38 Patrick Street, Cork City, Cork | Property for sale | Savills
2,911 sq ft(270.44 sq m)
Asking price €850,000($1,219,581)

38 Patrick Street, Cork CityCork

  • New
  • Sole agency
Investment
2,911 sq ft (270.44 sq m)

Key features

  • Prominent commercial opportunity in the heart of Cork City.
  • Entire building let to Dune Shoes Ireland Ltd.
  • Let on a 5 year lease from September 2022 with a rent roll of €100,000 per annum
  • The property is offered for sale with the benefit of the existing Tenant.
  • Full repairing and insuring lease in place.
  • Attractive Net Initial Yield of 10.7%.

The subject property is situated on Patrick Street, the primary retailing corridor in Cork City Centre.

About this property

  • The property comprises an impressive mid – terrace retail unit that is set out over four floors. Dune trade from the ground floor, with an impressive retail showroom and rear storage area. The upper floors, accessed through an independent stairwell from Patrick Street, are primarily comprised of stock rooms and offices, as well as staff facilities.

    The overall property extends to approximately 2,911 sq ft, with the benefit of an extensive ground floor area that extends to 1,078 sq ft.

    The entire building is let to Dune Shoes Ireland Ltd, who have been in occupation since September 2022.

38 Patrick Street is an excellent investment opportunity that benefits from an excellent tenant and attractive yield of 10.7%.

Michéal WalshProperty agent

Local information

  • The subject property is situated on Patrick Street, the primary retailing corridor in Cork City centre.
  • Neighbouring occupiers include The North Face, Eason’s, Pandora, Penney’s and Brown Thomas, cementing this as an area of high footfall and passing traffic.
  • The property has excellent frontage and benefits form both high footfall and extensive passing traffic.

Energy performance

D2

Available space

DescriptionUseSize Sq MSize Sq Ft
GroundRetail100.11,078
First & MezzanineOffice / Storage92990
SecondStorage39.1421
ThirdStorage39.2422
Total270.42,911