|Property Type||Investment Property|
Savills is delighted to offer to the market 25 Washington Street, Cork a mixed use city centre investment opportunity. The property comprises an end of terrace four storey commercial property with ground floor commercial space and 6no. student apartments on the upper floors comprising 24no. student beds. The property is noted as a Protected Structure under the Cork City Development Plan 2015 / 2021. The property is zoned as "City Centre Retail Area" under the Cork City Development Plan 2015 / 2021.
The ground floor commercial units are fully independent and extends to approximately 1,985 sq ft (NIA) in total, with rear fire escape access. The upper floors are accessed from Anne Street, and all floors are served by stair well access. The apartments are of a similar layout with four bedrooms, open plan kitchen and living room and 2no. bathrooms.
The building is a three bay former warehouse building constructed in c. 1885 with double pitched roof, attractive red brick façade and yellow brick detail to window heads and cill level.
The subject property is located in a high profile location on the corner of Washington Street and Anne Street, approximately 650 metres east of University College Cork, and 350 metres west of Grand Parade. Washington Street is the main pedestrian and vehicular thoroughfare serving the city centre and the western suburbs and colleges and is a renowned hub for leisure activities and has a wide range of pubs and restaurants. Cork City is the second largest city in Ireland with a population of approximately 200,000 persons, with a county wide population of approximately 520,000 persons. The city offers a vibrant, diverse and compact core with a student population of approximately 30,000 and is home to University College Cork and Cork Institute of Technology. In addition, Cork has an excellent employment base of large multi-nationals including Apple, Dell / EMC, Amazon, Pfizer and Novartis.
Date created: Apr 24, 2019