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Irish Examiner
09-07-2025
- Business
- Irish Examiner
21-acre land parcel in Limerick fetches over €18,000 an acre at auction
The Limerick office of GVM Auctioneers reported another successful agricultural land auction last week. The sale took place of a 21-acre holding at Robertstown, Shanagolden, Co Limerick. at GVM's auction rooms in central Limerick City, on July 2, with Tom Crosse wielding the gavel. This was a hybrid auction, with bids also coming in online via Between online bidders and bidders present, there were five participants in all. The property was a prime piece of Golden Vale grassland, with 75m of road frontage, south of the N69, 3km southeast of Foynes and 30km west of Limerick City. 'The holding is flat in nature and of good quality,' said Mr Crosse. 'It's set out in permanent pasture and is ideal for all types of farming use.' Bidding opened at €210,000. The property was formally placed on the market at €310,000. Several bids later, the gavel fell on a price of €382,000, or €18,100/acre. Tom Crosse was delighted with the price obtained, saying it 'far exceeded the anticipated selling price… The end bidder was online and bought in trust, we believe, on behalf of a local farmer.' Mr Crosse further added the Adare/Foynes bypass was now beginning to positively influence local land prices, as affected landowners endeavour to replace parcels they have lost to accommodate the new roads. Read More Almost €16k/acre expected for quality 48a East Cork farm
The Journal
27-06-2025
- Business
- The Journal
Bewley's seek rent reduction for iconic Grafton St outlet from Johnny Ronan company at High Court
BEWLEY'S CAFE AND a company owned by property developer Johnny Ronan have gone to the High Court in a row over €747,000 per year rent for the iconic Grafton Street outlet. Mr Ronan's RGRE Grafton Limited has stated that the rent should actually be €1 million while a valuer called by the famous coffee company says it should be €518,000. The High Court has heard that prior to October last year, Bewley's had been paying €1.46 million for the same premises but that figure was reduced following a rental valuation by the Circuit Court. The High Court appeal was taken by Bewley's Café Grafton Street Ltd (BCGSL) through Beauchamps solicitors, led by Simon Murphy, against the rent granted to RGRE Grafton Limited, which owns the building located at 78-79 Grafton Street, Dublin 2. RGRE Grafton have cross-appealed the decision. The difference between the two sides' figures over a five-year rental period amounts to over €2.5M. The case centres on the methods behind the valuations of both sides. The court has been told that BCGSL held the lease on the building from 1987 for 35 years, a deal that expired in August 2022. BCGSL then received a new tenancy under Part II of the Landlord and Tenant (Amendment) Act 1980. In October, the café had its annual rent cut in half following a ruling by Judge Jennifer O'Brien, who ruled it should have to pay a rent of more than €738,000 per year. That figure was later adjusted to €747K – still a 50% drop to the previous €1.46 million being paid. The Circuit Court found that this fairly represented what a willing tenant would pay and a willing landlord would take for the premises as of August 2022 over a five-year lease term and that BCGSL was entitled to almost €1M for rent paid since the expiry of the previous lease. Advertisement Both sides are appealing the decision of the Circuit Court. Fergus Crosse, an expert valuer retained by BCGSL, has told the High Court that improvements to the Bewley's building made by BCGSL also meant that the gross rent should be reduced. Mr Crosse is of the opinion that the statutory rental value of the property is €518K. David Potter, a valuer with Savills, was retained by RGRE Grafton. He said the statutory rent should be €1M per annum. Mr Crosse told Mr David Whelan SC, for BCGLS, that he employed a 'zoning' of arrears of the floor space at the café which meant that Zone A, closest to the entrance, would be the most valuable. Each tranche of zones was measured at 20 feet from the entry. Mr Crosse said he used comparator properties on Grafton Street in his analysis and that Zone B would be valued at 50% of Zone A and that Zone C would be valued at 50% of Zone B. Mr Potter said that an 'overall' view was more effective in determining the rent and that the use of the zoning model in this case led to a 'misvaluation'. Mr Potter said that the use of the zoning model meant that the restaurant floor space far from the door was now valued at a lower rate by Mr Crosse which 'undervalued' the restaurant area. 'Bewley's space at the back is big money, it's the main restaurant,' said Mr Potter. 'It can't be valued as if it is the cheapest, worst space. Zoning undervalues it significantly, as if the rear is ancillary, but it is not – it is a really attractive restaurant,' he said. Mr Potter said that a valuation of €24 per square foot of the restaurant area while the staff room in nearby McDonald's restaurant was valued at €60 per square foot amounted to a 'fundamental misvaluation'. Mr Potter said he was valuing the property as a restaurant and not a restaurant-retail use agreement and said that Dublin City Council previously gave an opinion that it would prefer the use of Bewley's to be maintained as a restaurant and not a retail outlet. The case continues before Ms Justice Sara Phelan. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
Irish Independent
27-06-2025
- Business
- Irish Independent
Bewley's Cafe and landlord Johnny Ronan in fresh court battle over rent
