PRIME RETAIL INVESTMENT OPPORTUNITY

79 ST. PATRICK'S STREET 79 St. patrick’s street

DESCRIPTION ACCOMMODATION SCHEDULE

79 St. Patrick’s Street is a three story property Floor Use Sq M Sq Ft extending to approx. 197 sq m (2,121 sq ft). The ground floor which extends to 109.8 sq m (1,182 Ground Floor Retail 109.8 1,182 sq ft) is fitted as a mobile telecommunications outlet occupied by Carphone Warehouse with First Floor Storage 42.5 458 the first and second floors currently being utilised as storage. Second Floor Storage 44.7 481

TOTAL 197.0 2,121 TENANCY ITZA 51.5 554 The entire is let to Carphone Warehouse on a

Areas provided are NIA and were measured by Malcolm Hollis. 35 year full repairing and insuring lease from An assignable measured survey is available in the data site. 23rd March 1989 at a current passing rent of €190,000 per annum. The lease is subject to 5 yearly upward only rent reviews.

THE TENANT

Carphone Warehouse is a British mobile phone retailer, with over 2,400 stores across Europe. It trades as Carphone Warehouse in the UK and Ireland and as Phone House elsewhere. In 2015 Dixons and Carphone Warehouse officially merged to become Dixons Carphone. It now has 119 stores nationwide, employs 1,050 staff in the and is one of the leading retailers in Ireland.

2 3 79 St. Patrick’s Street To M18 / ST. MARY & Limerick / ST. ANNE’S GRIFFITH CATHEDRAL Galway COLLEGE Cork’s

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B KENT TRAIN St. Patrick’s Street is located in the centre P O P E S Q U A Y L O W E R G L A N M I R E R O A D STATION of Cork City and is home to a number of N20 N renowned national and multi-national retailers To M8 / including Marks & Spencer, Brown Thomas, NORTH MAIN STREET Kilkenny / Penneys, Superdry, Next, Debenhams and N O R T H M A L L CAR PARK S T. P A T R I C K ’ S Q U A Y Tunnel French Connection. N BACHELORS QUAY CORK R I V E R L E E P E N R O S E Q U A Y OPERA T E The streetSUNDAY’S is also WELL home ROAD to Merchants Quay and 79 PAUL'S STREET HOUSE E CAR PARK R M E R C H A N T S Q U A Y R4 T Opera Shopping Centres and the high end St. Patrick's CRAWFORD S GALLERY Capitol Building. S A N D E R S O N S Q U A Y Street ’ MERCHANTS K QUAY O P ER AL A N E C I

SAINT PETER R The subject unit is situated on the western end C LO NT SR ETA RF AND PAUL’S T CENTRAL CHURCH A CORK PORT of St. Patrick’s Street, adjacent to Oasis, Boots P BUS STATION

. MERCHANTS T QUAY and McDonalds. S CAR PARK ST. PATRICK’S ST. GREENVILLE PLACE CITY St. Patrick’s Street: SHOPPING DISTRICT QUARTER KENNEDY QUAY • 88 high street retail stores providing over 715,000 THE CAPITOL N22 THE CLARION ALBERT QUAY sq ft of retail space (292,000 sq ft at ground floor). HOTEL V IC T O R IA R O A D BUILDING T E E R T S T R E B L A SHEARES ST. • Cork City has a combined metropolitan population ENGLISH of 200,000 rising to over 500,000 within a 60km To UCC MARKET ONE ALBERT EDA PR DNA RG radius. The county as a whole has an estimated WASHINGTON STREET P A RPNLA ELC E QUAY purchasing power of €10.6 billion (Source: Savills N22 A L B E R T R O A D Research, CSO). S O U T H M A L L CITY HALL LAPPS QUAY • 6 multi-storey car-parks in St. Patrick’s Street CAR PARK vicinity with approximately 2,875 car spaces. N27 GRAND PARADE U N I O N Q U A Y CAR PARK THE • 5.17 million approx. footfall per annum in 2016 ELYSIAN (). CITY HALL CAR PARK Ireland’s second largest airport and port are located CORK COLLEGE minutes from Cork City. Cork boasts a number of OF COMMERCE third level institutions including University College SULLIVAN’S QUAY LEGEND Cork (UCC) and Cork Institute of Technology (CIT) CRAWFORD COLLEGE Cork City Bus Service with a combined part time and full time student OF ART population estimated at over 30,000. AND DESIGN Coca-Cola Zero® Bikes Car Park The vibrant city and young skilled workforce has SAINT FIN BARRE’S CATHEDRAL attracted a long list of international companies that provide rich employment to the area including To N40, Jack Lynch Tunnel, UNIVERSITYPfizer, Glaxosmithkline, Dell, Apple, Amazon and COLLEGE Cork Airport CORKJohnson Controls.

4 5 79 St. Patrick’s Street

6 7 79 St. Patrick’s Street

Opera Lane

79 St. Patrick's Street

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OLIVER PLUNKETT STREET

Capitol Redevelopment Merchants Quay

8 9 79 St. Patrick’s Street

the cork market

Retail activity in Cork has shown continued signs of strength We expect further Cork City Centre regeneration in the short throughout 2017. The new 40,000 sq ft Capitol retail to medium term. Merchants Quay Shopping Centre, located at development is now fully let to Lifestyle and Homesense 1-5 St. Patrick’s Street, sold in Q1 2017. It is likely that the new highlighting the high level of demand for Cork City Centre owners will consider progressing with the refurbishment plans retail space. for the centre.

Bestseller have leased 83/85 St. Patrick Street and join Cork is set to become the fastest growing city in Ireland over Søstrene Grene, Homesense and Smiggle as new occupiers in the next 20 years with the population of the city set to almost the City Centre. treble under the combination of The National Development Plan 2040 and the extension of the City boundaries setting out the On St. Patrick Street there is currently 9% of the units being potential for St. Patrick Street to benefit from this growth. earmarked for retail redevelopment. The growing rental levels coupled with the fall in vacancy rates, bode well for the area.

Merchants Quay

Opera Lane H&M

79 St. Patrick’s Street

Capitol Redevelopment

10 11 79 St. Patrick’s Street

Contact & Further Information

SELLING AGENT SOLICITORS

Savills 33 Molesworth Street Dublin 2 PSRA: 002233 www.savills.ie

Fergus O’ Farrell A&L Goodbody +353 1 618 1311 28 North Wall Quay [email protected] Dublin 1 Ireland

Isobel O’Regan +353 (0) 21 490 6344 Paul Diggin [email protected] +353 1 649 2258 [email protected]

Leona Mullen +353 (0) 1 618 1762 [email protected]

GUIDE PRICE BER DETAILS €2 million. 800545618 Energy Performance: Available on request VIEWINGS All viewings are strictly by appointment through the sole selling agent. TENURE We understand the property is held freehold/ long leasehold.

DISCLAIMER: PROPERTY MISREPRESENTATION ACT - The Agents and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Lessees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Neither Savills Ireland nor any of their employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither Savills Ireland nor any of their employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/lessees or any third party arising from the particulars or information contained in this brochure. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/ lessees shall be liable for any VAT arising on the transaction.

Subject To Contract / Contract Denied.

12 RIME REAIL IESME RI

79 ST. PATRICK'S STREET