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4300/Block G13, Cork Aiport Business Park, Cork

Investment Property (1,072.00 sqm) For Sale by Private Treaty
of

Price €1,550,000

Features

  • Prime Investment Opportunity (Tenant Not Affected).
  • Two storey self-contained office building of modern specification comprising 1,072 sqm (11,538 sqft) gross internal area.
  • Let to Arris Communications on a 20 year FRI lease from November 2000 at a current rent of €144,755 per annum.
  • Excellent parking with 45 spaces.
  • Corks premier business park adjacent to Cork International Airport.
  • High profile park occupiers include IBM, Amazon, BNY Mellon, Newsweaver and Bord Gais Energy.

Location

Located in Cork Airport Business Park in one of the premier office locations in the Cork region. The park provides approximately 750,000 sq ft of modern third generation office accommodation laid out in a low density campus style landscaped environment. The park was developed in two main phases with the subject property forming part of Phase
1.

Cork Airport Business Park is situated approximately 7 km south of Cork city immediately adjacent to Cork International Airport. Occupiers in the park include Amazon, IBM, Bank of
New York, Mellon, Open Text, Bord Gais, Avery Dennison and Aviva.

Full Description

The property comprises a detached two storey thirdgeneration office building of modern specification comprising1,072 sq m : 11,538 sq ft gross internal area and 857.6 sqm : 9,231 sqft net internal area. There are toilets and staffchanging facilities in the central core and lift access to thefirst floor. There is a surface car park to the side and rear ofthe building with excellent parking ratio of 45 spaces for the subject property.

 

Viewing Details

By special appointment with the sole letting agent, Lisney.

Accommodation

    Tenancy

    The property is let to Arris Communications on a 20 yearThe property is let to Arris Communications on a 20 yearlease from October 2000 with five year rent reviews at acurrent rent of €144,755 per annum. There is a tenant breakoption on 29th October 2018 exercisable with three monthsadvance notice in writing and six month rent penalty and alease expiry date of 28th November 2020.

     

    Tenant Covenant

    Arris Communications took over Com21 in Ireland in 2003Arris Communications took over Com21 in Ireland in 2003together with their lease obligations, Arris CommunicationsIreland Limited is a private limited company with a net worthin the order of $3,232,000 (source Vision Net), the lease isguaranteed by the Arris Group Inc.

BER Details

BER: C1
BER No. 800594582
Energy Performance Indicator: 360.78 kWh/m²/yr kWh/m2/yr

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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