The classically styled limestone building on Cork city’s historical Coal Quay, occupied by the successful restaurant and bar the Cornstore, has been put up for sale as an invesment.
The high-profile building, opposite the Cornmarket retail centre anchored by TK Maxx and Lidl and near the Bodega and Rising Sun Brewery, has a price guide of €1.25 million and a passing rent of €102,000 pa, on a 35-year lease to 2042.
Describing it as “a flavourful addition to Cork’s property market,” the elegant building next to the Loft furniture store is a few metres from the Daunt Square/Grand Parade/Patrick Street junction, which is primed for renewal with the Capitol cinema site set for retail/office/food development.
The well-trading investment property is also close to the Paul Street strip, where Wetherspoons recently opened, and where the Woodford bar has changed hands for over €1.4m.
The prominent four-bay 1700s building served as a bazaar for much of its life, and was converted to new purposes around 2007, with significant Coal Quay/Cornmarket Street upgrades and investment following on. There’s a diverse offering of eateries in Cork city centre, of which the Cornstore plays a key role, says Savills’ Chris O’Callaghan.
There’s been increased demand for this type of property and asset in recent months, adds Savills director Isobel O’Regan, noting its proximity to other leading and busy bars and restaurants like the Roundy, Soho, Bodega and Woodford and Wetherspoons.
The Cornstore has 1,776 sq ft at ground floor, with 1,870 sq ft above, and is near the Washington Street strip, multi-storey car parks at Paul Street, North Main Street and Grand Parad
Details: Savills 021-4271371
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