Under the hammer: Retail opportunity in ‘Clon’ comes with dual street access

A West Cork retail investment, previously occupied by a pharmacy has been put up for sale, with dual street access, in the heart of Clonakilty town.

Under the hammer: Retail opportunity in ‘Clon’ comes with dual street access

Agents David McCarthy and Nicholas O’Connell of Lisney guide no 59/60 Pearse Street at €350,000, and that’s for a three-storey period era main street building, with a surprising 2,000 sq ft at ground level thanks to a rear extension, which has access also to a public car park behind O’Donovans Hotel and by the library.

They describe the building as a substantial commercial property, on Clonakilty’s principal trading street, near the recently upgraded Astna Square, with further street upgrades ongoing.

Neighbouring occupiers include the legendary De Barras bar and music venue, Bluetts Pharmacy, Scully’s Butchers, Brosnan’s Café, Bateman’s Shoes, and O’Donovans Hotel.

Lisney’s David McCarthy says: “It’s an ideal opportunity for an owner occupier or indeed investor to acquire a substantial property in Clonakilty’s main thoroughfare.

“There will be strong demand for this property with a number of enquiries already taken.”

Details: Lisney, 021-4275079

Busy year ahead gets under way with February auctions

After a January lull, auctions are gearing up again for some gavel-banging activity during February and beyond.

Having sold 240 lots in 2015 at auction, IAMSold have lined up 18 auctions for 2016, starting in Cork on February 10 at 7 pm in the Rochestown Park Hotel, with 20 lots on offer.

Online and public auctions will follow in their Munster, Leinster and Connaught auction schedule in coming months, says IAMSold director Patrick Convey, noting they represent 140 estate agent partners nationwide.

Also back in action is Allsop, with their first auction of 2016 in the RDS Concert Hall on February 25, where 250 properties, including 60 commercial property lots, will go under the hammer, with a combined reserve of €31 million.

Robert Hoban, Allsop’s commercial director, predicted an interesting year ahead with the general election and with general economic indicators looking positive, and renewed confidence in the investment property market.

As an indication, he revealed that their database of customers had grown 12%,to 64,000.

Allsop’s lots include six holiday lodges priced at €200,000 to €250,000 at Ballykisteen, Tipperary; a Schull holiday home at Coosheen, guided at €130,000 to €150,000; residential rental properties in a number of locations, and Dublin houses and apartment, including a four-bed in Rathgar with a €850,000 reserve.

Other lots span a mixed-use investment at 4, Douglas Village West, Douglas, Co Cork, guiding €150,000 to €160,000, and a 1,500 sq ft unit at 6, Kilnap Business and Technology Park, Old Mallow Road, Cork, guiding €75,000 to €85,000; and 26 sites at Glenstal Gate, Murroe, Limerick, guiding €200,000 to €240,000

Details: www.munsterpropertyauction.ie, www.iamsold.ie, www.allsop.ie.

Building on busy Princes St could be a Capitol investment

A retail investment, close to where Cork city’s new Capitol cinema redevelopment is expected to give this city centre quadrant a major boost, is up for sale for €500,000 plus.

Nos 2/3 Princes Street, Cork, is let to Korky’s stores on three leases, currently producing a passing rent of €38,976 pa.

Set opposite the Princes Street entrance to the English Market and fashion shop Fat Face, it has Game Stop on Patrick Street on one side, and Ann Summers on the other on this pedestrianised street that links Oliver Plunkett Street to Patrick Street.

Other traders on the street include Rocket Man, Iago, Cummins Sports, Mollys shoes, Ecco shoes and Starbucks.

The four-storey building is let to Simon Hart Limited, whose directors are Michael Corcoran and John Corcoran and it trades as Korky’s Shoes, under three leases, two on 99-year terms from 1957 and 1967, and with the ground floor of No 2 on a 35-year lease from 1992, with five-year reviews.

The tenant is unaffected by the sale, says Séamus Costello of DTZ Sherry FitzGerald.

There’s 2,335 sq ft in all and the ground floor retail area has 770 sq ft.

Mr Costello says given the location and profile “it’s likely to appeal to a broad range of investors due to the favourable lot size on offer and quality of the product.”

Details: DTZ Sherry FitzGerald 021-4275454

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