Commercial Property for sale in City Centre Nth, Cork City

  LOCATION A high profile premises situated on the northern side of Cork City Centre. The property is situated at the eastern side of Cathedral Road, amid a concentration of commercial properties surrounding North Cathedral. The property is situated close to the busy junction between Cathedral Road, Gerald Griffin Street and Shandon Street. The residential suburb of Gurranabraher dominates the area to the north west.     DESCRIPTION The property comprises a two storey commercial building with a banking hall / retail area and offices situated at ground floor level, while the first floor comprises offices, and ancillary accommodation. The property is situated on a site area of approximately 0.1 hectares (0.25 acres). Accommodation The net internal floor areas of the building are as follows.   Floor   Description SQ. M Ground Retail/Banking Hall, Offices, Stores 56.8                           Cloakrooms          First Offices, Canteen 63.9                                           Cloakrooms     Total 220.7 ZONING Zoned ‘Commercial Core Area’ in the Cork City Development Plan 2009 – 2015 TITLE Freehold or Similar VAT There will be no VAT chargeable on the purchase of the property. SOLICITOR Aeibhin Cahalan, O’Flynn Exham, 58 South Mall, Cork.

 LOCATION The property is centrally located overlooking the North Channel of the River Lee at the western end of North Mall, close to the junction with Sunday’s Well and opposite St. Vincent’s Bridge. Adjoining properties along North Mall include large Georgian terraced houses with a number of commercial users interspersed including licenced premises and offices. DESCRIPTION The property comprises number 1 & 2 North Mall. 1 North Mall comprises a derelict two bay three storey building, while 2 North Mall comprises a terraced double-pile five-bay three-storey former house with projecting three-bay central bow, built c. 1810, now in office use of c. 470 sq m (5,059 sq ft). There is a two storey extension to rear. It is on a regular shaped site of approx. 0.2 acres(0.08 ha) with parking space for c. 16 cars to the rear, accessed via secure electronic roller door. ZONING The property is zoned “Inner City Residential Neighbourhood” as of the Cork City Development Plan 2009-2015 PROTECTED STRUCTURE 2 North Mall is a protected structure – PS 227 ACCOMMODATION    Floor      Description Sq M Sq Ft Ground Entrance hallway, three offices, file store, & canteen  160 1,722 First Five offices & two stores 210 2,260 Second Five offices 100         1,076   Total Net Internal Floor Area 470 5,059              TITLE Freehold title with unrestricted right of access through the archway of 3 North Mall.                                                                                       

Trophy City Centre retail investment. The building comprises 426.87 sqm of floor space including 209.86 sqm at ground floor level and 139.62 sqm of retailing space at first floor. The property benefits from extensive retail frontage of 18.6m on to St. Patrick’s Street. The property is let to HMV Ireland Ltd on a long, full repairing and insuring lease which has over 18 years remaining unexpired. The current rent is €580,911 pa with the next review due in 3 years time. This investment represents an opportunity to acquire a trophy City Centre retail property let to HMV.