Details
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Property Summary
  • A prominent office investment.
  • Comprising two adjoining office buildings and a car park to rear.
  • Offices extending to approximately 1,439 sq. m (15,489 sq. ft) in total.
  • No. 31 let to Cork Education and Training Board.
  • Lease expiry 2018.
  • Second and Third floor of No. 32 let to an individual.
  • Remainder No. 32 vacant.
  • 24 x surface car park spaces let on monthly tenancies.
  • Potential for development in the rear car park (subject to obtaining all necessary consents).
  • Total current rent reserved €90,800 per annum with vacant possession of 3 x storeys of office accommodation.
Location
  • Cork is the second largest city in Ireland with a population of some 198,000 people (as of the 2011 Census).
  • The city is located approximately 119km south west of Waterford, and approximately 95km south of Limerick.
  • The M8 is situated approximately 7km to the east of the city centre and provides access to Dublin and the north east.
  • The property is situated on South Terrace, at its junction with Cotters Street.
  • Surrounding occupiers include South Terrace Pharmacy, Ramen and City General Hospital.
Description

The property is arranged to provide two x adjoining office buildings. Internally the property comprises four floors of office space and a surface car park.

VAT
Please refer to the legal documents.
Accommodation & Tenancies
No Present Lessee Accommodation Sq.m (Sq.Ft) Lease Terms Current Rent Reserved € p.a.
    Total 1,439 sq. m (15,489 sq. ft)     €90,800 p.a.
31 Cork Education and Training Board  Office 720 sq. m (7,750 sq. ft)

1 year from 01.12.2017

FRI terms

€55,000 p.a.
32 Basement Vacant Office 159 sq. m (1,711 sq. ft) - -
32 Ground Vacant Office 163 sq. m (1,755 sq. ft) - -
32 First Vacant Office 163 sq. m (1,755 sq. ft) - -
32 Second An individual t/a Carr Cotter & Naessens & Co Architects Office 141 sq. m (1,518 sq. ft) Informal tenancy €12,000 p.a.
32 Third An individual t/a Carr Cotter & Naessens & Co Architects Office 93 sq. m (1,001 sq. ft) As above -
24 Car Spaces -Various indiviudals  24 x Car Park Spaces     Indiviudal Monthly tenancies €23,800 p.a.


No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.

BIDDING HAS CLOSED
Sold for €1,100,000
Bid History 1
Bidder Amount Date
Bidder 12875 €1,100,000 28/02/2018 11:06:47
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Useful links
Property Enquiries
Will Lyons
will.lyons@bidx1.com
021 4943955
Property Enquiries
Thomas O'Dowd
thomas.odowd@bidx1.com
+353 (0)1 667 3388
Vendor Solicitor
Rose Brogan
rbrogan@mlpowell.com

Messrs Michael Powell Solicitors

Tel: +353 (0)21 427 0451.

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