Irish property market from leading domestic and international investors remains at a high level. In a recent PropertyEU ranking, five of the top 10 investors in Europe were noted as having invested in Ireland. The knock-on effect is that nine of the top 20 funds are still represented here, including global brands such as Credit Suisse, Aviva Investors, Deka Immobilien, Standard Life, M&G Real Estate and Allianz Real Estate.
TWM is quoting €2.7m for an apartment block in Galway for sale as an investment.
Dublin agent TWM is seeking offers in excess of €4.08 million for a long-term investment involving the Bank of Ireland branch in the centre of Drogheda which will show a net initial yield of 7.25 per cent…
“YewTree Investment Fund has successfully acquired 62A Heather Road, Sandyford Industrial Estate.
The process of carrying out property valuations has tightened up since the economic crash. As of this month, chartered surveyors carrying out “Red Book” valuations in Ireland must join the Valuer Registration Scheme, writes Eloise Heron
Four daughters of the late Tim Mahony, founding chairman of Toyota Ireland, have bought a high-profile office investment in Dublin’s IFSC for just over €15 million
Even small improvements in the physical environment of a workplace can reap significant benefits in terms of productivity, says Eloise Heron.