Ship shape shop investment offer under Cobh town's cathedral

Period building on Cobh's West Beach has a shop and six apartments, capable of returning €90,000 a year in rents

Inspired setting of shop and apartments investment offer at Cobh's 1-3 West Beach via agents Michael Downey and Will Lyons of ERA

ONLY a few buildings in the historic Cork harbour town of Cobh have a better position than this profile property.

Some setting: it's facing the waters of Cork harbour

One of the very best sited of all is the town’s landmark cathedral, St Colman’s, towering above and behind this West Beach building.

Up for sale as a mixed use investment, or for an owner-occupier to bring to a new level, is the three-storey Victorian corner building at Nos 1 – 3 West Beach and Pearse Square.

Shop for convenience sake: new owners may take it in another direction?

In the very heart of the town, the building would have seen the comings and goings of trans-atlantic liners and all of the hustle and bustle of a major 19th century emigration centre, with century-plus links to the Titanic and Lusitania, along with 21st century services to visitors from massive cruise ships, and the locals going about their daily business.

Nos1 - 3 West Beach guided at €890,000 by ERA Downey McCarthy

Just listed for sale is the BMC store and six overhead apartments at Nos 1-3, guided at €890,000 by estate agents Michael Downey and Will Lyons of ERA Downey McCarthy, who say they  expect a cross-section of interest given its prominent and potential for a strong yield to a new owner — who may or may not choose to operate the shop as-is, lease it, or adapt to a new use/tenant.

One of the six apartments, under the mansard-style  roof

The vendor is retiring after many years here running the BMC convenience store and, while current rental income is just over €50,000 pa, the estimated rental income as an entirety is €92,000 when fully re-let.

There’s also some further development scope, Mr Lyons adds.

Right now, it has c. 1,800 sq ft retail, with basement, ground-floor and first-floor storage, and six overhead two-bedroomed apartments — two of them at attic/mansard roof level.

The building profile is strong, part of a terrace of Victorian three-story properties in mixed uses (AIB is next door on a €80,000 pa lease from 2019).

Years ago, a number of the south-facing building here would have been slate fronted.

Overhead floors are largely mixed, from private residential to rental and other guest uses, with high-quality accommodation also nearby in place like Westbourne Place and the Commodore Hotel.

Lusitania Peace Memorial in Casement Square, Cobh

Nos 1-3 West Beach face the mouth of Cork harbour, Titanic Centre, the pier, and all marine traffic — including Spike Island ferries — while cruise ships seasonally bring thousands of visitors to Cobh and Munster for day trips by the Heritage Centre, past the public park.

Cruise ship Borealis, the last liner of the 2023 season after overnighting in Cobh in November. Picture: David Creedon

Port of Cork says it expects a 23% increase in cruise ship numbers to 116 this year, up from 94 in 2023, when 180,000 visitors arrived with the value to the region put at €17m.

The first ship of the season arrives April 1, so will the ERA For Sale sign still be up on this building by then?

The store to date has been independently operated and a new owner may choose to go with a national brand, or adapt to art/craft sales, café/restaurant or other retail uses, with location and the photogenic profile underpinning activity.

“The current footfall is very strong,” ERA’s Mr Lyons says.

Cobh has a Centra nearby at 16A West Beach, as well as a EuroSpar, plus Garveys SuperValu and there’s a Lidl and an Aldi over the back of the town, at Ticknock.

DETAILS:

ERA Downey McCarthy: 021- 4905000