Buildings sell in heart of Cork's business district

It is understood that the distinctive office block at No 1 South Mall, Cork, has now gone sale agreed with agent, Lisney. This unique building in the heart of Cork’s business district was offered for sale in March of this year on behalf of receiver Michael McAteer of Grant Thornton.

Currently producing an income of just over €270k per annum, the property was guided at €2.75 million by Margaret Kelleher of Lisney.

Market sources indicate that it achieved a price in excess of €3m reflecting a net initial yield of around 8.6%.