A ‘Grand’ opportunity in Cork

There’s sheer, distinctive profile and a unique setting at No 46 Grand Parade — a period Leeside building linking Cork city centre and its South Mall to the proposed new events centre on South Main Street.

New to market with Margaret Kelleher and David McCarthy of Lisney is 46, the former Dún Mhuire building, owned for several decades by long-established developer/investor Robin Power, and which had been in use as offices for 30 years, recently occupied by Bank of Scotland, and then more latterly by Certus.

It book-ends the South Mall, by the Nano Nagle pedestrian bridge and is set right on the riverbank, on the Lee’s southern channel: it has gable windows overlooking the water, and now — subject to planning permission — seems custom-set for an Electric or Courtyard-style bar/restaurant venture, and perhaps a continuation of the boardwalk from South Mall, towards the South Gate Bridge.

Its guide price is sub €1 million, officially quoted at €950,000, and it has 13,000 sq ft of accommodation, over four levels with a distinctive balustered facade. It’s next to the architecturally important bow-fronted and slate hung buildings on Grand Parade, where No 49, the former Fianna Fáil Cork HQ, was the last sale. In very poor order, No 49 sold via Lisney and making €170,000 to an undisclosed investor buyer, possibly as part of a strategic move in advance of the redevelopment at the Brewery Quarter/Events Centre site. Negotiations on financing that Event Centre are continuing with site owners BAM/Heineken, State funding bodies and with Live Nation. Sources say BAM may be in talks to take over the site in full from Heineken.

Much of the surrounding property, and the car park behind with Grand Parade access and South Main Street and river frontage, is controlled by the Kenny Group who may have an interest in No 45’s acquisition: it could form an important part of a major site assembly for Kennys - if they go for it.

While Dún Mhuire has an imposing presence, onto the river and a high quality public plaza, its interior is not remarkable and it will need considerable further investment.

Details: Lisney 021-4275079