Building offer adds up to a good proposition

ONE of Ireland’s top ten accountancy firms, Moore Stephens Nathans, is to sell its Cork HQ — a former Bank of Ireland premises on the South Mall — on a new 12-year lease and at a rent of €180,000 pa.

The firm has a staff of 120 in Cork and Dublin and is actively recruiting in both cities, has ten directors, and has just recently made new partner changes and strategic reviews which prompted the proposed sale at South Mall.

No 83 South Mall goes to market this week to investors via agents Isobel O’Regan and Niall Guerin of Savills, who seek €2.1 million exclusive, offering an initial yield of 8.1% to its new owners.