Lot 11 92 Grand Parade, Cork City, Co. Cork, T12 K038

Bidding Closed

SOLD FOR

€450,000

Property Enquiries

Richard Hoey

richard.hoey@bidx1.com
+353 (0)1 566 8370
+353 (0)85 804 8210

Viewing/ Registration Enquiries

BidX1 Support Team

info@ie.bidx1.com
+353 (0) 1 667 3388

Vendor Solicitor

Orla O'Connell

orla@murraysolicitorscork.ie
+353 (0)21 493 7000
Description
Map
Viewings

Property Summary
  • A prime mixed used investment.
  • Comprising ground floor retail unit together with ancillary accommodation overhead.
  • Extending to approximately 238 sq m (2,562 sq ft).
  • The entire is let to City Centre Catering Limited t/a O'Briens Sandwich Café. 
  • Lease expiry 2031.
  • Established prime retail location with high volume of footfall.
  • Total current rent reserved €45,000 per annum. 
  • Net Initial Yield 9.09%
Location
  • Cork is the second largest city in Ireland with a population of some 210,000 people (as of the 2016 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 centrally located on Grand Parade.
  • The area has significant footfall with neighbouring occupiers including Cornmarket Shopping Centre, Lidl, Rising Sons Brewery, McDonalds to name but a few.
Description

The property is arranged over ground and three upper floors to provide a mid-terrace mixed use building. Internally the property comprises a ground floor cafe together with three storeys of ancillary accommodation overhead. 

Total floor area extending to approximately 238 sq m (2,562 sq ft)

All intending purchasers are advised to satisfy themselves as to the accuracy of the measurements provided.

Accommodation

Tenancy

The entire property is at present let to City Centre Catering Limited t/a O'Briens Sandwich Café for a term of 10 years from 1st June 2021 at a contractual rent of €45,000 per annum, exclusive of rates and VAT with 5 yearly rent reviews.  

VAT
Please refer to Legal Documents
BER
Number

800112534

Energy Performance Indicator

514.33 kWh/m²/yr


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.


Contact Richard about this property