Commercial
 

Commercial Property

32 South Mall, Cork City, Cork, T12FK66

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Price: POA
Contact
Telephone: 021 427 0007

Description

32 South Mall, Cork City, Cork, T12 FK66. For Sale By Private Treaty – 32 South Mall, Cork City Centre.

### Best Bids by 5pm Thursday 15th of November 2018 ###

Location
This prominent building is situated on the corner of the South Mall and Parliament Street which is the main southern arterial route leading into Cork City. It occupies a high profile position at the western end of the South Mall with existing occupiers including AIB, UCC, Grant Thornton, KPMG, Eventbrite etc. The South Mall is Cork’s most well-known premier business and office location.

Description
The property comprises of a five storey end of terrace building which was modernised and upgraded in 2008.
The refurbishment works include new contemporary curtain walling, structural glazing and stone cladding skin to the lower street elevations.
The property is currently utilised as the Munster headquarters for the Bank of Ireland and incorporates a substantial retail banking hall with overhead offices.

Substantial prime office investment.
Excellent corner position on South Mall
Rental income €864,000 p.a. with c. 14 years left to run.
25 year lease from Feb 2007 leased to Bank of Ireland.
Tenants unaffected.
Rare opportunity to acquire a triple A investment.
Best Bids by 5pm Thursday 15th of November 2018.

Accommodation


Area (as Defined in Lease)
Ground retail banking area - 728.44 m sq / 7,840 sq ft
Ground Floor Storage - 20.17 m sq / 217sq ft
First Floor Offices - 508.16 m sq / 5,469 sq ft
First Floor Storage - 8 m sq / 86 sq ft
Second Floor Office - 528.16m sq / 5,685 sq ft
Second Floor Storage - 8 m sq / 86 sq ft
Third Floor Office / Ancillary - 528.16 m sq / 5,685 sq ft
Third Floor Storage - 8 m sq / 86 sq ft
Fourth Floor Office / Ancillary - 186.4 m sq / 2,006 sq ft
Total Net internal Floor Area - 2,479 m sq / 26,685 sq ft

Area (as Measured)
Ground retail banking area - 704.2 m sq / 7,579 sq ft
Ground Floor Storage - 20.17 m sq / 217 sq ft
First Floor Offices - 442.66 m sq / 4,764 sq ft
First Floor Storage - 8 m sq / 86 sq ft
Second Floor Office - 463.96 m sq / 4,994 sq ft
Second Floor Storage - 8 m sq / 86 sq ft
Third Floor Office / Ancillary - 463.96m sq / 4,994 sq ft
Third Floor Storage - 8 m sq / 86 sq ft
Fourth Floor Office / Ancillary - 175.39 m sq / 1,887 sq ft
Total Net internal Floor Area - 2,294 m sq / 24,692 sq ft

 

Lease term: 25 years from 6th of February 2007.
Lessee: Governor of the Company of Bank of Ireland.
Current Rent: €864,879.35 per annum.
Remaining Term: 14 Years
Title: Long leasehold


Agents:

Cearbhall Behan 0874199881

Anthony Quinlan 0860661404

Both of Behan Irwin & Gosling Incorporating Downing Commercial.

 

Solicitor:

Ms. Joan Kiely

PJ ODriscoll Solicitors

73 South Mall

Cork City

Phone: 0212300800

Viewing:

Strictly by appointment with sole selling agents only.

Features

Location

CORK CITY, CO CORK
32 South Mall Cork, T12 FK66

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Added 11-10-2018