Plenty of opportunity at City Quarter development in Cork

The chance to ‘asset manage’ much of the iconic, but part-vacant, City Quarter development in Cork city comes to market this week. It guides at €14.5m, with scope to double the current rental income from €654,000 to €1.33 million, according to agents Savills.

The package now up for sale – and long-expected to come to market for Nama - includes considerable vacant quality office space, some retail/ground floor offices, the vacant former Boardwalk Bar and Grill, and 229 of the 280 car parking spaces, in the two basement parking levels.

In all, the portion of City Quarter now up for new ownership/management is 64% vacant, and the offer includes 38,000 sq ft of offices and 14,000 sq ft of ground floor retail/restaurant.