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Unit 2A The Atrium, Blackpool Business & Retail Park, Cork

Investment Property (497.00 sqm) For Sale by Private Treaty
of

Price €900,000

Features

  • A prime suburban office investment (tenants not affected).
  • Located in the successful and high-quality environment of the Blackpool Business & Retail Park
  • Let to Atrium Facilities Management Limited
  • Second Floor office suite extending to approximately 497 sqm (5,346 sqft)
  • New 15 year lease commencing on the 1st of Nov 2020
  • Tenant only break option 1st November 2025
  • Lease expiry 1st November 2035
  • Current rent €80,000 per annum exclusive
  • Guide Price €900,000 reflecting a net initial yield of 8.09%

Location

Located just off the N20, the property is situated approx. 2.5km north of Cork City centre. The office suite is within The Atrium building which forms part of the successful Blackpool Business and Retail Park. Blackpool is the premier business destination on the northern side of Cork City. The Business Park comprises a major development of high specification third generation offices. The main entrance to the building is from the property’s north eastern end through a bright glazed entrance leading to an impressive atrium, the full building height.

Neighbouring office occupiers within the subject property include AIB, Westbourne IT Global Services, Garda Síochána Ombudsman Comission and Blizzard, a gaming support centre company. Some of the main retailers in the park include Woodies DIY, Next Home, Aldi, Argos, Boots, Costa Coffee and Life Style Sport as well as Blackpool Reel Picture Cinema and Dennehy’s Health & Fitness Club. The adjacent Blackpool Shopping Centre comprises multiple retailers, with Dunnes anchoring the centre with just over 6,800 sqm of retail space. The location offers employees a superb working environment convenient to all amenities as well as being in close proximity to the Mallow/Limerick N20 Routes.

Blackpool is one of Cork’s oldest inner city suburbs and is seen as a gateway entrance into the city given its key location on one of the primary access routes into Cork.

Full Description

The property comprises a modern third generation office suite on the second floor of The Atrium Building. Internally the offices are laid out to a high standard with attractive reception area, a series of meeting rooms, open plan office areas, a boardroom, IT/Comms room with a fully fitted canteen area and toilets. Communal areas including lift lobbies and circulation area’s presented in a very modern way with the benefit of superb natural lighting filling the communal atrium area. Total floor area extends to approx. 497 sqm (5,346 sqft).

 

High Specification Fit Out

• Fully Air Conditioned

• Raised access floors (wired for power and data)

• Suspended ceilings with recessed light fittings

• Board Room

• Reception

• Kitchenette/Canteen

• Meeting Room x 2

• Offices x 3

• Cat 5e cabling

• Modular/flexible layout to suit different customer types and sizes

• Swipe card access, Intruder Alarms, CCTV, Recording, Monitoring

• Gents & Ladies Toilets

• Standby Generator on roof

 

 

Tenancy 

 

The second-floor commercial unit is held by “Atrium facilities Management Limited” under a new 15 year lease commencing on the 1st of November 2020. The current rent is €80,000 per annum exclusive and the lease incorporates a rent review at the end of year 5 and 10 to market rent.  There is a tenant only break option on the first day of the sixth year of the term exercisable with six months advance notice in writing. The tenant is responsible for service charges, insurance, and rates. 6 parking spaces in the adjacent multi-storey carpark form part of the tenancy.

 

Viewing Details

By special appointment with the sole selling agent, Lisney.

Accommodation

    Floor  Description  Sq M Sq Ft
    Second  Office accommodaiton  497 5,346

     

    Title

    Title to the property is held by Freehold Title.



    Service Charges 


    Approx. €12,544 per annum. Current.

BER Details

BER: D1
BER No. 800764094
Energy Performance Indicator: 306.71 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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