8-10 Grand Parade, Cork

€2,500,000

Beds
Price	€2,500,000
Property Type	Investment Property
Size	562 meters²
Energy Rating	BER-D2
Refreshed on	Sep 18, 2024
Eircode	T12 DP78

Description

Investment Highlights • Compact easily managed investment opportunity with secure rental income • Mixed use property comprising an established Pharmacy, Dental Surgery and 5 no. apartments. • 100% occupancy • Current rent of 214,376 per annum exclusive • High profile property fronting Grand Parade • Approx. 562.2 sq m (6,052 sq ft) • Income of 100,000 pa for the lease to Lloyds Pharmacy lease is guaranteed for 20 years The Opportunity The property comprises 2 no. adjoining five storey terraced period buildings originally constructed in 1880. The buildings are interconnected at ground floor level and Lloyds Pharmacy occupy the entire ground and part first floor. The ground floor Pharmacy extends to approximately 1,376 sq ft and has extensive frontage onto Grand Parade. Grand Parade Dental Clinic is an established Dental practice and they occupy part of the first floor and the second floor. There is 1 no. one bed and 4 no. two bed apartments laid out over the remainder of the upper floors. The property is listed on the National Inventory of Architectural Heritage ref no. 20513124 & ref no. 20513125. The porperty is held on the basis of Long Leasehold Title. Tenants are not Affected by the Sale. Location 8-10 Grand Parade is situated in the heart of Cork city centre and occupies a prime position on Grand Parade, close to its junction with St. Patrick's Street. Cork City's main retail thoroughfare St. Patrick's Street is home to a variety of both national and international retailers, and is set for substantial redevelopment in the coming months, including the expansion of Penney's and the redevelopment of the Former Debenhams. The surrounding area is predominantly retail in nature, with a number of high-profile occupiers including The Capitol, The English Market, Lifestyle Sports, Homesense, Sosterne Grene, TK Maxx, McDonalds, and Dealz. The area is set for major transformation under Cork City Council's 61 Million Grand Parade Quarter regeneration public realm programme which includes the redevelopment of nearby Bishop Lucey Park and the potential development of a new state of the art city public library.

BER Details

BER: D2 BER No: 801017435 Energy Performance Indicator: 432.46 kWh/m/yr

Negotiator

David McCarthy

Description

BER Details

BER: D2 BER No: 801017435 Energy Performance Indicator: 432.46 kWh/m/yr

Negotiator

David McCarthy