Bachelors Quay partner sought

The student letting market is being targeted in the c €10m sale of 78 riverside apartments, totalling 145 bed spaces in Cork city.

Put up for sale is the Corbett-family developed Leeside Apartments, on Bachelors Quay near the Gate Cinema, North Gate Bridge, and MUH hospital campus, and is expected to attract the attention of multi-let investors, given the escalation in rents nationally, and in Cork where they rose 18% last year.

Current income at Leeside House (managed by Ziggurat) is €800,000, an initial yield of 7.63%, forecast to rise to close to €970,000 pa if fully let, and refurbishment.