Lot 1 - 19 and 20 George's Quay, Cork City, Cork, T12 DK49

  • Unconditional Online Auction Sale
  • Guide Price* : €485,000

Investment Property

Location

Directions: If you place the Eircode into Google on your phone and click search. This will bring you directly to the property. The Eircode for the property is T12DK42

Description

**ATTENTION LANDLORDS / SAVVY INVESTORS SEEKING TO INCREASE THEIR PORTFOLIO **

DNG Creedon are delighted to present to the market this superb mixed use commercial and residential self-contained block, located in the heart of Cork City Centre. It comprises of two retail units on the ground floor and two residential apartments overhead on the first and second floor.

All units in both buildings are fully occupied by excellent tenants of a very strong covenant. The current rent roll is €57,212 per annum representing a 11.7% yield. There are no management fees as it is a self-contained block.

ACCOMMODATION:

Ground floor - 19 George's Quay 306 sq. ft Currently occupied by a Filter cafe on a 10-year lease from October 2017.

Ground floor - 20 George's Quay 524 sq. ft which is currently occupied by Fat Belly take away restaurant on a 20-year lease from August 2019.

First and Second Floor - The overhead accommodation are both one bedroom apartments which are in superb condition and fully occupied. The layout of each unit is as follows: entrance hallway, open plan/living/kitchen/dining room, one large double bedroom and main bathroom. The apartments are heated by electric storage heating.

FEATURES:
- Current rent roll of €57,212 per annum.
- 11.7% yield.
- Tenants of excellent covenant in place on long leases.
- Long leasehold interest with 664 years remaining
- Self-contained block.
- No management fees.
- Superb city centre location.

The Building Energy Rating on each unit are as follows:
Filter Coffee Shop - F (BER # 800246746)
Fat Belly Take Away Restaurant - C1 ( BER # 800247058)
Overhead Residential Apartments - F (800247074)

Contact our Douglas offices on 021 4897300.

DNG Michael Creedon, for themselves and for the vendors or lessors of the property whose Agents they are, give notice that: (i) The particulars contained herein are set out as a general outline for the guidance of intending purchasers or tenants, and do not constitute any part of an offer or contract and are not in any way legally binding. (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) No person in the employment of DNG Michael Creedon has any authority to make or give representation or warranty whatever in relation to this development. (iv) The particulars contained herein are confidential and are given on the strict understanding that all negotiations shall be conducted through DNG Michael Creedon. (v) DNG Michael Creedon disclaims all liability and responsibility for any direct and/or indirect loss or damage which may be suffered by any recipient through relying on any particular contained in or omitted from the aforementioned particulars.

Accommodation

Ground floor - 19 George's Quay 306 sq. ft Currently occupied by a Filter cafe on a 10-year lease from October 2017.
Ground floor - 20 George's Quay 524 sq. ft which is currently occupied by Fat Belly take away restaurant on a 20-year lease from August 2019.

First and Second Floor - The overhead accommodation are both one bedroom apartments which are in superb condition and fully occupied. The layout of each unit is as follows: entrance hallway, open plan/living/kitchen/dining room, one large double bedroom and main bathroom. The apartments are heated by electric storage heating.

BER No: 800247058

Bidding not yet open
Minimum Opening Bid

€485,000


Bidding Opens On
11th Feb 2021 09:00
End Date

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Office Contact

Glenn O'Connor
021 489 7300

Vendors Solicitor

Mr Paul Kelly
0579321875

Agreement Documents

Legal Documents

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