I'm looking for:

Deanrock Business Park, Togher, Co. Cork

Investment/ Asset Management Opportunity

FOR SALE

(Tenants Unaffected)

  • An opportunity to acquire a substantial Business Park Investment Property (excluding Mr Bells) with the current tenants remaining unaffected in this high profile location.
  • The property offers a combined current rent roll of 144,600 per annum with an opportunity to increase revenues through strategic asset management.
  • The building extends to approx. 30,375 sq.ft and occupies an overall site area of approx. 1.4 acres/ 0.57 ha with some 70 car parking spaces.
  • This location provides immediate access to the South Link Road Network (N40), between Kinsale Road Roundabout and Sarsfield Road Roundabout.
  • Established occupiers include Rock Bingo, Fast Fit Tyres, Allen Barber & Life FM.

Location

  • The subject property is located off the Togher Road and Tramore Road, on the southern periphery of Cork City Centre.
  • The property benefits from some 90 metres of frontage to the South Link Road Network (N40). Deanrock Business Park is positioned some 2.5 km west of the Kinsale Road Roundabout and 2 km east of the Sarsfield Road Roundabout.
  • Immediate occupiers include; DG Welders Equipment, Togher Pharmacy, Abbey Ville Veterinary Hospital, Deanrock Bar & Deanrock Technology Park.

Description

  • The offering comprises the Deanrock Business Park, laid out over ground and part first floor. Currently in mixed use to include a well established, state of the art Bingo Hall, commercial units and office accommodation.
  • The majority of the Park is occupied with a current rent passing of 144,600 per annum and the offering affords an asset management opportunity to increase future revenues for a new purchaser.
  • The entire (excluding Unit - Mr Bells) is for sale on an investment basis with the tenants remaining unaffected.
  • The overall buildings extends to some 30,375 sq.ft/ 2,822 sq.m approx. with some 70 car parking spaces and occupies an overall site area of approx. 1.4 acres/ 0.57 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.

Tenancy Synopsis

  • Tenant E3 Bingo Ltd
  • Unit         A, E, D5
  • Lease Term 15 Year Term from 2013, subject to a rolling 2 Year Tenant Only Break Option.
  • Approx Area 1,995 sq.m
  • Rental Income €88,000 pa

 

  • Tenant Fast Fit
  • Unit         C
  • Lease Term 25 Year Lease from August 2004 with a Break in Year 10 - Not Exercised
  • Approx Area 300 sq.m
  • Rental Income €35,000 pa         

 

  • Tenant Life FM
  • Unit         G
  • Lease Term 9 Year 9 Month Lease from December 2006. Currently Overholding
  • Approx Area 128 sq.m
  • Rental Income €12,000 pa

 

  • Tenant Allen Barber
  • Unit         D1 & D2 / 1st Floor
  • Lease Term 4 Year 9 Month Lease from August 2017
  • Approx Area 163 sq.m
  • Rental Income  €9,600 pa

 

  • Tenant N/a
  • Unit      D3 1st Floor & D4
  • Lease Term n/a
  • Approx Area 236 sq.m
  • Rental Income  n/a

Total – SQM  2,822 sq.m  / Rental Income €144,600 

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

Solicitor:

  • Martin O’Callaghan
  • Ronan Daly Jermyn Solicitors, 2 Park Place, City Gate Park, Mahon Point, Cork
  • Phone: 021- 2332871     
  • Email: martin.ocallaghan@rdj.ie

Viewing Strictly by prior appointment with Sole Agents;

  • Rob Coughlan & Malcolm Tyrrell  

 

  • 1,200,000
  • Area 262 Sq.M
  • 2822 Sq.Ft
  • Other Information investment property

+353 21 427 7717

Location

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  • Society of Chartered Surveyors Ireland
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