Cork arcade under €1m

One of the oldest shopping malls in the country, Winthrop Arcade which has been trading in Cork since 1926, goes for sale this week through Lisney with a guide price of €950,000.

The complex has entrances on Winthrop Street and Oliver Plunkett Street and also extends through to Robert Street.

Seven of the nine retail units, currently let mainly on short leases, are producing a rent roll of €87,500.

Margaret Kelleher of Lisney estimates that when the two remaining shops are let the roll should rise to about €116,500 per year.

The tenants also pay service charges, insurance and rates.

The rents range from €3,000 for O’Brien’s Sandwich Bar to €15,000 for the Golf Boutique.

The upper floors are mainly used as storage space.