Investment property comes with €1.2m guide

An investment property just off Cork City’s St Patrick’s Street which was owned by investor/developer Joe O’Donovan has a current rent of €135,000, on upward only reviews, and is now for sale, guiding €1.2 million, an 11% yield.

Set on Marlboro Street, the premises (previous a bar, trading as Billy Morgan’s) — is high-profile, and is let to travel company Trailfinders Ireland, with a guarantee backed by the international group’s parent company.

No 40-41 is held on a 25-year lease from 2006, with five-year reviews, note joint selling agents DTZ Sherry FitzGerald and Casey and Kingston, who have a number of Mr O’Donovan’s former assets currently up for sale. They describe No 40/41 Marlboro Street as a 1,500 sq ft lock-up retail premises, with internal access to a further 500 sq ft of first floor storage/office space.