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26 South Main Street and 12 Tuckey Street, Cork

Investment Property (212.65 sqm) For Sale by Private Treaty
of

Price €725,000

Features

  • Mixed commercial and residential investment.
  • Tenants not Affected.
  • Prominent city centre location on the corner of South Main Street and Tuckey Street.
  • Ground floor licenced premsies and three overhead one bedroom apartments.
  • 100% occupied, current rental income €67,860p.a.
  • Situated directly opposite the Brewery Quarter development.
  • On the instructions of the Receivers, Stephen Tennant and Nicholas O'Dwyer, Grant Thornton.

Location

The property is centrally situated in Cork city centre on the corner of South Main Street and Tuckey Street. It is 100m from Grand Parade and is directly opposite the Brewery Quarter development, a 3.5 acre site which will include a proposed €70 million events centre, student accommodation and offices. The student accommodation development comprising 413 bed spaces is under construction and is scheduled to be completed by summer 2019.

 

Full Description

The property comprises a three storey and part two storey corner building with a ground floor licensed premises laid out as a pub with rear store, ladies toilet and disabled toilet. There is a first floor coldroom, stores and gents toilet. There is separate access to the upper floor apartments from Tuckey Street. There are 3 No.one bedroom apartments, one on each of the first, second and third floors. The apartments are each laid out with an open plan living/dining/kitchen area, bedroom and bathroom.

Tenancies

Ground floor and part of first floor let to CMB City Taverns Ltd on a 20 year lease from 1st July 2006 at a current rent of €46,800 per annum with five yearly upwards only rent reviews.
The three apartments are let on residential letting agreements at a current total rent of €21,060 per annum.

Viewing Details

By special appointment with the selling agent, Lisney.

Accommodation

    Floor Description Sq M Sq Ft
    Ground Pub, store & toilets 76.64 825
    First Store, coldroom, toilet 38.18 411
      Apartment 1 32.61 351
    Second Apartment 2 32.61 351
    Third Apartment 3 32.61 351
      Approx. Total 212.65 2,289

BER Details

BER: E2-G
BER No. 800629685
Energy Performance Indicator: 1091.3 kWh/m2/yr

Solicitor

Fitzgerald Solicitors, 6 Lapp's Quay, Cork

Contact Details

Address: 1 South Mall, Cork
Telephone: +353-21-427 5079 or you can also email us at cork@lisney.com

Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:

1. These particulars do not constitute any part of an offer or contract.

2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.

3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation  are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.

  4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

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