Likely best seller on Patrick’s Street

A third, institutional fund sale of a retail investment on the western section for Cork city’s main trading thoroughfare, St Patrick’s Street, is new to marekt.

Listed this week is 68/69 St Patrick’s Street, spanning some 11,000 sq ft, with an annual rental income of €770,000 paid by tenants, booksellers Waterstones. They occupy the building on a 35 years FRI lease, from 1988, with just over five years left to run.

It carries an asking price of €6.25m via Brian Edwards of CBRE Cork, representing a net initial yield after costs of over 11%.