Jones Lang Wootton is quoting £1.45 million for a retail investment at 86 Patrick Street, Cork, which is to be sold by tender on 19th November. The premises were recently let to the fashion multiple Japan at a rent of £90,000 per annum. Number 86 Patrick Street is located along one of the busiest stretches of Patrick Street, adjacent to The Body Shop and directly opposite Wallis and Barratt Shoes. Because of the constant demand by multiples for shops in this area, rents are expected to continue to rise over the coming years.
The building was originally used as the southern office and sales base of the Guinness Group and has 3,264 sq ft of space over three floors, with 1,334 sq ft at street level.
Alan Bradley of the selling agents said that given the quality of the location and the calibre of the tenant, he expected strong interest in the investment both from institutions and private investors.