14 Parnell Place, Cork City,
Property Overview
- Features
- Location
The subject property comprises a three storey landmark period building which extends to approximately 1,033 sqm (11,118 sq ft). The property has dual frontage onto Parnell Place and Oliver Plunkett Street Lower. The ground floor is occupied by Sano Pizza and the first and second floors are occupied by Erin School of English World Limited. The property is currently producing a gross rental income of €190,000 per annum exclusive, increasing to €205,000 in 2027 due to the fixed rental increase in the Erin School of English World Limited lease.
The subject property comprises a three storey landmark period building which extends to approximately 1,033 sqm (11,118 sq ft). The property has dual frontage onto Parnell Place and Oliver Plunkett Street Lower. The ground floor is occupied by Sano Pizza and the first and second floors are occupied by
The subject property comprises a three storey landmark period building which extends to approximately 1,033 sqm (11,118 sq ft). The property has dual frontage onto Parnell Place and Oliver Plunkett Street Lower. The ground floor is occupied by Sano Pizza and the first and second floors are occupied by Erin School of English World Limited. The property is currently producing a gross rental income of €190,000 per annum exclusive, increasing to €205,000 in 2027 due to the fixed rental increase in the Erin School of English World Limited lease.
- 100% occupancy (Tenants not affected)
- Current rental income €190,000, increasing to €205,000 in 2027
- WAULT to Expiry 8.3 years
- WAULT to Break 3.7 years
- Net Initial Yield (NIY) 8.86%
The subject property is situated in Cork city centre on a prominent corner site at the junction of Parnell Place and Oliver Plunkett Street. Parnell Place connects with Oliver Plunkett Street to the northern end and to the South Mall to the southern end. The property is adjacent UCC’s centre for executive education and Parnell Place bus station and minutes’ walk from Kent Train station , it is centrally located with Office and Retail destinations of South Mall, Oliver Plunkett St and Patrick St to the West and Lapps Quay and the expanding North and South Docklands to the East.
Cork which is Ireland’s second largest city and largest county has a population of 222,000 in the metropolitan area with just over 584,000 in the county. Cork is the main commercial, retail and education centre in the south of Ireland, and it has a track record of attracting significant multinational investment. Cork is home to global market leaders in pharmaceutical, healthcare, information and communications technology, biotechnology, professional and international financial services.
The subject property is situated in Cork city centre on a prominent corner site at the junction of Parnell Place and Oliver Plunkett Street. Parnell Place connects with Oliver Plunkett Street to the northern end and to the South Mall to the southern end. The property is adjacent UCC’s centre for executive
The subject property is situated in Cork city centre on a prominent corner site at the junction of Parnell Place and Oliver Plunkett Street. Parnell Place connects with Oliver Plunkett Street to the northern end and to the South Mall to the southern end. The property is adjacent UCC’s centre for executive education and Parnell Place bus station and minutes’ walk from Kent Train station , it is centrally located with Office and Retail destinations of South Mall, Oliver Plunkett St and Patrick St to the West and Lapps Quay and the expanding North and South Docklands to the East.
Cork which is Ireland’s second largest city and largest county has a population of 222,000 in the metropolitan area with just over 584,000 in the county. Cork is the main commercial, retail and education centre in the south of Ireland, and it has a track record of attracting significant multinational investment. Cork is home to global market leaders in pharmaceutical, healthcare, information and communications technology, biotechnology, professional and international financial services.
Accommodation
Tenancy Schedule
| Floor | SQ FT | Tenant | Lease Start | Break | Lease Expiry | Rent P.A. |
| Ground | 4,316 | Rayton Hospitality Limited T/A Sano Pizza | 1st June 2023 | 31st May 2029 | 31st May 2033 | €70,000 |
| First & Second | 6,802 | Erin School of English World Limited | 1st March 2022 | 28th February 2027 | 28th February 2032 | €120,000 (Increasing to €135,000 in 2027) |
| Total | 11,118 | €190,000 (Increasing to €205,000 in 2027) |
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