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3 Units at Kinsale Road Industrial Estate, Kinsale Road, Turners Cross, Co. Cork

Profile Investment Opportunity

FOR SALE BY TENDER/ 4th OCTOBER 2017

(Tenants Unaffected)

3 UNITS AT KINSALE ROAD INDUSTRIAL ESTATE, KINSALE ROAD, CORK

  • An opportunity to acquire 3 fully let commercial units (tenants remaining unaffected) in this high profile location within the Kinsale Road Industrial Estate.
  • The units have a combined current rent roll of 171,000 .
  • The units occupy an overall site area of approx. 0.8 acres/ 0.32 ha.
  • This location provides immediate access to the South Link Road Network (N40) which provides arterial access to the city centre and to the N25/ M7 corridors.
  • Established and nearby neighbouring occupiers include; Harvey Normans, O'Callaghan Electrical, Keohane Seafoods, Smyths Toys, Woodies, Barry's Tea, Home Store & More, Harry Corry and Musgraves.

Location

  • The subject property is located on the Kinsale Road, directly off the Kinsale Road Roundabout, approximately 3 km south of Cork City centre.
  • As Cork Cities busiest traffic junction the location enjoys over 85,000 passing cars daily.
  • This location provides immediate access to the South Link Road Network (N40) which provides arterial access to the city centre and to the N25/ M7 corridors.
  • Adjoining occupiers include Harvey Normans, O'Callaghan Electrical, Keohane Seafoods, Smyths Toys, Woodies, Barry's Tea, Home Store & More, Harry Corry and Musgraves.

Description

  • Three commercial units for sale on an investment basis with the current tenants remaining unaffected.
  • The 3 terraced units, extend to an approximate footprint of 11,710 sq.ft with additional mezzanine level areas.
  • The units occupy an overall site area of approx. 0.8 acres/ 0.32 ha.
  • While the properties enjoy exceptional covenant strength, particularly with HSS as a PLC, the offering is further enhanced by its unrivalled profile location which occupies an exceptional position directly off the Kinsale Road Roundabout, approximately 3 km south of Cork City centre.
  • As Cork Cities busiest traffic junction the location enjoys over 85,000 passing cars daily.
  • This location provides immediate access to the South Link Road Network (N40) which provides arterial access to the city centre and to the N25/ M7 corridors.
  • Adjoining occupiers include Harvey Normans, O'Callaghan Electrical, Keohane Seafoods, Smyths Toys, Woodies, Barry's Tea, Home Store & More, Harry Corry and Musgraves to name but a few.
  • Adjoining occupiers include William O'Brien Storage & Crane Hire, O'Brien Amber Oil & Costcutter, Audi Cork, Topaz, Dunnes Stores and Ryan Car Sales.

Tenancy Synopsis (Further lease details available strictly on request to identified parties)

  • Tenant: HSS Hire Service Group PLC**
  • Lease Term: (Two Terraced Units) 25 Years from September 1999
  • Rent Review: 5 Yearly Upwards Only
  • Rental Income: 141,000 per annum

 

  • Tenant: Leeside Interiors Ltd t/a Cork Tile & Wood Flooring
  • Lease Term: (Terraced Unit) 10 Year lease from May 2016
  • Rent Review: Agreed rental increase to 35,000 in May 2018.
  • Rental Income: 30,000 per annum

** While HSS have sub-let the unit to Northgate Vehicle Hire and Johnstone's Decorating Centre, HSS remain responsible for the original lease.

Tender Details:

  • Tender documents available on request to principals only from the offices of Whelan Solicitors, Grattan Court, Washington Street West, Cork.
  • Completed tenders to be returned to the offices of Whelan Solicitors, No Later than 12 Noon on Wednesday 4th October 2017.

Offers

  •  In excess of €1.75m

Solicitor

  • John Whelan, Whelan Solicitors, Grattan Court, Washington Street West, Cork

Viewing Strictly by prior appointment with Sole Agents;

  • Rob Coughlan 086 326 4320
  • Brian Olden  087 221 1174

Location

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  • Society of Chartered Surveyors Ireland
  • Colliers International
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