€1.25m for Tralee building

Tralee’s Rose Festival has just wound up for its 32 contestants — and also this week a mixed use development in the town comes for sale with practically an apartment or commercial unit in it for each of the Roses.

Just launched with a guide price of €1.25 million is Eden Court, a five-storey mixed use scheme built in 2009, but needing some finishing off to realise any rental potential.

It comprises an 8,000 sq ft ground floor retail unit to suit a ‘big-box’ retailer, plus 3,700 sq ft of first floor offices, along with of 23 apartments.

Full vacant possession is now offered via joint selling agents Seamus Costello of DTZ Sherry FitzGerald’s Cork offices, with Mike O’Sullivan of Walsh O’Sullivan in Tralee.

Although largely completed in 2009, there are works needed in common areas, the basement and elsewhere, before the six one-bed and 17 two-bed units ranged around an upper level courtyard could be rented and occupied, say the agents. They predict both investor interest and inquiries from intending part-owner occupiers who may have a use for some of the commercial space, and who could rent or sell on the residential element.

The six c 600 sq ft one-bed units are at first floor level, and there are 12 two-beds of more than 900 sq ft each at second and third floor level, with five duplex at floors four and five.

Eden Court is on a 0.79 acre site, with basement and surface level car parking and “offers extensive accommodation that is substantially completed,” say DTZ of the 40,000 sq ft property.

At the guide of €1.25m, the sale offer equates to €31 per sq ft of practically completed building.

The agents describe the setting 0.6kms from the town centre as a “high profile gateway location,” fronting John Joe Sheehy Road, and opposite Tralee bus/rail terminal, near one of the town’s two Aldis. It’s also close to the GAA stadium and the Centrepoint development. There may be further development potential on the site, it is suggested.

As Kerry’s largest town, Tralee has a population of 23,000, and is a good employment base, with the Institute of Technology Tralee having 3,500 students, at two campuses 1.5kms apart.

Details: DTZ Sherry FitzGerald, 021-4275454; Walsh O’Sullivan, 066-7122355