O’Callaghan Properties have placed the Half Moon Street development on the market today with a guide price of €34m.
The waterfront building on Lavitts Quay was designed by Wilson Architects and is anchored by Apple Europe and Boots pharmacy’s flagship Cork store.
The development’s 119,589 sq ft of retail and office accommodation is also home to tenants such as Henry J Lyons architects, Matthews, the clothing and footwear retailer, and Kopper Hair Salon and generates a gross annual income of €2,606,500 per year.
The office space is currently let to Apple Europe at €22 per sq ft, with one currently vacant retail space at ground and lower ground floor level.
“We are expecting interest to be strong from the onset – not only is this a highly desirable investment opportunity in terms of location, unit potential, mix, and design, but there is a dearth of assets of this grade on the marketplace.” says Domhnaill O’Sullivan of Savills.
“What’s more it is surrounded by a myriad of local amenities with a waterfront setting and extensive views of the River Lee. It’s close proximity to prime retail on Patrick Street and Opera Lane will also prove attractive to prospective investors”.