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Aviva offers a prime opportunity to invest in Cork city-centre retail

The premises at Nos 43-44 Patrick Street, Cork Expand

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The premises at Nos 43-44 Patrick Street, Cork

The premises at Nos 43-44 Patrick Street, Cork

The premises at Nos 43-44 Patrick Street, Cork

Donal Buckley

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.

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