A Cork city retail investment up for sale on St Patrick’s Street is topped and tailed by two interesting features – it has a limestone drinking stone trough for dogs, done by renowned sculptor Seamus Murphy down at street or paw level, while overhead it now has planning secured for a three-bedroomed apartment, with River Lee and bridge views.
A Swiss-based investor has commenced building a portfolio of Cork city centre properties, having spent close to €5 million to date, acquiring a number of well-established buildings on Oliver Plunkett Street and St Patrick’s Street, with over 12 tenants combined, and getting an average 8% rent return on his purchases.
TWELVE years after the Irish property, construction, and economic crash, work is finally set to start on the very first non-student apartment development of any scale in Cork City in that time period, in an investment put at €40m.
Half-price parking deals, an extended park and ride bus service, and new city centre set-down areas are part of a package of measures planned as part of the reintroduction of the controversial afternoon car ban on Cork City’s main street.
A WELL-SET St Patrick Street Cork city retail investment directly opposite the completed and fully occupied Capitol mixed use development, which is let to Boots Chemists and earning a current annual income of €540,000 is for sale, guiding €5.75 million.
WITH plans afoot for the €70m-plus investment property sale of the ‘old’ Roches Stores/Debenhams Cork’s store by the publicity-shy Roche family, the arrival of a neighbouring niche investment with a more modest €1.5m price tag has impeccable timing, and opportunity.