Three reasons to buy in Eastgate

There’s been very little warehouse space sold in the last few years at the Eastgate Business Park just east of Cork city. Now, with the rise in activity in the area and with on-going reports of Samsung biopharm interest in the Amgen site, there’s a feel of a rising tide lifting values.

So, many eyes may well be on the performance of the sale of Nos 1, 2 and 3 Eastgate Avenue, a mixed end terrace warehouse/office space.

It’s new to market this week with agent Sam Daunt of Savills, for sale or to let, and he says preliminary inquiries are coming from investors and end users, keen to buy rather than to lease.

He guides at an even €500,000 and that’s for a building mix totalling c 8,000 sq ft, made up of 4,800 sq ft of offices, 3,100 sq ft of office, plus mezzanine of 2,900 sq ft.

As a sale, it equates to an average of €61 per square foot, and it can be leased for €7 psf.

“It’s a chance to buy a modern warehouse and office accommodation, in one of Cork’s most premier business parks,” notes Mr Daunt, saying “there is limited availability currently in the market for this type of commercial property - good interest is anticipated.”

Units 1 and 2 are interconnected, with mezzanine and two roller shutter doors and an interconnected office building. Unit 3 is an interlinked office building with office/showroom space on the ground floor.

There’s good circulation to the rear, and car parking available for up to 18 cars. The 120 acre park, just east of the Jack Lynch Tunnel, was developed in the late 1990s and 2000s by O’Flynn Construction and include business/offices, warehousing, and retail occupants.

Details: Savills 021-4271371


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