Irish Life to sell off Cork and Limerick retail locations

The €9.5 million sale of Irish Life investment properties in Cork and Limerick includes two Patrick Street Cork units set for increased profile from next year, when the Capitol Cinema retail site is completed, bringing a strong anchor (Zara? H&M?) to this end of Patrick Street.

Forming part of the eight properties-strong ’CLIC Portfolio’ with Downing Commercial are Nos 77 and 78 Patrick Street, let to fashion chain Coast and mobile company Meteor, with individual valuations of €1.75 million, and €1.275m.

The CLIC Portfolio holds the promise of an overall net initial yield of 9.1% (once unlet space in an office block at the University Technology Park is let), and is offered in one, or several lots.