LOT 2 – INVESTMENT PROPERTY
FOR SALE
78 St Patrick’s Street, Cork
(Tenant Unaffected)
LOCATION
Prominently located on St Patrick’s Street, Cork, which is
Cork’s premier retail location. Adjoining occupiers include
Waterstones, Boots, Coast, Carphone Warehouse. In close
proximity to Opera Lane and Princes Street. The Capital site
(for which planning was granted for a 80,000 sq ft retail and
office scheme) together with the St Patrick’s Street entrance
to the English Market are located opposite the property.
DESCRIPTION
An attractive four storey, mid-terrace, retail unit with
generous display windows at ground level and retail fit out
on ground and first floors.
ACCOMMODATION
sq ft
(approx)
sq m
(approx)
(Areas as per SCS measuring guidance notes)
Ground Floor
First Floor
Second Floor
Third Floor
ITZA
991 92.1
884 82.1
492 45.7
465 43.2
587 54.5
TENANCY
Tenant Meteor Mobile
Communication Ltd
Term 5 Year Lease from
10/10/2014
Rent
€95,000
Lease Expiry
10/10/2019
Break Date
09/10/2017
COVENANT
Meteor Mobile Communication Ltd
Eircom had a turnover in excess of €1.2 billion in the year
ended June 2014.
DATA ROOM INFORMATION
Please contact Mr. Barry Noonan, William Fry Solicitors
barry.noonan@williamfry.com for a NDA.
GUIDE PRICE
Guide price of €1,275,000 equates to a net initial yield of
7.1%.
TENURE
Long leasehold – held under 2 leases (approx. 223 and 478
years remaining respectively)
78 St Patrick’s Street – Meteor Mobile Communication Ltd