Cork city block has rent-roll of €40k a week

A Cork city apartment development with shops and parking, developed at a boom- time cost of €50m before going into a protracted receivership, is now on offer to Irish and international investors, guided at €28m, with a mix of 127 apartments — all of which are rented out — and some commercial space.

City Square is one of Cork’s largest apartment “multi-family unit” scheme sell-offs, and is likely to have an appeal to strong Irish and overseas fund buyers, given that it has overall rent-roll of about €2m per annum or €40,000 per week.