IPUT to offload three Cork city centre properties

PROPERTY fund IPUT, with some €2bn in investments and which celebrates 50 years in the investment game this year, is seeking to offload three Cork city centre retail investments at the western end of Patrick Street, guiding €9.5 million, or a c 6.15% yield.

Set opposite the practically completed and almost fully reserved €50m new Capito development of office and retail, new to market this week is a trio of invesments, No 73, 74/75 and 79 Patrick Street.

Also in the same vicinity, and offered last year as part of the eight-property strong Irish Life CLIC Portfolio of Limerick and Cork investments were 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: there’s no offical confirmation yet of a conclusion on the €9.5m CLIC Portfolio, via Downing Commercial/Behan Irwin Gosling.