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BER C3

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

26 Washington Street, Cork City, Co. Cork

€695,000
Investment Property For Sale | 2,698 sq. feet (251 sq. metres)
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Overview

Property Description:

ERA Downey McCarthy are delighted to launch to the market this easily managed investment property occupying a prominent position on one Cork city centre's busiest thoroughfares.
LOCATION
Washington Street forms one of Cork city centre€TM main thoroughfares. It links Grand Parade with the Western Road, U.C.C. and onwards to the N40. As well as being the location of Cork Court House and numerous legal practices, it also plays host to some of the city€TM better-known food and beverage outlets. As a result, it enjoys a high volume of both pedestrian and vehicular traffic.
No. 26 is situated on the north side of Washington Street, between its junctions with Courthouse Street and Anne Street. This is a well-established retail location with a commercial and residential mix at upper floor levels. Access to the upper floors of the subject property is via James Street, which runs to the north of, and roughly parallel with Washington Street.
Occupying such a central location ensures this property will remain of strong interest to the investor market.

DESCRIPTION
No.26 is an easily managed investment property currently producing a total annual rent of €71,520. It comprises a three storey, mid-terrace building with converted dormer and two storey extension to rear. The entire is of traditional construction with a typical shop front to its ground floor and a red brick faé§ade over. It has pitched, slate covered roof sections and traditional timber framed sash windows to its upper floors.
Internally the building is laid out as ground floor fast-food take-away unit with part storage at first floor level and a 5-bedroom residential unit at first, second and dormer levels. The retail unit is fitted out as a modern take-away complete with service counter. The residential unit is accessed via a separate entrance from James Street and accommodates a kitchen, living room, 2 x w.c., 2 x shower rooms and 5 bedrooms.

Features
Attractive central location
Permission for use as take-away restaurant
Easily managed investment property
Currently producing €71,520 p.a.
Reversionary potential
N.I.Y 9.49%

TENANCIES
€¢ The ground floor take-away restaurant and part first floor storage area are occupied by D P Realty Ltd. under a 19-year agreement from 27th March 2002 at a present rent of €48,504 p.a.
€¢ The residential element is occupied under a 12-month standard residential tenancy agreement from 1st October 2018 at a present rent of €23,016 p.a.

Floor Type Sq.M. Sq.Ft.
Ground Take-away pizza restaurant 77.94 838.9

First Part retail storage 42.39 456.3

First Part residential 43.09 463.8

Second Residential 43.62 469.5

Dormer Residential 43.62 469.5

Total 250.66 2,698.0

BER Details

BER C3

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?
BER No 800697187
Energy Performance Indicator: 435.74 kWh/m2/yr

Daft Property Shortcode:

https://www.daft.ie/5848564

Date Entered/Renewed:

26/9/2019 (23 days ago)

Property Views:

903
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Map Legend:

Exact Location Match Exact location match

Address:

26 Washington Street

Distance to City Centre:

0.9 km (0.6 miles), 10 minute walk
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26 Washington Street, Cork City, Co. Cork