Penrose Wharf has location down to a tee

TEE-ED up for a sale is Unit No 1 at Cork City’s increasingly prominent commercial hub, Penrose Wharf — the point at which the N27 city route from Cork’s airport ends at the N8.

Penrose Wharf has location down to a tee

The complex of shops and offices has passing traffic of 40,000 people a day, thanks to a setting in the evolving docks and quays, between CIE’s Kent Railway Station, the Bus Station, and is near hotels, and offices such as City Quarter and One Albert Quay.

Now, the independently-owned and one of the earliest-occupied and highest profile units of all in Penrose Wharf, the former Maher’s Golf Emporium, is up for sale, or to let.

It stretches to a sizeable 7,300 sq ft, with dual access, in a rapidly evolving quayside location.

CIE’s plans to reorient Kent rail station and improve pedestrian connectivity via Penrose Quay, and to redevelop portions of the sprawling site along Horgans Quay, will further boost levels of activity and investment in this city sector, says Paul Hannon of Lisney.

He has been appointed to sell businessman Tommy Maher’s Golf Emporium premises which has traded from Unit 1 Penrose Wharf for 22 years, and who started in the golf equipment and sports supply business in 1971.

Following decades in business and expansion, the Maher family-owned sports complex on Oliver Plunkett Street is now operated by the 1847-founded Elverys, in a return to sports retailing in the heart of Cork city.

Selling the Golf Emporium, Mr Hannon guides at €750,000, and says there’s also an option to rent the premises at €75,000 per annum.

It set just to the east/right of a pedestrian access way into Penrose Wharf, which is owned by the Lynch family, entrepreneurial owners of the Cotton Ball bar and micro-brewery in Mayfield, as well as the recently upgraded Thompson House on MacCurtain Street.

Thompson House is home to major employer Starwood Hotels and Resorts’ customer support centre, among other users.

Between them, Thompson House and Penrose Wharf accommodate more than 1,000 city centre jobs.

Penrose Wharf itself was redeveloped in the early 1990s by Jack Lynch in the former quayside Denis Coakley grain store, retaining its original sandstone walls and opes, and now has c 100 units in many shapes and sizes, ranged around an internal courtyard, with parking for over 100 cars.

While the Lynch family might be expected to have an interest in acquiring Unit No 1, there will be broader end-user and investor inquiries, as well as letting interest, it is understood.

Agents Lisney say: “Kent railway station dominates the area to the east and is currently undergoing a redevelopment which will impact positively on the property, creating a new pedestrian link to the city centre along Penrose Quay.”

They describe this unit facing the Michael Collins Bridge on the River Lee’s north channel as “a well-maintained modern building, high profile, with extensive glazed frontage onto Penrose Quay.”

Nearby occupiers include Jurys Inn, Clarion Hotel, Union Chandlery and IT consultancy firm Oxford International, as well as Port of Cork.

The latter organisation is set to sell up its landmark city island-ending wharves and Cork Harbour Commissioners HQ building, to relocate downriver to Ringaskiddy.

DETAILS: Lisney 021-4275079

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