Property Description

The property comprises a four storey mid terraced commercial property fronting Patrick Street. The high profile premises is laid out with a self-contained retail unit at ground floor level which features a modern, glazed frontage onto Patrick Street and is currently occupied on 10 year lease by Liberty Clothing.



There is a dental surgery on the first floor level occupied by The National Implant Centre on a 5 year lease, who's demise also includes the second floor which is currently in office/storage use. The top floor remains vacant and is in storage use.



This investment opportunity is offered for sale together with Joint Agent Knight Frank.



The property is centrally situated in Cork city centre on the north side of Patrick Street at its western end. The modern high profile Capitol Development is situated directly across the street. Patrick Street is Cork’s prime shopping street and principal retail thoroughfare and is host to a number of major department stores such as Brown Thomas, Dunnes Stores and Penney’s nearby and immediately adjacent occupiers to the subject property include Sostrene Grene, Dealz, Boots, McDonalds and Bank of Ireland.



Key Points:

- High profile four storey commercial premises.

- Self-contained ground floor retail unit with ancillary storage accommodation overhead.

- Good display frontage onto Patrick Street.

- Occupied by two tenants with top floor vacant

- Total accommodation extends to 312.9sqm (3,367 sqft) with approx. 138.68sqm (1,494 sqft) at ground floor level.



Tenancies

Ground Floor:

• Rent €65,000 per annum

• New 10 year lease from Q1 2025

• Tenant break at end of year 5

• Cap of 15% and collar of 1.5% at rent review



First & Second floors:

• Rent €15,000 per annum

• New 5 year lease from Q4 2024

• Tenant break at end of year 3



Both tenants have executed Deeds of Renunciation



Viewing / Further Information

For further information or to arrange a viewing please contact our agent:

Szymon Slowiak

E: [email protected]

T: 087 975 2144



Viewings strictly by appointment only with joint agent Lisney Commercial Real Estate & Knight Frank.



Title

The property is held under a Freehold title

BER Details

Energy Performance Indicator: 0.00 kWh/m2/yr

This property was last updated: yesterday morning