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€900,000

Unit 2A The Atrium, Blackpool, T23 T2VY, Co. Cork

497m2

Investment Property

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Property Overview

  • Available From: Immediately

Description

  • Sale Type: For Sale by Private Treaty
  • Overall Floor Area: 497m2
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The property comprises a modern third generation office suite on the second floor of The Atrium Building. Internally the offices are laid out to a high standard with attractive reception area, a series of meeting rooms, open plan office areas, a boardroom, IT/Comms room with a fully fitted canteen area and toilets. Communal areas including lift lobbies and circulation area's presented in a very modern way with the benefit of superb natural lighting filling the communal atrium area. Total floor area extends to approx. 497 sqm (5,346 sqft).   High Specification Fit Out - Fully Air Conditioned - Raised access floors (wired for power and data) - Suspended ceilings with recessed light fittings - Board Room - Reception - Kitchenette/Canteen - Meeting Room x 2 - Offices x 3 - Cat 5e cabling - Modular/flexible layout to suit different customer types and sizes - Swipe card access, Intruder Alarms, CCTV, Recording, Monitoring - Gents & Ladies Toilets - Standby Generator on roof     Tenancy    The second-floor commercial unit is held by "Atrium facilities Management Limited" under a new 15 year lease commencing on the 1st of November 2020. The current rent is €80,000 per annum exclusive and the lease incorporates a rent review at the end of year 5 and 10 to market rent.  There is a tenant only break option on the first day of the sixth year of the term exercisable with six months advance notice in writing. The tenant is responsible for service charges, insurance, and rates. 6 parking spaces in the adjacent multi-storey carpark form part of the tenancy.   Features A prime suburban office investment (tenants not affected). Located in the successful and high-quality environment of the Blackpool Business & Retail Park Let to Atrium Facilities Management Limited Second Floor office suite extending to approximately 497 sqm (5,346 sqft) New 15 year lease commencing on the 1st of Nov 2020 Tenant only break option 1st November 2025 Lease expiry 1st November 2035 Current rent Eur80,000 per annum exclusive Guide Price Eur900,000 reflecting a net initial yield of 8.09% Location Located just off the N20, the property is situated approx. 2.5km north of Cork City centre. The office suite is within The Atrium building which forms part of the successful Blackpool Business and Retail Park. Blackpool is the premier business destination on the northern side of Cork City. The Business Park comprises a major development of high specification third generation offices. The main entrance to the building is from the property's north eastern end through a bright glazed entrance leading to an impressive atrium, the full building height. Neighbouring office occupiers within the subject property include AIB, Westbourne IT Global Services, Garda Síochána Ombudsman Comission and Blizzard, a gaming support centre company. Some of the main retailers in the park include Woodies DIY, Next Home, Aldi, Argos, Boots, Costa Coffee and Life Style Sport as well as Blackpool Reel Picture Cinema and Dennehy's Health & Fitness Club. The adjacent Blackpool Shopping Centre comprises multiple retailers, with Dunnes anchoring the centre with just over 6,800 sqm of retail space. The location offers employees a superb working environment convenient to all amenities as well as being in close proximity to the Mallow/Limerick N20 Routes. Blackpool is one of Cork's oldest inner city suburbs and is seen as a gateway entrance into the city given its key location on one of the primary access routes into Cork.

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BER Details

D1

BER No: 800764094

Statistics

20/01/2021

Entered/Renewed

610

Property Views

Daft ID: 53140487

Margaret Kelleher's logo
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Margaret Kelleher

Lisney (Cork)

PSR Licence Number: 001848

021 427 5079

Lisney (Cork)

Margaret Kelleher's logo
profile

Margaret Kelleher

021 427 5079
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