There isn’t even a Full House yet, but there’s an income of €144,600 a year all the same at the Deanrock Business Park in Cork.
And, over half of that income comes from the monster-sized,state of the art, c 21,000 sq ft Rock Bingo Hall, to help the investment numbers stack up in this c €1.3m investment sale by tender.
Likely to learn his bingo lingo, and numbers-calling, in a hurry is Rob Coughlan of Cohalan Downing auctioneers, who is selling a high-profile property mix totalling 30, 375 sq ft in the Togher suburb, facing the N40 south city ring road, with a tender date of November 30.
At one stage Waters Munster glass, it now is home to a mix of tenants that include Fast Fit, Lite FM, Allen Barber & Co engineering, and Rock Bingo, the latter in a purpose fitted out space of almost 2,000 sq metres, and spanning units A, E and D5.
Full planning is in place for the Rock Bingo element, secured after a long battle by its promoters, and while a formal lease isn’t operating, the use is confidently expected to remain in place.
Rock Bingo pays €88,000 pa for its 1,995 sq m, and next biggest occupier is Fast Fit, paying €35,000 pa for 300 sq m. Lite FM pays €12,000 pa for 128 sq m, and Allen Barber & Co pays €9,600 pa for 163 sq m at first floor level.
Two other slender ground floor units, totalling 236 sq m (and so hardly the ‘Two Fat Ladies’ of the Deanrock Centre,) are available to let and can add to the rental return, says Mr Coughlan. Not included in the sale is a unit in separate ownership and occupied by food retailer Mr Bells.
DETAILS: Cohalan Downing 021-4277717
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