Re: Re: well what about the developments popping up in the shannonside ?
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A public amenity and commercially run?
The development will consist of 4,215 sq m gross floor-space, over 4 no. levels (from River Level to Second Floor Level) at its highest, and will comprise:
- Boat club and store (591 sq m);
- Cafe, including an ancillary kitchen and seating areas (330 sq m)
- Restaurant (497 sq m);
- Civic space (429 sq m);
- Office floor space (1913 sq m);
- Staff area (20 sq m);
- Ancillary space (435 sq m).
I wonder what type of tenants has Fordmount Developments in mind for them to realistically see a return on investment, in the form of rent to justify spending â‚¬20 million there.
Firstly they will receive no rental income from the Limerick Boat Club.
There was talk of the Tourist Information Office acquiring space there. Especially they will have to move when Arthurâ€™s Quay gets redeveloped as proposed. They would attract footfall in the form of visitors. Being a public service they also operate commercially a craft shop and also act as booking agents for accommodation, ferries etc.
Is the Dolmen art gallery still open? If so they would also have to relocate from Honanâ€™s Quay. Would their commissions be adequate enough to operate there?
A top quality cafÃ© / bistro on one floor and a top quality restaurant on another floor should do well. Ample glass front views of the river facing the west.
Pity that the School of Architecture, has intentions of basing its â€œcity centre wingâ€ on Kings Island. It would have been interesting to have seen them taking up the office floor space (1913 sq m) here. On the other hand, that would equate to half of the building space. I think UL would prefer investing â‚¬10 million towards a new college building than renting one to that value?
Rent out space to the city council for a new city library, guaranteed money packet for as long as he wants.