Mother lode: prime property up for lease
Being marketed as an entire building, Nos 74/75 has three floors of retail, with 2,500 sq ft at ground-level and 12 metres of frontage.
It’s location is strong, just a few blocks west of Opera Lane on the Grand Parade end, heading to UCC and the Cornmarket Street centre anchored by TK Maxx, and it’s being pitched primarily at fashion-retail use, given its size and setting.
This end of St Patrick’s Street is likely to see renewed interest in coming years as the economy recovers, with redevelopment plans for sites like the Grand Parade Capitol Cinema complex, which now has premises stretching back to St Patrick’s Street, facing the architecturally distinguished looking Nos 74/75. There are also further food/fashion development plans in the pipeline for the Coal Quay/Cornmarket Street.
Agents for No 74/75 are Lia Dennehy and Peter O’Meara, of Savills, acting for landlords IPUT, and viewings and marketing are just commencing. Targeted traders would include the likes of Superdry, Republic, Hollister, etc, who are not yet in Cork — although Abercrombie and Fitch, who opened last week in Dublin, might just be a leap too far.
Rent isn’t divulged, but sources say it is likely to be over €300,000 pa, a significant drop on the rent Mothercare had been paying, which was reported to have been around €600,00 pa.
It has 2,500 sq ft at ground-level, a 750 sq ft mezzanine, and 1,500 sq ft at first-floor level, with lift access, and two upper floors of storage.
Adjacent traders include HMV, Dealz and Waterstones, as well as the English Market, while Opera Lane houses such retailers as Gap, Next, H&M, River Island, Top Shop, Compu B, etc.
Multiple retailers on Patrick Street include Boots, Oasis, Sony Centre, Coast, French Connection, Clarks, Tommy Hilfiger, Penny’s, Brown Thomas, Debenhams, and Marks and Spencers.
Details: Savills, 021-4271371
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