For Sale

Unit 2A The Atrium, Blackpool Business & Retail Park

Cork City, T23 T2VY
497 SQ.M
€900,000
Investment Property

Property Overview

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.

Title

Title to the property is held by Freehold Title.

Service Charges

Approx. €12,544 per annum. Current.

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

  • 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%

Accommodation

BER No. 800764094
Energy Performance Indicator: 306.71 kWh/m2/yr

RS-WS1