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IrelandCorkCork CityDouglasEast Douglas Village, Douglas, Co. Cork

€9,500,000

East Douglas Village, Douglas, Co. Cork

Energy RatingInvestment Property Refreshed on May 4, 2021
Eircode: T12Y688
#5 of 7 Properties Viewed in Douglas
Lisney Commercial Cork
Lisney Commercial Cork
Tel: 021 427 5079
PSRA Licence No. 001848
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Description

Substantial mixed use investment opportunity, comprising 5 stand-alone buildings; which include a bar, restaurant and 10 bedroom hotel, office and retail accommodation, 3 restaurants and 16 apartments. Village House A 2 storey commercial building; with retail units occupying the ground floor and a number of offices and consulting rooms on the first floor. Terms have been agreed with a well-known restaurant chain for the available ground floor retail unit. Barry House A 3 storey mixed-use building; with two commercial units on the ground floor, one of which is vacant. There are 4 no. 2 bed apartments on the upper floors, all of which are occupied. Barryscourt House A 3 storey mixed-use building, with a restaurant on the ground floor and 12 no. 2 bed apartments on the upper floors, all of which are occupied. * Holbar House A 3 storey mixed use building, with retail units and a restaurant on the ground floor and a number of offices and consulting rooms on the first and second floors. This building is fully occupied. ** East Village Bar, Restaurant and Hotel A 3 storey building with bar and restaurant facilities at ground and first floor level with 10 no. ensuite bedrooms on the second floor. Note * There are an additional 3 apartments in this building, which are excluded from the sale. ** Unit 5 Holbar House on the first floor is owner occupied and excluded from the sale.

Accommodation

Features

Substantial mixed use investment opportunity, comprising 5 buildings; which include a bar, restaurant and 10 bedroom hotel, office and retail accommodation, 3 restaurants and 16 apartments. Developed in 2000 and situated in a high profile location in the heart of Douglas, in close proximity to Douglas Village Shopping Centre and Douglas Court Shopping Centre and to the south of the N40 South Ring Road. Tenants include the East Village Bar, Restaurant and Hotel, El Vino Tapas and Wine Bar, Ramen Asian Street Food, EBS, Staunton & Byrne, the Ailesbury Clinic and the Metric Group. Currently generating an income of �?�761,424 p.a., subject to variation, in accordance with a range of ongoing lease events. The bar, restaurant and hotel is held on a 20 year lease, with a current income of �?�180,000 p.a. The apartments are fully let, with income of �?�186,564 p.a., with the potential to increase to �?�199,984 p.a., when RPZ increases are implemented. All apartments are 2 bed units, with electric storage heaters and BER ratings ranging from B3 to D2. Extensive on-site parking. Fully managed scheme. Funding available from Origin Capital if required.

BER Details

BER: B3

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Negotiator

Margaret Kelleher

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