I'm looking for:

Deanrock Business Park, Togher, Co. Cork

Investment/ Asset Management Opportunity

FOR SALE BY TENDER/ 30th NOVEMBER 2017

(Tenants Unaffected)

DEANROCK BUSINESS PARK, TOGHER, CORK

  • 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 vacant space affords an asset management opportunity to increase revenues for a new purchaser.
  • The entire (excluding Unit B\"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.

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

Tenant -Rock Bingo

  • Unit - A, E, D5
  • Lease Term - No Formal Lease in Place
  • 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 Flr
  • Lease Term - 4 Year 9 Month Lease from August 2017
  • Approx Area - 163 sq.m
  • Rental Income - 9,600 pa

Tenant - Vacant

  • Unit - D3 - 1st Flr
  • Lease Term - n/a
  • Approx Area - 108 sq.m
  • Rental Income - 0

Tenant - Vacant

  • Unit - D4
  • Lease Term - n/a
  • Approx Area - 128 sq.m
  • Rental Income - 0

 Tender Details:

  • Tender documents available on request to principals only from the offices of Ronan Daly Jermyn Solicitors, 2 Park Place, City Gate Park, Mahon Point, Cork
  • Completed tenders to be returned to the offices of Ronan Daly Jermyn Solicitors, No Later than 12 Noon on Thursday 30th November 2017.

Solicitor:

  • Paula Deasy
  • Phone: 021- 2332809
  • Ronan Daly Jermyn Solicitors, 2 Park Place, City Gate Park, Mahon Point, Cork

Viewing Strictly by prior appointment with Sole Agents;

  • Rob Coughlan Phone: 021-4277717
  • Steven Denehan Phone: 021-4277717
  • 1,300,000
  • Area 2822 Sq.M
  • 30375 Sq.Ft
  • Other Information investment property

+353 21 427 7717

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  • Society of Chartered Surveyors Ireland
  • Colliers International
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