Former Mulligan’s Bar in Cork city for sale for €600,000

Subway/Mulligan's Bar, 32 Parnell Place

THE building once beloved of GAA fans as Mulligan’s Bar, more recently a Subway sandwich bar, is up for sale with a guide price of €600,000.

The three-storey, end-of-terrace property at 32 Parnell Place, Cork City, comes with planning permission to convert the two upper floors – measuring 760 sq ft and 875 sq ft - into two two-bed apartments.

It’s been vacant for over a year and is being sold by Rob Coughlan of Cohalan Downing on behalf of a private client, who bought the c3,000 sq ft premises about 10 years ago.

Mr Coughlan said there are a number of options open to a buyer, including pursuing the conversion of the upper floors into apartments, or continuing to use them as offices, which they were prior to the pandemic.

“The offices became vacant during covid, so the owner decided to go for a change of use and got planning permission for apartments.

“But the offices are absolutely immaculate. You could buy the building and put desks in there in the morning. And you could let the ground floor as a café for supplementary income,” Mr Coughlan said. It might suit an accountancy or engineering firm, he said, adding that there are WCs and staff kitchenettes on both floors. There’s an additional 390 sq ft at attic level which “might be useful for services or storage purposes”, Mr Coughlan said.

If a buyer chose the apartment option, the concrete upper floors “should make the conversion to the granted residential use very straightforward”, he added.

The 950 sq ft ground floor café area is self-contained and the upper floors are independently accessed from Merchant Street, adjacent to Merchant’s Quay carpark.

Mr Coughlan said if an investor pursued the apartment option, he or she would have residential rent roll on the upper floors with more income generated by letting the café.

“The property may also suit alternative uses, subject to planning permission,” he said.

The building itself is in a strong business/retail setting near Oliver Plunkett Street, Maylor Street and the city's financial district, with frontage onto Parnell Place and Merchant Street. It’s adjacent to Merchant’s Quay shopping centre, where there’s a multi-storey carpark.

It’s also adjacent to the Central Bus Station and the new pedestrian bridge linking Merchant’s Quay with Patrick’s Quay and the vibrant Victorian Quarter of MacCurtain Street.

The guide price for the premises is €600,000 plus VAT.

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