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BER G

What is BER?

A Building Energy Rating (BER) indicates the energy performance of a property. Using a scale of A to G, higher rated homes will have lower energy bills.

Learn more

113-115 Patrick Street & 2-5 Drawbridge Street, Cork City, Co. Cork

Price on Application SALE AGREED
Investment Property For Sale | 22,017 sq. feet (2,045 sq. metres)
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Overview

Property Description:

**SALE AGREED**

Prime Retail Investment Opportunity For Sale by Private Treaty (Eason Store Not Affected)

-Situated in a prime high footfall location on Cork's principal shopping street

-High profile building directly opposite Merchants Quay Shopping Centre and M&S

-Substantial building of approx. 2,045 sq.m. NIA

-25 year lease to Eason Limited with 10 years term certain and parent guarantee

-Attractive NIY of approx. 7% off a market rent of €500,000 p.a.

LOCATION
Cork is a vibrant city and is the retail, commercial and administrative centre for the region. Amazon, Apple and Intel are just a few of the numerous multinational companies who have located in Cork. They are also joined by companies in the bio-technology, pharmaceutical, food and business sectors.
Patrick's Street is the premier shopping location in Cork. Located in the heart of the city, it is home to premium high street brands such as Brown Thomas, Marks and Spencer, Tommy Hilfiger and Pandora. Merchants Quay Shopping Centre, Opera Lane and The Capitol are all prime retail destinations located on Patrick's Street.

The subject property is positioned in a prime location at the north end of Patrick Street within 150m of Brown Thomas, Debenhams, Merchants Quay Shopping Centre and Opera Lane shopping district. Other notable occupiers nearby include Superdry, Penneys, Schuh and Dunnes Stores. With a population in excess of 200,000 people, Cork is Ireland's second largest metropolitan areas.

THE PROPERTY
Escalators link the ground and first floor retail areas, which are also serviced by a stairs and customer lift. Access to the upper floor stockrooms/offices is also via stairs and lift.
The subject property is a substantial high-profile retail property extending to 2,045.3 sq m (22,017 sq ft) NIA incorporating 1,282.1 sq m (13,801 sq ft) of retail area over ground and first floor levels.
The property is on an L-shaped site of 0.2 acres with significant frontage of 20 meters to Patrick Street and secondary frontage of 22 meters to Drawbridge Street.

Internally the ground and first floor retail areas are open plan and underwent major refurbishment in 2013, to include a new fully glazed Patrick Street faéžade. The modern Eason's store is laid out to provide books, magazines at ground floor and stationary and gifts on the first floor. Insomnia occupy the Drawbridge portion of the first floor providing additional footfall to the store.

*SALES PARTICULARS
The property is being offered on the basis of Sale and Leaseback via a Private Treaty process. Price on application

*DATAROOM
Further details pertaining to the sale are contained within a secure data room. Please log onto www.easonscork.com to register your interest.

*VIEWINGS
Viewings are strictly through the sole selling agent, Bannon. Please contact Rod Nowlan & David Carroll to arrange.

BER Details

BER G

What is BER?

A Building Energy Rating (BER) indicates the energy performance of a property. Using a scale of A to G, higher rated homes will have lower energy bills.

Learn more
What's this?

Daft Property Shortcode:

https://www.daft.ie/5842863

Date Entered/Renewed:

16/12/2019 (67 days ago)

Property Views:

659
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Map Legend:

Exact Location Match Exact location match

Address:

113-115 Patrick Street & 2-5 Drawbridge Street

Distance to City Centre:

0.4 km (0.2 miles), 5 minute walk
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113-115 Patrick Street & 2-5 Drawbridge Street, Cork City, Co. Cork