Digital Sale
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78 St. Patrick's Street, Cork City, Co. Cork, T12 KW82

Digital Sale
Ireland
Retail
Commercial

Sold

Sold for €1,186,000

Property Summary

  • Excellent retail investment opportunity
  • Fully let and occupied by Eircom Ireland t/a Eir
  • 5 year lease term with over 3.5 years remaining
  • Passing rent €95,000 p.a.
  • NIY of 9.6%
  • Located on Cork's premier shopping street, St. Patrick's Street
  • Entire building extends to approx. 2,832 sq ft (NIA)
  • Tenant not affected

Contact Us

Johnny O'Connor
Johnny O'Connor
Property Agent, here to help.
Louis McCarthy
Vendor's Solicitor

Contact Us

Johnny O'Connor
Johnny O'Connor
Property Agent, here to help.
Louis McCarthy
Vendor's Solicitor

Downloads

Property description

No 78 St. Patrick's Street offers an excellent retail investment opportunity with strong annual rental income and covenant strength.

The property is occupied by Eir, who have been open and trading throughout the lock-down restrictions paying an annual rent of €95,000.

The property comprises a three storey over ground floor, terraced building in Cork's city centre. The open planned ground floor sales area extend to a NIA of approx. 991 sq ft with the remainder currently in office, storage and ancilliary use extending to a total of 1,841 sq ft (NIA) over the three floors.

Location

The property is located in the city centre on Cork's premier shopping street, situated between the cardfactory and Carphone Warehouse.

Additional neighbouring occupiers include Life Style Sports and Burger King amongst others.

Cork City has a population of over 124,000 persons (Census 2016) and is a University City with a student population in excess of 35,000, studying in UCC, CIT, Cork College of Commerce and St.John’s College.

Tenancy

The property is let to Eircom Limited t/a Eir on a 5 year lease from October 2019 at an annual rent of €95,000. The tenant has invested in a new fit-out following the re-brand from Meteor to Eir.

Further details are included in the legal download.

Zoning

The subject property is located in an area zoned M2 - City/Town/Village Centre, Central Area, 'to provide for the protection ,upgrading and expansion of higher order retailing, in particular comparison retailing and a range of other supporting uses in the City Centre Retail Area' as defined by the Cork City Development Plan 2015 to 2021.

Accommodation

VAT

Please refer to Legal Documents

BER Rating

D1

BER Identification Number

800354151

Energy Performance Indicator

147.6 kgCO2 /m²/yr


*Terms & Conditions

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 interested parties 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.