Clever sale of Cleve Quarter office block

An early 2000s-developed office block on Cork city’s docklands’ ‘landing strip’ Monahan Road is up for sale.

There’s some 34,000 sq ft in the third generation Cleve Quarter, and the sale includes the vast bulk of the c 40,000 sq ft five-storey building, where a half-floor was sold to an investor several years ago.

The sale price of €43.50 a square foot equates to just a fraction of build or replacement costs, says agent Edward Hanafin of Lisney, who quotes a selling price of €1.5 million for the building.