A.I.B. Liberty Square Thurles
Three provincial bank branches situated in Thurles, Co Tipperary, in Clonakillty, Co Cork and in Kilrush, Co Clare, currently leased to Allied Irish Bank (AIB), are to be offered for sale at attractive yields.
Joint agents GVA Dónal Ó Búachalla in Dublin/Belfast and Irish & European in Cork are to sell this portfolio, either on an individual property basis or in one single lot.
All buildings are currently let under 20-year leases since 2008, with break options in nine years time.
The three bank branches have all been refurbished by AIB in the past year and are regarded as being of strategic importance within the overall bank branch network.
The largest of the branches on offer, situated on the corner of O’Donovan Rossa Street and Liberty Square in Thurles, extends to 1,028sq m (11,063sq ft) and is currently producing a rent of €215,000 per annum. The guide price in this case, €2.4 million, will show an initial yield of 8.58%.
The named joint property agents state they are expecting overseas speculation, as well as local interest in these investments, because of the strong demand for the lot sizes, which have good covenants locked in to long leases.
Local authorities are currently owed over €948m in unpaid various levies, rents and charges, but have been forced to write off millions because the debts are now no longer collectable.
Local Government audited figures presented have concluded that householders and businesses owe at least €588m to City and County Councils in relation to unpaid water charges, rates, housing rents and property loans.
In addition, €360m is owed in building development levies, bringing the amounts outstanding to €948m. Councils have written off some €161m in unpaid debts because the money cannot be collected. This fact is due to companies going out of business and a poor collection performance. Local authorities have made provision to write-off two-thirds of this amount currently outstanding, which amounts to some €232m.
Some €56m is owed in unpaid housing rents, with €1.9m already written off. The lowest collection rate here is found to be in South Dublin at 74%, and the highest is in North Tipperary at 99%.
There has also been a fall in commercial water arrears, down €10m to €139m, with around €16m written off. Some 56% of businesses pay their charges, with the lowest collection rates in Leitrim at 27%, and the highest rate is in South Tipperary at 83%.
The winner of the Thurles Credit Union Members Cash Draw has been announced.
The winner of the Thurles Credit Union Members Cash Draw for February 2014 is Mr William Sweeney, latter who hails from Churchview, Littleton here in Co Tipperary.
Pictured here at the presentation are Left – Right; Mr William Sweeney (Winner) and Mr Donal Scannell (CEO Thurles Credit Union).
Congratulations also must go to the other cash prize winners; Kathleen Long, Togher Road, Urlingford, Co Kilkenny; James & Aileen Dunne, Abbey Road, Thurles, Co Tipperary and Mary Ryan, Gortnahoe, Thurles, Co Tipperary.
Remember whether you are saving for something in the future or just for that ‘rainy day’, regular saving is a very good idea.
Regular saving with Thurles Credit Union is an even better idea, for at Thurles Credit Union, you are not just a customer, you are a member of a successful Financial Co-Operative movement.
Why not join in this success today?
Roscrea native, Mr Anthony Glynn, together with business partner and Athlone native Mr James Sherlock, are amongst 3 business finalists shortlisted for the 2014 David Manley Emerging Entrepreneur Awards, sponsored by Dublin Chamber of Commerce and Ulster Bank.
Their product, “Dunk-E,” enables people to manufacture their own electricity and was originally conceived by Mr Glynn while researching Water Turbine Technology, as part of his studies here at the Tipperary/Limerick Institute of Technology (LIT), Thurles.
As part of his research, Anthony found that there were major issues with current technologies in providing rural communities with electricity, leading to his conclusion that off-grid micro generation remains the only feasible option. To this end he designed the original concept for his “Dunk-E,” latter a novel, patent-pending hydro turbine device that produces substantial electricity from the natural flow of water in small rivers, streams, weirs and sluice gates. This device will also provide users with exceptional long term value for money.
With over 9 years experience in the Renewable Energy Sector as well as having set up and run his own business, Mr Glynn has set up Ár-nuaTec, together with Mr Sherlock, to produce and market “Dunk-E,” using this product’s four main focused marketing factors:- Energy Savings; Upfront Costs; Payback Period and Warranty.
Anthony and James have now identified a minimum of 4 million potential micro hydro sites worldwide and hold advanced orders of over €150,000 during 2014 here at home, with orders worth over €250,000 for the Asian market in 2015.
The overall winner in the 2014 David Manley Emerging Entrepreneur Awards will be announced at a ceremony in the offices of Mason, Hayes and Curran on Thursday, January 30th 2014.
The winner will receive a prize package worth over €100,000, comprising of €10,000 in cash together with consultancy services and mentoring from a range of professional support companies.
In 2008, it was Mr John McGuinness TD, once Social Protection.’
The recipient of our letter is a male aged 21 years, holding recognised University qualifications, who unfortunately like so many Irish born individuals is currently in receipt of €100 weekly, as an unemployed person residing in the State. To retain issues of privacy we now refer to this individual as Pat.
Pat has to the complete satisfaction of an accountant, supplied full documentation in every respect to The Department of Social Protection, from which he currently receives his assistance here in Tipperary. Since October last Pat has only been employed for an eight weeks contract, on a minimum wage for 18 hours per week, to enable the setting up of a new retail business venture. His employer has made full returns to Revenue as required at years end, the true facts therein, thus generating this nonsense and lazy double check.
Implications In The Coming Weeks For Small Business & Thousands Of Unemployed
The document shown above was posted in Dublin city yesterday, postmarked 23/1/2014, at a cost to the taxpayer of €0.60 and received mid-day today. According to the date on the content of this communication, it obviously lay in an ‘Out Tray’ on some public servants desk for five days, before someone ran it through a franking machine and dropped it in a post bag.
Note: According to a female public servant at the Tipperary Social Protection Office and who refused to check Pats file, she claims that thousands of these letters have been already posted or are about to be posted to recently unemployed people, over the coming weeks. Same must be completed by employers supplying all necessary documentation sought.
The text of this letter states; “The Department of Social Protection has been notified by the Revenue Commissioners that, according to their records, you are working /having worked for/received a pension from ….
(a) Click on picture above for larger image and note that 3rd line of page one, names the last employer, and now blacked out.
(b) Part one, on page two, require the employer to confirm remuneration details paid to short contract employees, confirming details already supplied in many cases to Social Protection on termination of this contracted employment, thus doubling the workload on these employers.
(c) Since the original communication was delayed some six days prior to issue, based on the date shown on the letter, unemployed persons now have only 6 working days to respond to Social Protections request. Pat has been informed by his last employer that he must wait until time permits their accounting officials locate and copy payslips and time sheets.
(d) From our unemployed man’s point of view, who has already confirmed all of this information, two other issues now arise;
- Will he be cut his €100 if his previous employer fails to provide yet again this required information on time?
- Will he have enough money to attend an interview in Kildare in 12 days time for which he must expend €50 of his unemployment income in travel expenses, to attend?
(e) Since, as stated, Pat is aged 21 and has only worked six weeks in his entire life, how could he be accused of being in receipt of a pension?
One cannot feel but genuine sympathy for the Minister for Public Expenditure and Reform, Mr Brendan Howlin and Minister of State, latter with responsibility for Public Service Reform, Mr Brian Hayes, as they both now attempt to implement overdue reform on a specially protected and over paid organisation controlled by unions who in turn protect deliberate daily incompetence, latter which is begun at the highest level and is silently sanctioned by other servile supervisors through the downward chain of command.
We invite your comments please.