Units 3-8, Churchfield Business Park, Churchfield, Co. Cork


Overview

_Big Deals Done
GUIDE PRICE:
€ 750,000


AgentCearbhall Behan
Mobile 087 419 9881
Prop ID C3173

Description
The investment comprises a terrace of 6 no. industrial units which are constructed to a very standard. The units are of concrete block construction covered with an insulated cladding roof. The units have an eaves height of approx. 22 feet.

Location
The warehouse premises is situated in the northern side of Churchfield Business Park, off John Connolly road immediately north of Churchfield which is a large high density suburb of Cork City Centre. The immediate area is comprised of heavy industrial users including recycling centres.

Rates
Unit 3 RV €45
Unit 4 RV €60
Unit 5 RV €45
Unit 6-8 RV €152.37

BER Ratings
Unit 3 has a C2 BER Rating (800701984)
Unit 4 has a B3 BER Rating (800702086)
Unit 5 has a C2 BER Rating (800701955)
Unit 6-8 has a B2 BER Rating (800702078)

  • Tenants Unaffected.
 
  • Excellent investment opportunity.
 
  • Current rental income of €71,500 pa. Stepping to €76,000 pa in 2020.
 
  • The entire extends to c.18,000 Sq Ft.
 
  • Potential rental uplift - from units 3 & 5.
 
  • Close proximity to a number of arterial routes.

Map

Lease DetailsUnit 3 is VacantUnit 4 is occupied by Patrick Quinn under a 10 year lease from 1st January 2015 at a passing rent of €16,500 pa stepping to €21,000 in January 2020.Unit 5  VacantUnits 6-8 are occupied by An Post Limited under a 10 year lease from 1st July 2013 at a passing rent of €55,000 pa 
Accommodation (Total 18,000 sq ft / c. 1,672 m sq)Unit 3 (3,000 sq ft) is vacant Unit 4 (3,000 sq ft) is occupied Unit 5 (3,000 sq ft) is vacant Units 6-8 (9,000 sq ft) are occupied.
Disclaimer: The particulars issued by Behan Irwin & Gosling are on the basis that (i) all negotiations are conducted through their office (ii) The details contained herein are set out as general guidelines only and any intending lessee or purchaser should not rely on them as statements of fact and should satisfy themselves as to their correctness (iii) Maps and floor plans are not to scale and are for guidance only (iv) Neither Behan Irwin & Gosling nor any of its employees have any authority to make or give representations or warranty (express or implied) in relation to the property (v) All indicative prices quoted are exclusive of VAT