NAMA to sell €3.5 billion of loans and property assets

NAMA, having already agreed the sale of its Northern Ireland portfolio, is selling more than €3.5 billion worth of loans and property assets in the Republic which includes Project Redwood, a €200 million portfolio of commercial assets in Dublin.

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NTMA to hold Bond Auction on 8th May

The National Treasury Management Agency (NTMA), which manages the national debt, announces that it will hold a bond auction tomorrow, 8th May. The auction will be conducted on the Bloomberg Auction System and will be confined to recognised primary dealers. A non-competitive auction for 15 per cent of the amount sold in the competitive auction will immediately follow and will close at 10:00 am on Friday 9 May.

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Retail Ireland urges Government to cut income tax

Retail Ireland, the national representative body for the entire retail sector, in advance of a conference in Dublin today, has called on the Government to cut income taxes, promote better regulation for the sector and do nothing to add to business costs and claimed that the sector has the potential of creating 40,000 new jobs in the sector in coming years.

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Ikea’s plan for ‘flagship’ store in Cherrywood will not proceed

Ikea , the Swedish household goods multiple, will not be permitted to proceed with its plans for a new 35,000sq m “flagship” store in the Cherrywood area of south Co Dublin. Depending on the outcome of a joint study by the council, the NRA and the National Transport Authority , the council could “at some stage in the future” vary the planning scheme for Cherrywood by including provision for a “large-scale retail warehouse”.

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€130m for Nama Acorn Portfolio

Joint agents Bannon and JLL have been appointed to handle the first single lot sale of a NAMA shopping portfolio comprising Blackpool Shopping Centre and Retail Park in Cork, Millfields, Balbriggan, Co Dublin and The Showgrounds, Clonmel, Co Tipperary, at a guide price of more than €130 million. At that valuation, the portfolio will show an initial yield of about 9.6 per cent.

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Ernst and Young to create almost 500 new jobs in Belfast

Accountancy and consultancy firm Ernst and Young, known as EY, is to expand its operation in Belfast with creation of nearly 500 new jobs. EY which already employs 1,450 people across its five offices in the Republic and Northern Ireland, said the 486 new roles which will be phased in over the next four years would be in various business consultancy fields, including auditing. These new jobs will contribute £19 million in salaries to the local economy.

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Summary of “The Commercial Property Review & Outlook 2014”

A Summary of the Commercial Property Review & Outlook 2014 published by the Society of Chartered Surveyors Ireland (SCSI), which reveals the office sector in Dublin is leading the way in the Irish Commercial Property Market.

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Two restaurants on high-profile sites for sale at fraction of original cost

Two fully glazed stand-alone restaurants on high-profile sites along the river Liffey campshires at North Wall Quay in Dublin 1 are to be offered for sale by tender at a fraction of their original cost.

There is a guiding price of €350,000 for the J2 Grill & Sushi building and €400,000 for the slightly larger single-storey premises close by that currently is vacant.

David Carroll of Bannon advised two of the purchasers.

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More good News for Dublin’s Office Market

Airbnb, the world’s leading community-driven hospitality company, last Friday marked the official opening of its new Dublin office with Taoiseach Enda Kenny T.D. announcing the creation of an additional 100 new roles which increases to 200 new roles in Dublin.

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Modern Retail Warehouse Park Units in Carlow for Let

Modern, purpose-built Retail Warehouse Park, Barrow Valley Retail Park is available for Let on new leases. It is a high profile location with over 500 metres frontage to the N80 Northern Relief Road. Easily accessible, convenient location 2km from Carlow Town Centre, which has a population of 23,030.