Tesco Express, Brewery Quarter, South Main Street, Cork City Centre

The property comprises a modern ground floor self-contained retail unit extending to a gross internal area of 5,708 sq ft. If forms part of the Lee Point 420-bed student accommodation complex. Internally the property is fitted out as a convenience store and trading as Tesco Express. There is a large newly developed public plaza area directly in front of the property. Location Cork, with a population of 222,000 people is the Republic of Ireland's second largest city and is the premier commercial, retail, administrative and educational centre in the south. Cork has an excellent infrastructure and is easily accessed through a principal port and an international airport. Cork railway station offers daily services to all major cities throughout the country, and hourly trains to Dublin. Major employers in Cork include Apple, Amazon, Dell EMC, Pfizer, Boston Scientific and PepsiCo. Cork is a university city with a student population of approximately 35,000 people. The property is situated in a prime city centre location on the west side of South Main Street. It forms part of the overall Brewery Quarter Development which includes a 420-bedroom student accommodation complex, (Lee Point) the iconic Counting House mixed use scheme which extends to 90,000 sq ft and offers LEED accredited Grade A office space, retail and hospitality uses, and the proposed 6,000-capacity Cork Event Centre. Lease Details Tenant: Tesco Ireland Limited Term: 20-year lease from 8th September 2023. Rent: '¬142,700 per annum Rent Review: Every five years in accordance with increase decrease in CPI with a cap of 3% and a collar of -1% Break date: 8th September 2033 subject to 6 months prior written notice (personal to Tesco) Covenant Tesco employs more than 13,000 people in Ireland and operates across approximately 170 stores. It is one the country's largest retailers by market share, currently holding 22.8% of the grocery market. (Kantar Worldpanel, March 2024). Tesco Ireland Limited recorded increased sales of '¬2.98bn in the year to February 2023, compared with sales of '¬2.84bn in 2022 representing a year-on-year growth of 4.8%. The company opened 13 new outlets during the financial period including four new Express stores and nine stores in Galway following the purchase of the Joyce Group. Joint Selling Agents: CBRE www.cbre.ie Contact Brian Edwards Phone: 0871653908