Rental scope boosts price

AN office building on Cork City’s South Mall with further rental uplift scope has sold within months of going to the open market, and has fetched about 25% over its guide price, after competitive bidding.

Confirmed as sold this week is 26/27 South Mall, a purpose-built 1970s seven storey building of 16,600 sq ft, with three floors vacant.

It has a current rent roll of €103,000, from tenants that include Focus Ireland on the ground floor, O’Mahony Pike Architects, the HSE and O’Connor Murphy Clune solicitors: the latter two tenancies are due to expire this year.