{
  "PropertyId": 3279878,
  "Address": {
    "FullAddress": "The Clarion Hotel, City Quarter, Lapps Quay",
    "Town": "City Centre Sth",
    "County": "Cork City",
    "Eircode": "T12RD6"
  },
  "Location": {
    "Latitude": 51.8968917,
    "Longitude": -8.48631569999998
  },
  "PropertyDetails": {
    "Type": "Hotels & B+Bs",
    "FloorAreaSqM": 0,
    "Ber": "C1",
    "Features": []
  },
  "BrochureContent": [
    {
      "ContentType": "Description",
      "Content": "Superb Location:  \r\n\r\nCork City is Ireland's second largest city and the capital of Ireland’s southern region, with a combined population of 199,000 rising to over 500,000 within a 60.0km radius. \r\n\r\nThe city is home to Irelands second largest airport and port, major universities such UCC and CIT (combined part-time and full-time student population of over 33,000) and a long list of international companies including Pfizer, GlaxoSmithKline, EMC2, Apple and Amazon.\r\n\r\nModern Iconic Hotel Property:  \r\n\r\nThe Clarion Hotel is located at the heart of Cork’s premier business district, City Quarter in Lapps Quay. \r\n\r\nAdjacent to South Mall and overlooking the south channel of the River Lee, Lapps Quay is home to leading global corporates such as EY and Deloitte.\r\n\r\nDesigned by Scott Tallon Walker and opened in 2005, the Clarion Hotel houses a signature glass atrium and extensive service offering including 191 fully air-conditioned, elegant modern guestrooms offering private balconies and unrivalled views over Cork City.\r\n\r\nStrong Income Stream:\r\n\r\nThe hotel and conference centre are currently operated by the tenant, Merzolt Limited t/a Choice Hotels Ireland, under 3 institutional grade 35 Year FRI upwards only leases (with almost 25 years unexpired) at a total current rent of €2.402 million. \r\n\r\nAt the guide price of €30 million, this represents a net initial yield of 7.66%. \r\n\r\nRental increases are linked to the current market rent of the hotel and the hotel is currently “rack rented”. \r\n\r\nWe consider there to be significant scope for further rental increases during the years to come with the next rent review set for December 2016/January 2017. The hotel’s strong income stream and investment value is further underpinned by a significantly higher vacant possession value at the property.\r\n\r\nExcellent Growth Potential:  \r\n\r\nThe Clarion Hotel Cork offers significant growth potential, with the Cork hotel operating market currently experiencing unprecedented levels of trading performance growth. According to STR Global, RevPAR performance in Cork increased by +10.9% in 2014.  \r\n\r\nWith the further regeneration of nearby Albert Quay currently underway and concrete plans for the delivery of Corks first major Convention Centre, the Clarion Hotel Cork’s already prime location is set to be further enhanced."
    },
    {
      "ContentType": "BER Details",
      "Content": "BER:     C1\r\nBER No:  800334807\r\nEPI:     594.88 kWh/m²/yr"
    },
    {
      "ContentType": "Viewing Details",
      "Content": "By appointment only\r\n\r\nFor further information please contact\r\n\r\ndaniel.oconnor@eu.jll.com\r\njames.wood@eu.jll.com"
    }
  ],
  "Price": {
    "Display": "POA",
    "Currency": "EUR"
  },
  "Media": {
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    "Gallery": {
      "Url": [
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  },
  "Agent": {
    "Name": "JLL Commercial",
    "Logo": "https://photos-a.propertyimages.ie/groups/5/3/1/11135/logo.jpg"
  },
  "Listing": {
    "Status": "For Rent",
    "DateListed": "29 Jul 2015"
  }
}