A world of opportunity

A €4m, Cork City office investment by a Hong Kong-based buyer, is one of the first significant overseas swoops outside the Dublin office market.

The sale of a 16,000 sq ft office, at nos 5 and 6 Lapps Quay, let to Deloitte, concluded at the end of September to a low-key investor, an Australian living in Hong Kong who has other Irish investments.

The Lapps Quay property was developed by O’Flynn Construction and has two floors leased to international accountancy firm, Deloitte, who are paying an annual rent of €422,000, on a 20-year lease from 2005.