Upstairs downstairs on offer at Quay

Two different property offers, one to let, the other to buy, are on the market at 6 Lapps Quay, in the heart of Cork city, next to the Clarion Hotel, bus station and near the rapidly developing One Albert Quay.

Upstairs downstairs on offer at Quay

Up for sale as an investment guiding €600,000 is an office suite of just over 4,000 sq ft at floor three, in No 6 Lapps Quay, on the market with estate agent Sean McCarthy of ERA Downey McCarthy Commercial.

It is let on a new, 10-year lease to a law firm with five-year review, at €59,000 pa.

Mr McCarthy says the part-floor three is third generation specification, with Cat 5 cabling, integrated phone system, suspended ceiling, air conditioning and carpet flooring.

They are laid out as a mix of open plan offices, private offices, meeting room, boardroom, and facilities.

Meanwhile, a ground floor office/retail unit in the same building developed by O’Flynn Construction is up to let, via Lisney. Agent Ed Hanafin is letting the profile ground floor premises of 3,680 sq ft, with extensive street frontage.

It faces the city’s leading Clarion Hotel (currently gone to best bids, in a sale process likely to top €30 million) and is near proposed new CBD office sites.

The own-door suite has planning permission for office/retail/financial services, and adjacent employers and firms include KBC Bank, Deloitte, EY, Sherry FitzGerald/DTZ, Brookfield Renewable Ireland, Fitzgerald Solicitors, GJ Moloney Solicitors, and Bord Gais, while Tyco, PWc, Arup and Invetec are to move to One Albert Quay across the Lee early in 2016.

The unit at 6 Lapps Quay has been vacant for several years. The previous tenant was Turkish tile company Vitra who moved in in 2007/08, paying a rent of €145,000 pa, or around €40psf. Guide now is €65,000 pa, or just under €18 psf.

Details: ERA Downey McCarthy, 021-4905000 Lisney, 021-4275079.

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