78 St. Patrick’s Street, Co. Cork

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.Johns 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.

BER Details