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10% levy on concrete blocks will affect us all

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By Sean Moriarty

Last week’s budget was fairly underwhelming for most ordinary workers and apart from the fuel concessions, it offered very little to most people.

But when a Government gives with one hand it takes away with the other.

The most alarming “new tax’ is the concrete block levy aimed to offset the cost of the Mica redress scheme.

Hold on one minute - why should the country pay for the unscrupulous actions of builders and quarry owners? Where is the insurance and bond scheme? But, just like the banks 15 years ago and the PMPA insurance bailout of around 25 years ago, we all have to pay while those closer to Government are not held accountable for their actions.

It is estimated that the 10% levy on concrete blocks will add between €2,000 and €4,000 to the cost of a new build. That is so unfair on any person toiling away in an effort to raise funds to buy or build a house.

This very selfish decision by the Government will affect us all not just nationally, but locally too.

Many of Killarney’s promised publicly funded projects got a lot more expensive overnight.

All three secondary schools and some primary schools are in line for extensions and it is ultimately the parents who will have to pay for this extra cost.

The much-promised Killarney Cycleway project will need a lot of concrete to complete it but nothing in comparison to the amount of cement products that will be required for the Farranfore to Killarney new road scheme - if it ever gets off the ground.

Don’t be surprised if many of these Government-supported projects get shelved because they will simply be too expensive to complete thanks to a Government-supported tax scheme. You could not make it up!

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Paralympic legend Jason Smyth visits St Brendan’s

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Paralympic legend Jason Smyth visits St Brendan’s


World renowned Paralympian and world record holder Jason Smyth paid a visit to St Brendan’s College on Wednesday afternoon as part of a high profile visit to Killarney.


The six time Paralympic gold medallist spoke to second year students from St Brendan’s College, alongside students from neighbouring schools St Brigid’s Presentation Secondary School and Killarney Community College.
The interactive talk and interview took place ahead of World Sight Day, with the legendary sprinter sharing his personal journey with Stargardt disease, a genetic eye condition that left him legally blind at eight years old.
The Derry native, who holds the world record as the fastest Paralympian on earth over 100 metres, offered inspiring insights into overcoming physical adversity and achieving success at the highest level of world sport.
The school visit formed the opening leg of his Killarney schedule before he took centre stage later on Wednesday evening at The Killarney Plaza Hotel & Spa.
Smyth headlined An Evening with Paralympian Jason Smyth, an event organised by the Killarney Chamber of Tourism and Commerce as part of its winter schedule, sponsored by AIB.

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Deerpark Retail Park placed on market for fifteen million euro

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Deerpark Retail Park in Killarney has officially been placed on the market with a guide price in excess of 15.4 million euro, excluding VAT.

International real estate firm Cushman & Wakefield has been appointed as the sole sales agent to handle the high-profile commercial property sale on behalf of its current owner, Investcorp.

Investcorp, a global investment management firm headquartered in Bahrain, had previously acquired the prominent shopping complex.


The sale represents one of the largest commercial property offerings to launch in County Kerry this year.

Located roughly 1.3 kilometres west of Killarney town centre, the scheme enjoys strong regional connectivity and sits adjacent to independently owned operations including a Tesco Extra store, a Tesco petrol filling station, JYSK, and Aldi.


Constructed in 2006, the development extends across approximately 10,482 square metres, or 112,835 square feet.

The scheme comprises a mix of modern retail warehouse units and a complementary neighbourhood centre, offering 13 individual units in total with Part Open and Part Bulky Use planning permission.

The units range in size from 94.6 square metres up to 1,994.9 square metres. Visitors have access to approximately 248 customer parking spaces across the commercial grounds.

The park is currently 100 per cent occupied by a strong line-up of established national and international brands.

Key retail tenants include Marks & Spencer, Boots, DID Electrical, Maxi Zoo, and Mountain Warehouse.

The neighbourhood centre element accommodates service and convenience operators such as Costa Coffee, Card Factory, and Salon B.

The first-floor accommodation is fully let to Peak Performance Academy, which provides additional rental diversification.

Additionally, the scheme benefits from an agreement with Tesla to operate eight electric vehicle charging bays within the customer car park.


Commercial figures show that the property generates a total current rental income of 1,326,458 euro per annum, with a weighted average unexpired lease term of 4.45 years to break options and 6.46 years to lease expiry.

Cushman & Wakefield noted that the quoted guide price of 15.4 million euro reflects a net initial yield of 7.83 per cent, assuming standard purchaser costs of 9.96 per cent.

The selling agents highlighted that the fully occupied asset offers investors an attractive income profile alongside scope for additional income generation through parking commercialisation.

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