RS-WS1
For Sale

Building 4700, Cork Airport Business Park,

Cork Airport, Co. Cork, T12 XE1E
24,632 SQ.FT
€3,300,000
Investment Property

Property Overview

Building 4700 comprises a modern detached two storey third generation office building situated in a high profile location at the main entrance into the Business Park. The total Gross Internal area is 2,288 sq m (24,632 sq ft) and Net Internal area is 1,912 sq m (20,585 sq ft). The property is currently laid out with 2 no. office suites at ground floor level and 1 no. office suite on the first floor. There is a central core with a feature glazed entrance lobby, stairs, passenger lift and ladies and gents toilets and shower on each floor. The main ground floor entrance lobby has a tiled floor and the offices are finished internally with air conditioning, raised access floors with carpet floor coverings and suspended acoustic tiled ceilings incorporating lighting. There is surface car parking surrounding the building providing an excellent parking ratio of 100 spaces for the subject property.

Tenants include Marriot International and Smarttech. One of the ground floor office suites which comprises a net internal floor area of 5,000 sq ft is currently vacant.

Please see dedicated website for more information:

https://4700corkairport.com/

Building 4700 comprises a modern detached two storey third generation office building situated in a high profile location at the main entrance into the Business Park. The total Gross Internal area is 2,288 sq m (24,632 sq ft) and Net Internal area is 1,912 sq m (20,585 sq ft). The property is currently

  • High profile location in Cork Airport Business Park, just off the N27 and approx. 7km south of Cork city centre.
  • Excellent global business community within the Park and occupiers include Amazon, Intel, Bank of New York, IBM, Poppulo, Aviva and Alter Domus
  • Detached two storey third generation office building extending to 24,623 sq ft (GIA)
  • High specification offices which have raised access floors, air conditioning and lift access
  • Site of approx. 1.3 acres with 100 surface car spaces
  • 75% occupancy
  • Tenants include Marriott International and Smarttech Cyber Security. Tenants are not affected by the sale.
  • Current total rental income of €221,700 per annum exclusive
  • Asset management opportunity with potential to significantly increase rental income by securing a tenant for the vacant office.
  • Net Initial Yield of 6.1% with potential for Reversionary Yield of 9.6%

Accommodation

Tennancy Schedule

FloorUnitFloor Area Sq Ft (Gross)Floor Area Sq Ft (Net)TenantLease StartLease ExpiryRent P.AAllocated Parking
GroundA6,2475,282Zefone Ltd t/a Smarttech23 October 201722 October 2022€79,23021
GroundC5,9174,923Vacant20
First B12,46810,380MVCI Services Ltd t/a Marriott International09 December 200209 December 2022€142,50045
Total24,63220,585€221,73086

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