The Fox & Hounds is guided at €2.5 million by agents Seamus Costello and Frank Ryan of Cushman & Wakefield, and the proposed sale has several strings to its bow, including other development potential proposals.
It last sold publicly back in 2004, when it fetched c €4 million and featured as one of the biggest Cork suburban bar sales of the period, bought by a group with other Cork bar interests.
It was further developed as a neighbourhood centre, adding other retail and rental units as well as continuing to be anchored by a bar and off licence keeping the Fox & Hounds name, and further retail development plans were advanced.
There are over 16,000 sq ft of buildings, existing income of €121,000 pa, and the bar and off-licence can be had with vacant possession. In all, there’s a little over three acres, of mostly undeveloped land fringing the North Ring Road.
The area, countryside up to several decades ago, has expanded considerably and is now largely suburbanised, and the most recent County Council LAP has allowed for the residential zoning of many hundred more acres in the hinterland for future, edge-city expansion on the northside.
Already in situ close by are a long-established Dunnes Store, a new-ish Lidl, and an upgraded Applegreen filling station, shop and food outlet.
The Fox & Hounds, which straddles the current city/county divide, and which is just 3km from the city centre, is zoned for town centre and neighbourhood development purposes, with some greenfields space.
“Ballyvolane is identified as a major urban expansion area with substantial lands zoned for residential development and complimentary mixed uses,” says Cushman & Wakefield’s Seamus Costello, saying other future uses could include a nursing home among other mixed uses.
The previous planning travails were protracted: Cork City Council allowed a significant retail plan back in 2015, including for a c 90,0000 sq ft supermarket aimed at Tesco, but it was appealed by some residents concerned about traffic and other issues.
In refusing permission, An Bord Pleanála cited the need for upgrades to the North Ring Road among other reasons for declining permission.
There are three vacant units, and the tenancies dating to a range of years cover five tenants. The current line-up includes Ladbrokes bookmakers, Orchard Palace Restaurant, Apache Pizza, V2 hair salon, and a beauty salon.
Tenants are unaffected by the sale, and the bar/off licence is currently owner-occupied, and turnover can also be enhanced with the addition of a food offering in the bar / lounge.