From €350k to €34m - Gap in property values on busy Cork street

43 Paul St

It can be hard to keep in step with the neighbours, can’t it?

Right in the footsteps of the €350,000 sale of a Cork city centre building at 43 Paul St comes the offer of the place directly next door, at almost 100 times the price, a fancy €34m.

And herein lies the rub, in this mis-matched property pairing.

The 1,580sq ft €350k Paul St property is being vacated by a private chiropodist’s clinic, while the one next door, at the junction between Paul St and Half Moon St, is 75 times bigger, at 120,000sq ft. And, it is anchored by a flagship Boots pharmacy at ground level, and occupied by tech giant Apple Europe in offices overhead.

Even the rent on the multi-tenanted and mixed-use Half Moon St sale ‘next door’ at €2.6m a year (see story on page 19) dwarfs the sale value on No 43 Paul St, many times over.

Just sold to a local trader for €350k is the traditional mid-terraced No 43 Paul St. It will be owner-occupied, says estate agent Dennis Guerin, of Frank V Murphy & Co auctioneers, who had been seeking a price closer to €420,000 for the three-storey, older era building.

Its new occupier can now expect well-heeled activity, once the Half Moon St €34m investment sale finds its stride.

Meanwhile a final shoe-in is the sale of a former Cork city shoe shop, O’Connor’s, at 57 Oliver Plunkett St, with just about 1,100 sq ft and which has gone “sale agreed” with the same estate agent for over €300,000.

Details: Frank V Murphy & Co, 021-427420

More on this topic

Na Piarsaigh make hard work of win over Killeagh

Saoradh march takes place in Cork after condemnation over 'disturbing' Dublin parade

Schoolboy captures stunning photo of dolphin off Cork coast

Four people rescued from yacht off Cork coast

More in this Section

Say Yes to the Address: Franc's Tree House is a gem

Munster sales rise but drop in Clare and Kerry

Penrose Dock meeting tall order

Transatlantic appeal by Adare home on beautiful West Limerick gardens


Video: This chocolate facial is the perfect Easter-themed pampering

Wine with Leslie Williams

The Menu: Food news with Joe McNamee

Restaurant Review: Circa Restaurant, 90 Terenure Road North, Dublin 6w

More From The Irish Examiner