Displaying items by tag: Boardwalk: Cork's 'City Quarter'

12th January 2017

Cork 'City Quarter' Boardwalk In €14m Deal

Alongside the 'City Quarter', the Port of Cork site is in a period of exclusive negotiations with US/Irish based bidder, via Cushman & Wakefield, having gone to market in mid 2016 guiding €7m, and is understood to be under offer for a lower sum.

#CityQuarter - In a deal worth up to €14m writes The Irish Examiner, is to be signed in the coming days on a remaining investment — including the Boardwalk bar and restaurant — at Cork city’s seminal City Quarter.

It went to market for Nama in September 2016, guiding €14.5 million.

The investment offer, including remaining 38,000 sq ft of offices, basement car parking and ground floor space at the €100m City Quarter, is close to being bought in one single lot, according to sources. It has an income of €654,000 with scope to double that to €1.33m, according to Savills.

It’s understood that one investor is behind the impending deal, and when concluded, it may involve a re-sale or sub-sale as well as leases of several of the key components.

Click here for more on the deal at the site which Afloat adds is directly opposite to Ardmore Shipping Corporation's 'Irish' office on Albert Quay.

The Bermuda headquartered corporation of a product/chemical tanker fleet, relocated last summer its principle operating office to Cork City from the suburb of Mahon downriver.

Last month several key appointments were made by Ardmore to their offices in Singapore and Houston, USA.

Published in Waterfront Property

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