€1.2m for Cork retail investment
Lisney is seeking €1.2m for what it is calling a "prime retail investment" in Cork City (pictured).
The property is situated in Cork City Centre on the east side of Emmett Place at its junction with Drawbridge Street. The surrounding area is principally retail/ commercial in character with Cork Opera House and the Crawford Municipal Art Gallery dominating the area west, Opera Lane/fashion street to the south connecting with Patrick Street and the Savoy Shopping Centre and Dunnes Stores department store also south of the subject property.
The property comprises an imposing two storey corner building incorporating a feature turret with frontages to both Drawbridge Street and Emmett Place. The total net floor area is approx. 207 sq m (2,221 sq ft).
The property is fully occupied with two tenants. The ground floor is let to Costa Coffee under a 25 year lease from October 2009. The second floor is let to Aroma Restaurant under a 35 year lease from August 1989. The property is currently producing a total rental income of €109,000 per annum.