Mr Ronan's RGRE Grafton Limited has stated that the rent should actually be €1 m while a valuer called by the famous coffee company says it should be €518,000. The High Court has heard that prior to October last year, Bewley's had been paying €1.46 m for the same premises but that figure was reduced following a rental valuation by the Circuit Court. The High Court appeal was taken by Bewley's Café Grafton Street Ltd (BCGSL) through Beauchamps solicitors, led by Simon Murphy, against the rent granted to RGRE Grafton Limited, which owns the building located at 78-79 Grafton Street, Dublin 2. RGRE Grafton have cross-appealed the decision. The difference between the two sides' figures over a five-year rental period amounts to over €2.5M. The case centres on the methods behind the valuations of both sides. The court has been told that BCGSL held the lease on the building from 1987 for 35 years, a deal that expired in August 2022. BCGSL then received a new tenancy under Part II of the Landlord and Tenant (Amendment) Act 1980. In October, the café had its annual rent cut in half following a ruling by Judge Jennifer O'Brien, who ruled it should have to pay a rent of more than €738,000 per year. That figure was later adjusted to €747K - still a 50% drop to the previous €1.46 m being paid. The Circuit Court found that this fairly represented what a willing tenant would pay and a willing landlord would take for the premises as of August 2022 over a five-year lease term and that BCGSL was entitled to almost €1M for rent paid since the expiry of the previous lease. Both sides are appealing the decision of the Circuit Court. Fergus Crosse, an expert valuer retained by BCGSL, has told the High Court that improvements to the Bewley's building made by BCGSL also meant that the gross rent should be reduced. Mr Crosse is of the opinion that the statutory rental value of the property is €518K. David Potter, a valuer with Savills, was retained by RGRE Grafton. He said the statutory rent should be €1M per annum. Mr Crosse told Mr David Whelan SC, for BCGLS, that he employed a 'zoning' of arrears of the floor space at the café which meant that Zone A, closest to the entrance, would be the most valuable. Each tranche of zones was measured at 20 feet from the entry. Mr Crosse said he used comparator properties on Grafton Street in his analysis and that Zone B would be valued at 50% of Zone A and that Zone C would be valued at 50% of Zone B. Mr Potter said that an 'overall' view was more effective in determining the rent and that the use of the zoning model in this case led to a 'misvaluation'. Mr Potter said that the use of the zoning model meant that the restaurant floor space far from the door was now valued at a lower rate by Mr Crosse which "undervalued" the restaurant area. 'Bewley's space at the back is big money, it's the main restaurant,' said Mr Potter. 'It can't be valued as if it is the cheapest, worst space. Zoning undervalues it significantly, as if the rear is ancillary, but it is not - it is a really attractive restaurant,' he said. Mr Potter said that a valuation of €24 per square foot of the restaurant area while the staff room in nearby McDonald's restaurant was valued at €60 per square foot amounted to a 'fundamental misvaluation'. Mr Potter said he was valuing the property as a restaurant and not a restaurant-retail use agreement and said that Dublin City Council previously gave an opinion that it would prefer the use of Bewley's to be maintained as a restaurant and not a retail outlet. The case continues before Ms Justice Sara Phelan.
Irish Examiner
28-04-2025
- Business
- Irish Examiner
Limerick farm fetches €17,000/acre at auction
Limerick-based auctioneers GVM Property had another successful auction last week with a 30-acre property at Ballyshane, Newcastlewest, Co Limerick. This is a part of the Golden Vale that has been much coveted over the last number of years, and the size of this holding meant that there was always likely to be a wide range of potential suitors. The auction was a 'hybrid' type, with bids coming live from the floor, as well as from online bidders. The property was described by auctioneer Tom Crosse as a compact parcel of land of medium quality located near the village of Monagea and on the road linking Monagea and Newcastle West. Significantly, the property included a derelict house — an element that draws a lot of attention these days with such a severe shortage of housing. 'Part of the land requires drainage,' Mr Crosse added, 'And there's good road frontage.' In all, there were eight bidders lining up on the day. Three of them were pre-registered online bidders, with five more bidders going the traditional route of being present on the floor. The bidding opened at €350,000 and after a number of bids, the farm was placed on the market at €475,000 (€16,000/acre). Bidding continued until the gavel fell at €510,000 (€17,000/acre) to a buyer believed to be a local farmer. Commenting immediately after the auction, Tom said that the price 'reflects the continuing and excellent demand for land". Unsurprisingly, the bidders on the day were a mixture of farmers and business people. Read More A solicitor's tips for a smooth land sale
Yahoo
27-03-2025
- Yahoo
Wisconsin pursuit, crash into cemetery; driver arrested for OWI
The Brief A Wisconsin man was arrested for OWI after a pursuit and crash into a cemetery. Multiple agencies reported a car driving at "dangerous speeds" before the chase. If convicted, police said it would be the 27-year-old man's third OWI offense. MONONA, Wis. - A Wisconsin man was arrested for operating while intoxicated after he led officers on a chase and crashed into a cemetery early Wednesday morning, March 26. What they're saying Shortly after 2 a.m., an officer spotted a silver car speeding with no headlights on Highway 12. Multiple police agencies ultimately reported a car driving at "dangerous speeds" along the highway. One report estimated the car was driving around 110 mph as it headed toward Monona from Madison. FREE DOWNLOAD: Get breaking news alerts in the FOX LOCAL Mobile app for iOS or Android Monona police officers tried to pull the car over as it re-entered the city, but the driver refused to stop – sparking a pursuit. As efforts to stop the driver unfolded, the car was spotted on Marsh Road southbound in McFarland where it failed to negotiate a turn, left the roadway and crashed into a cemetery where it hit multiple headstones. The driver, who police identified as 27-year-old Rojae Crosse of Sun Prairie, got out and ran. Officers set up a perimeter, found Crosse nearby and took him into custody. A deputy was injured while trying to take Crosse into custody. While in custody, Monona police said Crosse refused to cooperate and made multiple threats to harm and kill the officers. It was in assessing Crosse that officers noted signs of impairment. Crosse was processed for OWI and taken to a hospital as a precaution. An evidentiary blood sample was sent for testing, the results of which are pending. SIGN UP TODAY: Get daily headlines, breaking news emails from FOX6 News If convicted, police said it would be Crosse's third OWI offense. He was also arrested for felony eluding, threats to law enforcement and misdemeanor resisting an officer. McFarland police conducted the crash investigation. The Source Information in this report is from the Monona Police Department.
