€1m ‘Pana’ property swoop

The investment arm of the Davy Group has made a further retail swoop on Cork city’s Patrick Street, having bought the Moderne last year for circa €4-5 million in an off-market deal.

€1m ‘Pana’ property swoop

The 15,000 sq ft Moderne is currently being refurbished and will be handed over to new occupiers SuperDry at the end of next week, to start fit-out. Details of an occupier for the rear portion of the Moderne on French Church Street have yet to be confirmed. Now, it is understood that Davy Private is paying close to €1 million for No 85 Patrick Street, which previously had been occupied for a number of years by the Body Shop. The building’s owners accepted a surrender of the Body Shop lease at 85 Patrick Street over a year ago, and Body Shop has since relocated to a premises at 82/83 Oliver Plunkett Street.

No 85 is at the corner of Patrick Street and Carey’s Lane, and it’s understood that Davy also has advanced or even completed plans to acquire the adjacent Nos 83 and 84 Patrick Street.

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