There is scope for further development on an eight-acre plot on Cork City’s new Mallow Road/old Commons Road, as the long-established Commons Express Inn comes up for sale.
Synonymous with the O’Neill family for decades, the Cork northside complex expanded from a bar into a 40-bedroom hotel and function facility in 1999.
It’s now set to change hands for the first time, as a going concern, and is said to be trading profitably.
Known colloquially as ‘the Commons’, it comes to market this week, priced at €2m, with joint agents, hotels specialist, Denis O’Donoghue, of Savills, and Rob Coughlan, of Cohalan Downing, who have recently sold city centre bars for over €1m each.
The Commons’s profile setting and location, on the edge of Blackpool (which has a good employment, retail and commercial base) and considerable road frontage to the Cork-Limerick N20, gives it considerable further potential.
It evolved from a pub to a hotel and was extended a second time, in the early 2000s, to a three-star, 40-bed hotel with large bar, restaurant, function room/ballroom for 300 patrons, and meeting rooms. The dining room/carvery seats 180 people.
Hotel occupancy here rebounded in 2014, up to 70%, which is behind the latest trending.ie report on 77% average hotel occupancy in Cork and there’s ready scope to boost that, say the selling agents.
Location is four kilometres from the city centre, skirting John Cleary Developments’ North Point Business Park, and is close to the Blackpool Business Park, Retail Park and cinema, beyond the Dunnes Stores-anchored Blackpool Shopping Centre. Notable employers include Apple, up above Hollyhill, the Revenue Commissioners, Irish Examiner, and Heineken Brewery.
Reached by its own traffic light-signalled junction off the N20, “the Commons Express Inn occupies a strategic gateway site at the northern entrance to Cork City, of approximately eight acres, which is zoned for residential, local services and institutional uses,” say Savills and Cohalan Downing.
Additional uses could include a nursing home, apartments or a drive thru’ restaurant, with a Dino’s drive thru, and two McDonalds (one a drive thru’) in the area.
“This is an excellent opportunity to acquire a trading hotel with huge growth potential. With the continued recovery in hotel business in the Cork City market, and the extra development potential that exists to extend the existing business or to exploit undeveloped portions of the site, the €2m guide price is an excellent proposition for any purchaser,” the agents state, selling the freehold property by private treaty.
Details: Cohalan Downing 021-4277717, Savills 021-4271371
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