Property Overview
- Features
- Location
- Income
- Tenancies
- Services
- Zoning
- Title
Substantial mixed use investment opportunity, comprising 5 stand-alone buildings; which include a bar, restaurant and 10 bedroom hotel, office and retail accommodation, 3 restaurants and 16 apartments.
Village House
A 2 storey commercial building; with retail units occupying the ground floor and a number of offices and consulting rooms on the first floor. Terms have been agreed with a well-known restaurant chain for the available ground floor retail unit.
Barry House
A 3 storey mixed-use building; with two commercial units on the ground floor, one of which is vacant. There are 4 no. 2 bed apartments on the upper floors, all of which are occupied.
Barryscourt House
A 3 storey mixed-use building, with a restaurant on the ground floor and 12 no. 2 bed apartments on the upper floors, all of which are occupied. *
Holbar House
A 3 storey mixed use building, with retail units and a restaurant on the ground floor and a number of offices and consulting rooms on the first and second floors. This building is fully occupied. **
East Village Bar, Restaurant and Hotel
A 3 storey building with bar and restaurant facilities at ground and first floor level with 10 no. ensuite bedrooms on the second floor.
Note
* There are an additional 3 apartments in this building, which are excluded from the sale.
** Unit 5 Holbar House on the first floor is owner occupied and excluded from the sale.
Substantial mixed use investment opportunity, comprising 5 stand-alone buildings; which include a bar, restaurant and 10 bedroom hotel, office and retail accommodation, 3 restaurants and 16 apartments. Village House A 2 storey commercial building; with retail units occupying the ground floor and a number
Substantial mixed use investment opportunity, comprising 5 stand-alone buildings; which include a bar, restaurant and 10 bedroom hotel, office and retail accommodation, 3 restaurants and 16 apartments.
Village House
A 2 storey commercial building; with retail units occupying the ground floor and a number of offices and consulting rooms on the first floor. Terms have been agreed with a well-known restaurant chain for the available ground floor retail unit.
Barry House
A 3 storey mixed-use building; with two commercial units on the ground floor, one of which is vacant. There are 4 no. 2 bed apartments on the upper floors, all of which are occupied.
Barryscourt House
A 3 storey mixed-use building, with a restaurant on the ground floor and 12 no. 2 bed apartments on the upper floors, all of which are occupied. *
Holbar House
A 3 storey mixed use building, with retail units and a restaurant on the ground floor and a number of offices and consulting rooms on the first and second floors. This building is fully occupied. **
East Village Bar, Restaurant and Hotel
A 3 storey building with bar and restaurant facilities at ground and first floor level with 10 no. ensuite bedrooms on the second floor.
Note
* There are an additional 3 apartments in this building, which are excluded from the sale.
** Unit 5 Holbar House on the first floor is owner occupied and excluded from the sale.
- Substantial mixed use investment opportunity, comprising 5 buildings; which include a bar, restaurant and 10 bedroom hotel, office and retail accommodation, 3 restaurants and 16 apartments.
- Developed in 2000 and situated in a high profile location in the heart of Douglas, in close proximity to Douglas Village Shopping Centre and Douglas Court Shopping Centre and to the south of the N40 South Ring Road.
- Tenants include the East Village Bar, Restaurant and Hotel, El Vino Tapas and Wine Bar, Ramen Asian Street Food, EBS, Staunton & Byrne, the Ailesbury Clinic and the Metric Group.
- Currently generating an income of €761,424 p.a., subject to variation, in accordance with a range of ongoing lease events.
- The bar, restaurant and hotel is held on a 20 year lease, with a current income of €180,000 p.a.
- The apartments are fully let, with income of €186,564 p.a., with the potential to increase to €199,984 p.a., when RPZ increases are implemented. All apartments are 2 bed units, with electric storage heaters and BER ratings ranging from B3 to D2.
- Extensive on-site parking.
- Fully managed scheme.
- Funding available from Origin Capital if required.
East Douglas Village is centrally located in a prime commercial area, which is approximately 5km south east of Cork city centre.
Strategically located between Douglas Village Shopping Centre, which is anchored by Tesco and Douglas Court Shopping Centre, which is anchored by Dunnes Stores. A new Aldi store is being developed on a site immediately adjacent to the property.
Douglas has a population of approximately 26,800 (Census, 2016) and since 2018, is now within the extended Cork city boundary. The village itself contains a number of high profile retailers and banks, together with an eclectic mix of cafes, pubs and restaurants. The village is also the commercial hub for a number of the surrounding suburbs, such as Rochestown, Passage-West, Grange, Donnybrook,
Frankfield and Carrigaline.
Cork is Ireland’s second city, with a population of approximately 425,000, including the wider metropolitan area, of which Douglas is a part. The city is situated approximately 250km south west of Dublin and 100km south of Limerick.
East Douglas Village is centrally located in a prime commercial area, which is approximately 5km south east of Cork city centre. Strategically located between Douglas Village Shopping Centre, which is anchored by Tesco and Douglas Court Shopping Centre, which is anchored by Dunnes Stores. A new Aldi
East Douglas Village is centrally located in a prime commercial area, which is approximately 5km south east of Cork city centre.
Strategically located between Douglas Village Shopping Centre, which is anchored by Tesco and Douglas Court Shopping Centre, which is anchored by Dunnes Stores. A new Aldi store is being developed on a site immediately adjacent to the property.
Douglas has a population of approximately 26,800 (Census, 2016) and since 2018, is now within the extended Cork city boundary. The village itself contains a number of high profile retailers and banks, together with an eclectic mix of cafes, pubs and restaurants. The village is also the commercial hub for a number of the surrounding suburbs, such as Rochestown, Passage-West, Grange, Donnybrook,
Frankfield and Carrigaline.
Cork is Ireland’s second city, with a population of approximately 425,000, including the wider metropolitan area, of which Douglas is a part. The city is situated approximately 250km south west of Dublin and 100km south of Limerick.
The asset is currently generating an income of €761,424 p.a. This does not include rental income from the car park.
The apartments are fully occupied and are let under rolling yearly tenancies, generating an income of €186,564 p.a.
The commercial units are generating an income of approximately €574,860 p.a.
We understand that all usual services are available to the development.
The property is zoned “Town Centre” in the Municipal District Local Area Plan 2017.
We understand that the property is held by Freehold Title. Please note that the property will be sold subject to, and with the benefit of, the leases and licence agreements previously referred to. The tenants will be unaffected by the sale.
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