Aviva is selling a retail investment on Cork’s main shopping boulevard of Patrick Street, with a €3m price tag.
Extending to 7,000sqft, it is currently let to health-food chainstore Holland & Barrett, which pays an annual rent of €215,000. That suggests a gross initial yield of 7.17pc.
Located at 43/44 Patrick Street, the premises is adjacent to the English Market with its world-famous food stalls. Double-fronted, the unit has a ground-floor footprint of over 3,000sqft.
The lease to Holland & Barrett covers the entire three- to four-storey property, and is due to expire in 2025.
The retailer operates over 1,300 stores in 16 countries.
Isobel O’Regan, director of Savills Ireland, is handling the sale.